ETtech Morning Brief: Groww’s Record Profits & Geopolitical Headwinds

Fintech giant Groww kicked off the week with a blockbuster earnings report, while the ongoing Iran conflict begins to cast a shadow over India’s burgeoning Global Capability Centre (GCC) landscape. Here is your breakdown of today’s top tech and business stories.

1. Groww Q4 Results: A Masterclass in Scalability

Billionbrains Garage Ventures (Groww’s parent) reported a massive surge in both top and bottom lines for the quarter ending March 2026.

• Profitability: Net profit more than doubled to ₹686 crore, up from ₹309 crore last year.

• Revenue: Operating revenue jumped 87% to reach ₹1,505 crore.

• Strategic Pivot: CEO Lalit Keshre highlighted a shift toward AI-driven product builds over aggressive hiring.

• Expansion: The company utilized ₹961 crore to acquire wealthtech firm Fisdom, signaling a deeper push into wealth management.

2. Geopolitical Tensions Slow GCC Momentum

The Iran conflict is forcing multinational corporations to hit the “pause” button on Indian expansions.

• The Dip: Only 63 GCCs opened this quarter, compared to 74 in the same period last year.

• The Paradox: While new project discussions have slowed, the existing industry remains robust, with revenues projected to have crossed $80 billion in FY26.

3. Lenskart Faces Social Media Storm

Lenskart shares saw a 5% intraday tumble following a viral “grooming policy” leak that allegedly restricted religious symbols like bindis and tilaks.

• CEO Intervention: Peyush Bansal clarified that the policy was outdated and retracted, though the stock struggled to recover fully, closing with a marginal gain of 0.31%.

4. Bengaluru: The World’s AI Living Room

Despite global risks, Bengaluru’s real estate market is thriving as AI titans set up shop:

• Anthropic has established its second Asian base at Embassy Golf Links.

• OpenAI and Mistral AI are both finalizing plans for large-scale Bengaluru hubs later this year.

5. Policy & Security Updates

• Gig Worker Safety: The Labour Ministry is mooting a multi-manager fund structure (involving the EPFO) to manage social security for the gig economy.

• Quantum Banking: Public Sector Banks (PSBs) like PNB and SBI have been directed by the Finance Ministry to adopt quantum-resistant encryption to future-proof against advanced hacking threats.

• Palantir’s Manifesto: CEO Alex Karp’s 22-point summary on AI warfare and the role of Silicon Valley in national defense has sparked a global debate on the ethics of private tech in the military.

FY26 Financial Snapshot: Groww