Finkurve Financial Services Limited (FFSL) has had its credit ratings reaffirmed by Crisil Ratings Limited. The long-term rating for bank facilities and Non-Convertible Debentures (NCDs) has been maintained at Crisil BBB/Stable. Additionally, the total bank loan facilities rated have been enhanced from ₹200 Crore to ₹300 Crore. The Non-Convertible Debentures rated amount is ₹100 Crore, with two tranches of ₹100 Crore each also reaffirmed at Crisil BBB/Stable. FFSL, operating under the brand name Arvog, is an NBFC established in 1984 and acquired by Mr. Ketan Kothari in 2010. The company's assets under management stood at ₹671 crore as of September 30, 2025, with gold loans forming 91% of its portfolio. The company's capital position is adequate, supported by a comfortable earnings profile, a strong promoter profile, and experienced management. Networth was ₹329 crore with a gearing of 1.1 times as of September 30, 2025. An equity infusion of ₹111.5 crore through a preferential share issue in the quarter ended June 30, 2025, contributed to this increase in networth. Key strengths highlighted include adequate capitalization, a strong promoter profile, and experienced management. Weaknesses noted are the small scale of operations, limited seasoning of the portfolio, and a modest resource profile. The company's liquidity is deemed adequate, with ₹76 crore in cash and bank balances as of November 30, 2025, sufficient to cover repayments for the next six months. The outlook remains stable, with Crisil believing FFSL will continue to benefit from the promoters' experience and adequate capitalization.