Poonawalla Fincorp prepares itself for the next level of growth

Poonawalla Fincorp has had a tremendous journey in the last 3 years in terms of growth, strong asset quality, CRISIL AAA rating, superior profitability and diversifying portfolios of products reaching an AUM of more than 21,000 CroresINR, under the dynamic leadership of Mr. Abhay Bhutada, current Managing Director Poonawalla Fincorp.

Mr. Adar Poonawalla, Chairman Poonawalla Fincorp said "As we continue to develop new business verticals and move towards our long-termvision of being the best-in-class organization, we are pleased to share that Mr. Arvind Kapil would be joining us as MD and CEO, to spearhead this transformation to the next level of growth. Mr. Kapil manages a book of over 7 Lakh Crores INR at HDFC Bank and has successfully handled the largest merger in the industry. Mr. Kapil, an alumnus of Harvard Business School, Postgraduate in Management and Engineer, has been known in the industry as a paradigm pioneer for leading digital lending innovations and has been an integral part of the HDFC Bank's growth journey for over 25 years."

Mr. Adar Poonawalla further added, "Mr. Abhay Bhutada spearheaded and was instrumental in successfully transforming the entire company since its acquisition in May 2021. He has strengthened Poonawalla Fincorp with his excellent and extraordinary efforts in less than 3 years and has fast forwarded the company to its current exceptional state of affairs. Given his leadership, execution skills and business acumen, Abhay Bhutada has been elevated to Group level and will be taking up strategic & larger role at the Cyrus Poonawalla Group for managing its strategy, investment & finance. He shall continue to be as Non-Executive Director on the Board of Poonawalla Fincorp Ltd."

Shares of Poonawalla Fincorp Limited was last trading in BSE at Rs. 469.85 as compared to the previous close of Rs. 462.55. The total number of shares traded during the day was 123876 in over 2818 trades.

The stock hit an intraday high of Rs. 484.00 and intraday low of 457.25. The net turnover during the day was Rs. 57666949.00.

Source : Equity Bulls

Keywords

PoonawallaFincorp INE511C01022