KSFE becomes India’s 1st miscellaneous NBFC with ₹1L crore turnover
What’s the story
Kerala State Financial Enterprises (KSFE) has made history by becoming the first miscellaneous non-banking financial company (NBFC) in India to cross a business turnover of ₹1 lakh crore.
The achievement comes in record time and is a major milestone for the firm.
To celebrate this historic achievement, Chief Minister Pinarayi Vijayan will inaugurate celebrations at Central Stadium on Wednesday.
Finance minister to chair the event
The celebration event will be chaired by Finance Minister K N Balagopal. It will also see the launch of the “KSFE Onam Samriddhi Gift Card” by Food and Civil Supplies Minister G R Anil.
Award-winning actor Suraj Venjaramoodu, who is also the brand ambassador for KSFE, will grace the occasion as its guest of honor.
KSFE’s business has doubled in 4 years
Balagopal emphasized that KSFE’s business has doubled from ₹50,000 crore to ₹1 lakh crore in just four years.
He attributed this growth to the public’s increasing trust and popularity of KSFE.
The company’s Chairman K Varadarajan also highlighted their major contributions over the last four years, including ₹504 crore in financial assistance through interest waivers and a contribution of ₹920 crore to the state government.
MD announces profit of ₹512cr
KSFE’s Managing Director S K Sanil has announced a profit of ₹512 crore for the 2024-25 fiscal year. This further cements its position as a consistently profitable public sector enterprise.
Source: www.newsbytesapp.com