Poonawalla Fincorp, under the adept leadership of Managing Director Abhay Bhutada, has set new benchmarks in the financial landscape with its remarkable performance in the financial year 2024. Let's delve into the highlights of this extraordinary journey and understand how Abhay Bhutada steered the company towards unprecedented growth.
Record-breaking Growth
In the fourth quarter of FY24, Poonawalla Fincorp witnessed a meteoric rise in its assets under management (AUM), which surged by a staggering 54 per cent to reach Rs 24,800 crore. This impressive year-on-year jump was complemented by robust disbursements, reflecting the company's unwavering commitment to excellence and innovation.
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Stellar Performance
The sequential expansion of AUM by nearly 13 per cent from the previous quarter further underscores Poonawalla Fincorp's relentless pursuit of excellence. Total disbursements during the reported quarter soared by 52 per cent year-on-year, reaching approximately Rs 9,680 crore. This substantial increase in disbursements, both on a yearly and sequential basis, is a testament to the company's strong market position and customer-centric approach.
Under Abhay Bhutada, Poonawalla Fincorp's success, expressed his elation at achieving the highest-ever quarterly disbursement across all products in Q4FY24. He attributed this remarkable feat to the company's organic growth strategy and unwavering focus on maintaining best-in-class asset quality. Bhutada's strategic vision and leadership have played a pivotal role in propelling Poonawalla Fincorp to new heights of success.
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Commitment to Excellence
Poonawalla Fincorp remains steadfast in its commitment to maintaining superior asset quality, with Gross Non-Performing Assets (GNPA) below 1 per cent and Net Non-Performing Assets (NNPA) below 0.60 per cent. The company's relentless pursuit of excellence is evident in its aim to further enhance asset quality and sustain NNPA below 1 per cent in alignment with the Management Vision 2025. With ample liquidity of approximately Rs 3,600 crore as of March 31, 2024, Poonawalla Fincorp is well-positioned to navigate through any challenges and seize new opportunities.
A Year of Remarkable Growth
Reflecting on the achievements of FY24, Abhay Bhutada emphasized that it was a year of significant growth across all business parameters. The company witnessed remarkable improvement not only in AUM but also in profitability and credit quality across all four quarters. Poonawalla Fincorp's stellar performance under Bhutada's leadership underscores its resilience, agility, and unwavering commitment to customer satisfaction.
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Strategic Initiatives
Under Abhay Bhutada's stewardship, Poonawalla Fincorp has undertaken several strategic initiatives to drive sustainable growth and enhance shareholder value. These initiatives include expanding its product portfolio, strengthening its distribution network, leveraging technology to enhance operational efficiency, and fostering a culture of innovation and continuous improvement. By staying ahead of the curve and anticipating market trends, Poonawalla Fincorp is well-positioned to capitalize on emerging opportunities and deliver superior returns to its stakeholders.
Customer-Centric Approach
At the heart of Poonawalla Fincorp's success lies its unwavering commitment to customer satisfaction. Abhay Bhutada has instilled a customer-centric culture within the organization, where every decision and action is guided by the objective of meeting the evolving needs and preferences of its customers. By providing tailored financial solutions, personalized service, and seamless experiences, Poonawalla Fincorp has earned the trust and loyalty of millions of customers across the country.
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Conclusion
In conclusion, Poonawalla Fincorp's exceptional growth trajectory in FY24, under the dynamic leadership of Abhay Bhutada, reaffirms its position as a formidable player in the financial services industry. With its unwavering focus on innovation, customer-centric approach, and commitment to excellence, Poonawalla Fincorp is poised to continue its journey of success and create long-term value for its stakeholders. As the company sets its sights on the future, it remains committed to driving positive change and fostering financial inclusion in the communities it serves.
With Abhay Bhutada at the helm, Poonawalla Fincorp is not just rewriting the rules of the game; it's setting new standards of excellence in the realm of finance. As the company embarks on its next phase of growth, it remains steadfast in its commitment to delivering superior returns to its stakeholders and making a positive impact on society. Under Abhay Bhutada's visionary leadership, Poonawalla Fincorp is well-positioned to navigate through the complexities of the financial landscape and emerge as a leader in the years to come.
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