BusinessWire India
Pune (Maharashtra) [India], March 19: Adar Poonawalla said, "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 Limited."
Under the dynamic leadership of Abhay Bhutada, 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 Crores INR.
"As the company continues to develop new business verticals and the next level of growth, it is pleased to share that Arvind Kapil will be joining them as MD and CEO. Kapil manages a book of over 7 Lakh Crores INR at HDFC Bank. Kapil, an alumnus of Harvard Business School, Postgraduate in Management and Engineer, has been an integral part of HDFC Bank's growth journey for over 25 years," said by the company in its exchange filing.
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