Poonawalla Fincorp Limited, under the dynamic leadership of Mr. Abhay Bhutada, has not merely witnessed success, but has truly redefined the contours of achievement in the recent fiscal year within the non-banking financial sector. Through a blend of visionary strategies, meticulous execution, and an unwavering commitment to excellence, Mr. Bhutada has propelled Poonawalla Fincorp to unparalleled heights, marking a series of significant milestones that have garnered attention across the industry. Let's embark on a journey to explore the remarkable highlights that underscore the extraordinary growth trajectory spearheaded by Mr. Bhutada.
Record-breaking Performance
In a testament to its unwavering commitment to driving economic prosperity, Poonawalla Fincorp has achieved a monumental milestone in the latest financial quarter. With a staggering ₹9,688 crore disbursed, marking its highest ever quarterly disbursement, the company has not only showcased a remarkable 52% year-on-year increase but also an impressive 11% quarter-on-quarter growth. This surge in disbursement isn't just a statistic; it's a testament to Poonawalla Fincorp's robust lending activity and steadfast dedication to fueling economic growth across sectors.
Also Read: Who is Abhay Bhutada?
Surging Asset Growth
Poonawalla Fincorp Limited has emerged as a formidable force, with its Assets Under Management (AUM) soaring to an impressive ₹25,003 crore. This remarkable achievement signifies a substantial 55% year-on-year surge and a commendable 14% quarter-on-quarter increase, underscoring the company's unwavering commitment to growth and innovation. As Poonawalla Fincorp continues to expand its footprint, it exemplifies its dedication to catering to the diverse needs of consumers and Micro, Small, and Medium Enterprises (MSMEs), driving economic empowerment and fostering financial inclusion on a significant scale.
Exceptional Asset Quality
Poonawalla Fincorp has maintained superior asset quality, with Gross Non-Performing Assets (NPA) at 1.16%, witnessing a reduction of 28 basis points year-on-year and 17 basis points quarter-on-quarter. Moreover, Net NPA stood at 0.59%, reflecting a commendable reduction of 19 basis points year-on-year and 11 basis points quarter-on-quarter. This emphasis on asset quality underscores the company's prudent risk management practices.
Record-breaking Profitability
The fiscal year 2024 marked a historic milestone for Poonawalla Fincorp, with the company achieving its highest ever yearly Profit After Tax (PAT) of ₹1,027 crore, marking an impressive 83% year-on-year increase. Additionally, the quarterly PAT reached ₹332 crore, showcasing a substantial 25% quarter-on-quarter growth. These remarkable figures underscore Mr. Bhutada's astute leadership and the company's relentless pursuit of excellence.
Strategic Excellence and Thought Leadership
Mr. Abhay Bhutada, Poonawalla Fincorp’s managing director, attributes this success to the company's differentiated strategy and relentless execution. Under his stewardship, Poonawalla Fincorp has emerged as a thought leader in the lending space, setting new benchmarks for performance and innovation. Mr. Bhutada's vision and execution excellence have propelled the company to unprecedented heights, driving growth and delivering value to stakeholders.
Capital Adequacy and Liquidity
Poonawalla Fincorp maintains robust capital adequacy, with a Capital Adequacy Ratio standing at 33.8%, ensuring resilience and stability in the face of dynamic market conditions. Additionally, the company boasts a substantial liquidity buffer of ₹3,932 crore, further enhancing its financial strength and flexibility.
In conclusion, Mr. Abhay Bhutada's leadership has been instrumental in driving Poonawalla Fincorp's remarkable success in the NBFC sector. Through strategic foresight, operational excellence, and a customer-centric approach, Poonawalla Fincorp has cemented its position as a key player in the financial landscape. As the company continues its journey of growth and innovation, it remains poised to unlock new opportunities and create enduring value for its stakeholders.
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