Mumbai, May 2022: Avanse Financial Services, India’s new age, technologically advanced education-focused NBFC, announced that at the end of FY22, its AUM stands at ~₹4,836 Cr. During this financial year, the organisation witnessed the highest ever growth in its disbursement of ~₹2,927 Cr., 3.0x growth over FY21. Avanse reported a PAT of ~₹63 Cr., which indicates a growth of 1.7x over FY21. At the end of FY22, the net worth is ~₹1,010 Cr. The digitally agile company has been able to fulfil the academic aspirations of more than ~2.5 lacs deserving students while continuing to strengthen the domestic education delivery system.
During FY22, as the economy rebounded, Avanse Financial Services geared up to the evolving demands of the student fraternity to pursue their pre-pandemic academic aspirations and prepared itself to cater to their unique needs and requirements. Technology-backed innovation coupled with agility enabled the organisation to remain true to its commitment toward its customers, partners, employees and the education ecosystem at large.
Amit Gainda, MD & CEO, Avanse Financial Services said, “The financial year 2021-22 had been a year of rebound, recalibration and restoration. The economy gradually opened up, and organisations across sectors geared up to meet the pre-pandemic consumer demand. Adequate and timely availability of credit has always been crucial to boosting the economy. Being an education financing organisation, we designed customised solutions for students to fulfil their academic aspirations, for professionals to acquire evolving skills and for education institutions to develop their infrastructural facilities. Thus, we have remained true to our commitment to fulfilling the right to quality education and contributing to the global economy in the long run.
He further added, “We have witnessed different macroeconomic and geopolitical phases during this financial year, which gave us the opportunity to calibrate our business processes and strengthen ourselves as a reliable and committed brand. Despite everything, we have experienced a consistent and strong sequential growth in our overall business performance. We are on a robust trajectory to grow at a CAGR of 20-25% in the next 3-5 years.”
Avanse Financial Services’ focused approach and consistent performance enabled it to receive recognition and appreciation from multiple esteemed organisations. The company had been certified as a Great Place to Work®, a prestigious recognition bestowed on the company based on what employees had to say about their work experience. It has been recognised as the ‘Best Brands 2021’ by The Economic Times and won multiple awards such as Education Lending Company of the Year 2021 & Education Infrastructure Company of the Year 2021 by Quantic, and more.
Avanse Financial Services has fulfilled the educational dreams of ~2.5 lacs academic aspirants across 3,000+ institutes and 22,000+ courses in ~50 countries. The firm has also provided growth and working capital to ~1K educational institutes catering to over ~5-6 lacs students.