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Abhay Bhutada Guides Poonawalla Fincorp To New Heights In FY24

 Poonawalla Fincorp, a cornerstone of the financial sector, has recently unveiled its stellar performance for the quarter ending 31 March 2024. In an ever-evolving market landscape, the institution has showcased resilience and achieved unprecedented growth, solidifying its position as an industry leader.

Record-breaking Performance In Q4FY24

Impressive Disbursements

Abhay Bhutada


Poonawalla Fincorp has set new records with its highest-ever total disbursements in Q4FY24, soaring to an impressive figure of approximately Rs 9,680 crore. This monumental achievement signifies a remarkable 52 per cent year-on-year increase and an impressive 11 per cent quarter-on-quarter surge compared to previous years, setting new benchmarks in the industry.

Also Read: Abhay Bhutada Shares Insights on Poonawalla Fincorp’s Long-Term Objectives

Surge In Assets Under Management (AUM)

Simultaneously, the company has witnessed a significant surge in its Assets Under Management (AUM), experiencing a 54 per cent year-on-year increase and a 13 per cent quarter-on-quarter rise to approximately Rs 24,800 crore as of 31 March 2024. This remarkable growth underscores Poonawalla Fincorp's robust presence and strategic prowess in the market.

Commitment To Asset Quality

Maintaining its commitment to superior asset quality, Poonawalla Fincorp remains focused on keeping Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) below 1.20 per cent and 0.60 per cent, respectively. Aligned with its Management Vision 2025, the company aims to sustain NNPA below 1 per cent, ensuring steadfast stability and growth.

Financial Stability And Liquidity

Bolstering its financial resilience, Poonawalla Fincorp boasts substantial liquidity reserves, with approximately Rs 3600 crore available as of 31 March 2024. This robust liquidity position empowers the company to navigate dynamic market conditions with agility and confidence, further enhancing its competitive edge.

Also Read: MD Abhay Bhutada Provides Glimpse of Poonawalla’s Co-Branded Card Strategy in Q4

Abhay Bhutada's Vision And Leadership

At the helm of Poonawalla Fincorp, Abhay Bhutada's visionary leadership has been pivotal in steering the company towards unprecedented success. Expressing contentment with the FY24 performance, Bhutada applauds the significant growth achieved across all business verticals. Under his strategic guidance, the company has witnessed a remarkable uptick in AUM, profitability, and credit quality.

Continued Focus On Growth And Risk Management

abhay bhutada md


Q4FY24 serves as a testament to Poonawalla Fincorp's unwavering commitment to excellence, marked by record-breaking disbursements and impeccable asset quality. Bhutada reaffirms the company's steadfast focus on maintaining low costs of funds and realizing its ambitious Vision 2025. With a robust foundation and strategic foresight, Poonawalla Fincorp remains poised for sustained success in the dynamic financial landscape.

Also Read: From Abhay Bhutada to Nirmal Jain — India’s Top Chartered Accountants

Conclusion

Poonawalla Fincorp's stellar performance in FY24 underscores its unwavering dedication to delivering value to stakeholders while upholding the highest standards of integrity and transparency. With Abhay Bhutada, MD of Poonawalla Fincorp  guiding the way, the company continues to set new benchmarks for excellence, reinforcing its status as a trailblazer in the financial sector.

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