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Stock Report
U GRO Capital appoints Mr. Kishore Lodha as Chief Financial Officer
Posted On : 2022-09-01 22:56:42( TIMEZONE : IST )
U GRO Capital, today announced the appointment of Mr. Kishore Lodha as its CFO with effect from September 15, 2022.
Mr. Lodha is a qualified CA and brings with him 20+ years of Industry experience. Mr. Lodha is currently the CFO of Hinduja Leyland Finance and in past has been in a similar role with various other leading organizations including Future group and SREI Infrastructure. He has held various offices in the financial domain ranging from managing accounting, taxation, financial controller, RBI Compliance, and treasury.
Announcing the appointment, Mr. Shachindra Nath, Vice Chairman and Managing Director of U GRO stated, "We welcome Kishore in our team as the Chief Financial Officer. Given the size and diversity of the liability base and the dynamic regulatory landscape on finance and accounting it is desirable to bequeath the role of the CFO to an individual who has experience and deep understanding of the nuances of a large and dynamic Non-Banking Finance Company with the understanding of an ever-changing landscape."
"Over a period of the last few years, we have built a great organisation around asset origination and credit delivery and with Kishore joining us we believe that Finance and Treasury would be augmented to support our growth. The entire management team wishes him a successful journey at U GRO," Mr. Nath added further.
U GRO over FY 21 to FY 22 has grown its Asset under Management ('AUM') from Rs 1,375 Crores to Rs. 3,656 Crores and recently has reached the milestone of Rs. 4,000 Crores.
U GRO's aim is to reach Rs. 7,000 Crores of AUM by end of FY 23 and Rs. 20,000 Crores by end of FY 25. U GRO has 63+ lenders and 10+ Co-Lending partners and is emerging as one of India's largest MSME financing platform.
U GRO has been attracting senior industry leaders to be part of its mission and Mr. Lodha has wide experience of performing the role of CFO for large NBFCs.
Mr. Amit Gupta who was initially associated with UGRO as the Chief Treasury Officer and later elevated as the Chief Financial Officer has decided to pursue opportunities outside UGRO.
