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U-Flex hires Dharmesh Joshi as head – data center secifications & business development
New role to expand footprint across India, US, Europe and GCC markets
MUMBAI: U-Flex, a flagship brand of Unitile, has appointed Dharmesh Joshi as head of data center specifications and business development, signalling a strong push into the fast-growing global data centre market.
In this newly created role, Joshi will lead the company’s expansion across India and key international markets including the US, Europe, Southeast Asia and the GCC. His mandate includes building specification networks, driving business development and positioning U-Flex as a preferred infrastructure partner for hyperscale and enterprise data centre projects.
The appointment comes amid a surge in India’s data centre sector, fuelled by policy support and rising investments. With the Union Budget 2026 to 2027 extending tax incentives for foreign cloud providers and billions of dollars flowing into infrastructure, the sector is witnessing rapid capacity build-out and heightened competition.
Joshi brings over 16 years of experience spanning business development, project management and strategic growth within the construction and infrastructure ecosystem. Known for handling complex, large-scale projects, he has worked closely with consultants, contractors and enterprise clients to deliver commercially aligned technical solutions.
Dharmesh Joshi said, “I believe sustainable growth comes from a combination of clear strategy, disciplined execution, and strong relationships. The data center sector presents a significant opportunity, particularly with the policy impetus India is now providing through long-term fiscal incentives. I look forward to working with the team to build a scalable, globally relevant infrastructure business for U-Flex.”
The company has outlined an ambitious roadmap for its data centre vertical, focusing on integrated solutions that combine raised access flooring and structural ceiling systems into a single offering. It is also investing in dedicated international teams to strengthen its presence across multiple geographies.
Joshi’s appointment reflects U-Flex’s intent to move beyond its domestic stronghold and build a globally competitive play in data centre infrastructure, with a clear eye on scale, partnerships and long-term growth.
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Jio Financial Services posts Rs 1,560 crore FY26 profit
Revenue rises to Rs 3,513 crore as investments and lending scale up.
MUMBAI: If money makes the world go round, Jio Financial Services Limited is quietly spinning a much bigger wheel. The Reliance-backed financial arm reported a consolidated net profit of Rs 1,560.9 crore for FY26, slightly lower than Rs 1,612.6 crore in FY25, even as revenue growth gathered pace.
Total revenue from operations rose sharply to Rs 3,513.3 crore in FY26 from Rs 2,042.9 crore a year earlier, driven largely by a surge in interest income, which more than doubled to Rs 1,901.9 crore from Rs 852.5 crore. Fee and commission income also saw a significant jump to Rs 597 crore, compared to Rs 155.2 crore in FY25, reflecting expanding financial services activity.
For the March quarter, profit stood at Rs 272.2 crore, broadly flat compared to Rs 269 crore in the same period last year. Quarterly revenue from operations climbed to Rs 1,018.5 crore, up from Rs 493.2 crore year-on-year, signalling steady momentum in core income streams.
Expenses, however, moved in tandem with growth. Total costs nearly quadrupled to Rs 1,982.9 crore in FY26 from Rs 524.8 crore in FY25, with finance costs alone rising to Rs 745.1 crore from just Rs 7.7 crore a year earlier, reflecting increased borrowing and scale of operations. Employee expenses also grew to Rs 387.3 crore, while other expenses expanded to Rs 755 crore.
Profit before tax stood at Rs 1,911.7 crore for the year, slightly below Rs 1,946.9 crore in FY25. After accounting for a total tax outgo of Rs 350.8 crore, the company reported its final net profit figure.
Beyond the income statement, the balance sheet tells a story of rapid expansion. Total assets surged to Rs 1,63,497 crore as of March 31, 2026, up from Rs 1,33,510 crore a year earlier. Investments alone stood at Rs 1,33,088.7 crore, underscoring the company’s strong focus on treasury and financial asset growth.
However, the year also saw sharp volatility in other comprehensive income, which swung to a loss of Rs 16,028.3 crore, largely driven by fair value changes in equity instruments. This dragged total comprehensive income for FY26 to a negative Rs 15,756.1 crore, compared to a positive Rs 14,870 crore in FY25.
On the capital front, the company’s paid-up equity share capital remained steady at Rs 6,353.1 crore, with other equity rising to Rs 1,27,500.5 crore.
The numbers reflect a business in transition scaling rapidly across lending, investments and fee-based services, but also navigating the volatility that comes with mark-to-market movements in financial assets. In other words, while the top line is accelerating, the fine print still carries a few swings.
