20 Milestone - Veritas Finance Pvt Ltd – Non Banking Finance

2022-23

  • Credit ratings upgraded to “CARE A with stable outlook (Single A; Outlook: Stable)

2021-22

  • Capital raised to the tune of Rs. 440 crores from existing Investors
  • Loan Book Crosses Rs. 2,000 Crores
  • Customer base crosses 70000 no.s
  • PBT crosses Rs. 100 crores

2020-21

  • Credit ratings upgraded to “CARE A- with stable outlook” (CARE A minus)
  • 2300+ employees across 200 branches made a positive impact in the lives of over 53,000 customers
  • Loan Book Crosses Rs. 1,500 Crores
  • PBT crosses Rs. 80 Crores

2019-20

  • Business Commenced in Jharkhand
  • Branch Network crosses 200 nos
  • Kedaara Capital and existing Investors Invest Rs. 350 Crores in the Company
  • Capital base grows to Rs. 822 Crores
  • Loan Book crosses Rs. 1,300 Crores
  • Branch Network crosses 200 nos

2018-19

  • Credit ratings upgraded to CARE BBB+ (CARE Triple B plus), Outlook: Stable
  • Certified as ISO 27001 Compliant
  • Business Commenced in Telangana, Andhra Pradesh and Madhya Pradesh
  • Capital raised to the tune of Rs. 260 Crores from Norwest Venture Partners and existing Investors
  • Capital base grows to Rs. 444 Crores
  • Loan Book crosses Rs. 745 Crores
  • PBT crosses Rs. 28 Crores
  • Branch Network crosses 140 nos

2017-18

  • Business Commenced in West Bengal, Karnataka and Odisha
  • Received Long term investment grade rating of CARE BBB- (CARE Triple B minus) with stable outlook from CARE Ratings
  • Capital raised to the tune of Rs. 120 Crores with investments from CDC Group Plc, Lok Capital and existing investors.
  • Cumulative Disbursement crosses Rs. 400 Crores and Loan Book crosses Rs. 300 Crores
  • Cumulative break even achieved with PBT at Rs. 650 Lacs
  • Customer base crosses 15000 no.s
  • Branch Network crosses 70 nos

2016-17

  • Disbursement crosses Rs. 100 Crores for the year
  • Loan Book crosses Rs. 90 Crores
  • Customer base grows to 7500 nos
  • Branch Network crosses 40 nos

2015-16

  • Received CoR from RBI to commence NBFC operations
  • Corporate office inaugurated in Chennai
  • Regional Offices in Coimbatore and Trichy
  • Sarva Capital and Caspian Invest Rs. 30 Crores in the Company
  • Capital base grows to Rs. 43.60 Crores