Keertana Finserv Private Limited NCD on Aspero

About Company

Keertana Finserv Private Limited, formerly known as Rajshree Tracom, is a Hyderabad-based Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI). Founded in April 2022 under the leadership of Ms. Padmaja Reddy, the company focuses on providing financial services to low and middle-income households in rural areas across South India. Keertana offers a diverse range of products, including Micro Enterprise Loans, Gold Loans, Secured Business Loans, Loan Against Property (LAP), and Housing Loans. Leveraging cutting-edge technology, Keertana aims to deliver hassle-free and affordable credit access to its customers. As of December 2023, the company operates 249 branches across six states—Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Odisha, and Pondicherry—and employs over 1,500 individuals.

Promoters and Management

Keertana Finserv Private Limited's leadership team comprises seasoned professionals with extensive experience in the financial sector:

Meet Our Team

Padmaja Reddy

Managing Director TThe founder and Managing Director of Keertana Finserv. Prior to establishing Keertana in April 2022, she was the founder, promoter, and erstwhile Managing Director of Spandana Sphoorty Financial Limited (SSFL), a leading microfinance institution in India. Under her leadership, SSFL grew to become the second-largest microfinance institution in the country. Ms. Reddy's extensive experience in microfinance and her visionary leadership have been instrumental in driving Keertana's growth and commitment to financial inclusion.

Siva Kumar Reddy

Senior Vice President and Head of Operations at Keertana Finserv. With a postgraduate degree from Manipal University and a bachelor's degree in Computer Science Engineering, he brings a wealth of experience from his previous roles at Axis Bank Ltd., IndusInd Bank, Kotak Mahindra Bank, Yes Bank, and ICICI Bank. Mr. Reddy has a strong background in credit, operations, transactions, and technology. His meticulous attention to detail and customer-centric approach have been pivotal in implementing digital solutions, expanding portfolios, and overseeing API banking transactions at Keertana.

Financial Performance

As of March 31, 2024, Keertana Finserv Private Limited reported a total income of ₹268.93 crore, a significant increase from ₹91.82 crore in the previous fiscal year. The company achieved a profit after tax (PAT) of ₹71.59 crore in FY2024, up from ₹15.99 crore in FY2023, reflecting a 347.72% growth. Keertana's capital adequacy ratio stood at 33.43% as of March 31, 2024, indicating a robust capacity to manage risks and support future growth.

Credit Rating

In August 2024, CRISIL Ratings reaffirmed its 'CRISIL BBB/Stable' rating on Keertana Finserv's non-convertible debentures (NCDs) and bank loan facilities, citing the company's adequate capitalization and experienced leadership team. Additionally, in August 2024, India Ratings assigned a 'IND BBB+/Stable' rating to Keertana's NCDs and bank loans, reflecting moderate credit risk with a stable outlook. In February 2024, ICRA reaffirmed its '[ICRA]BBB (Stable)' rating for Keertana's NCDs and bank facilities, acknowledging the company's growth trajectory and operational performance.

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