Mahindra Finance Eyes Expansion with Quality Focus

Mahindra & Mahindra's NBFC arm, led by CEO Anish Shah, aims to expand while prioritizing asset quality. The firm has been restructuring and leveraging technology to improve its risk profile, securing its position in rural and semi-urban markets. Recent results show significant profit and income growth.

In a strategic move to expand its footprint, the NBFC division of Mahindra & Mahindra continues to prioritize asset quality, as stated by Group CEO Anish Shah. Insights from recent financial results showcase Mahindra Finance's focus on diversifying and enhancing controls, marking its ambition to lead in the banking sector.

Shah emphasized that the company's approach began with establishing quality benchmarks. Over three years of restructuring efforts have been pivotal in strengthening its business model and ensuring robust asset management. The application of technology and data analytics has played a crucial role in transforming Mahindra Finance's risk profile.

Despite fierce competition, especially from major corporates like Jio Financial Services, Mahindra Finance maintains its leadership in rural and semi-urban domains. With a significant increase in net income and profit margins for the quarter ending in June, the firm remains a formidable player in the non-banking financial sector.

(With inputs from agencies.)