CCAVENUE

AvenuesAI Limited has undergone a corporate rebranding, signifying its transformation into an AI-native transaction infrastructure platform. This involves integrating its core offerings: Rediff as a consumer gateway, RediffOne as an AI-native back office for SMEs and enterprises, CCAvenue as an AI-optimized financial execution layer, and Phronetic AI as the invisible orchestrator. This integrated ecosystem is designed to create a compounding flywheel, where data and AI drive automation, retention, and structural margin expansion, moving beyond a traditional payment gateway model.

The company delivered a strong Q3 FY26, with consolidated gross revenue growing 122% year-over-year to INR 2,381 crores. Consolidated net revenue increased 6% YoY to INR 149 crores. Adjusted EBITDA rose 25% YoY to INR 98 crores, with the EBITDA margin expanding to 66% of net revenue, up from 56% YoY. Adjusted PAT grew 59% YoY to INR 86 crores, achieving a PAT margin of 58%, up from 39% YoY, demonstrating strong profitability and operational leverage despite a competitive pricing environment.

AvenuesAI secured an in-principle RBI license for issuing prepaid payment instruments, which will enable future wallet and store value product launches under the CCAvenue ecosystem. The company also obtained IFSCA approval at GIFT City for cross-border payments, escrow services, and international merchant acquiring, and RBI authorization for offline payment aggregation. The international payment business continues to gain traction in the UAE, Saudi Arabia, and Oman, with GIFT City expected to serve as a strategic base for U.S.-denominated settlements and cross-border flows, contributing a growing share of net payment revenue over the medium term^⏳.

AI, powered by Phronetic AI, is deeply embedded across the company's operations, including routing, fraud detection, risk management, reconciliation, and orchestration. This integration led to a 9% reduction in payment failures in Q3 FY26. The AI-driven system optimizes pricing, reduces payment failures, automates reconciliation, and improves approval rates, contributing to lower customer acquisition costs, reduced operational friction, and structural margin expansion over time. Management views AI as the 'brains of the ecosystem' converting data into actionable insights.

PayCentral, an AI payment agent, is designed to integrate across all payment aggregators, not just CCAvenue. It auto-routes transactions for success, predicts fraud, optimizes checkout flows, and automates merchant reconciliation. Management believes this AI-driven decision-infrastructure layer can command a few basis points of the enormous Indian real-time payment market, which is significantly larger than traditional gateway margins, thereby offering substantial monetization potential.

Rediff serves as a meaningful consumer gateway, integrating identity, intent, engagement, and financial participation with a large registered user base. RediffOne functions as an AI-native back office for SMEs, enterprises, and institutions, with over 20,000 merchants already on the system. This platform aims for business lock-in and deepening engagement, contributing to the long-term monetization strategy and ecosystem control by providing a foundational identity and productivity layer.

The company maintains a strong balance sheet with healthy cash flows from operations and low leverage, providing financial flexibility to fund investments in AI and platform infrastructure. Capital allocation remains measured and return-driven, prioritizing volume-led growth and absolute profitability over headline take rates. Management emphasized that investments are geared towards long-term strategic advantage and platform benefits, focusing on unit economics, success rates, and loss reductions, rather than short-term ROI.