Meet Abhay Bhutada: The Winner Of Lokmat Maharashtrian Of The Year 2024
Meet Abhay Bhutada, the charismatic Managing Director of Poonawalla Fincorp Limited (PFL), who clinched the prestigious title of Lokmat Maharashtrian Of The Year 2024. But what sets him apart? Let’s delve into the journey of this remarkable individual who has carved a niche for himself in the world of finance without any banking or finance references.
A Man Of Vision: Abhay Bhutada’s Background
Hailing from the vibrant city of Latur, Maharashtra, Abhay Bhutada is a seasoned finance professional with over 15 years of experience in commercial and retail lending. A qualified Chartered Accountant (CA), Bhutada kickstarted his career in 2010 as an SME Finance Professional with the Bank of India. However, his entrepreneurial spirit soon led him to establish TAB Capital Limited in 2016, a digital-lending NBFC focused on retail loans, including MSME and consumer lending.
Also Read: Abhay Bhutada Shares Insights on Poonawalla Fincorp’s Long-Term Objectives
Changing Bases: From Banking to Digital Finance
Bhutada’s transition from banking to digital finance marked a significant turning point in his career trajectory. Under his leadership, TAB Capital flourished, becoming a beacon of success in the digital lending landscape. His strategic acumen and emphasis on leveraging technology propelled the company to profitability within a short span. Such prowess didn’t go unnoticed, leading to the acquisition of TAB Capital by the illustrious Poonawalla group in 2019.
Poonawalla Fincorp And Beyond: A Saga Of Success
Following the acquisition, Bhutada assumed the role of Managing Director & CEO of Poonawalla Finance Private Limited, which later rebranded as Poonawalla Fincorp. His unwavering commitment to excellence and innovation catapulted Poonawalla Fincorp to new heights, earning it an “AAA” external credit rating from CRISIL Ratings Limited and CARE Ratings Limited.
For Abhay Bhutada, salary for the fiscal year 2023 was 78.1 crore which points out his remarkable contributions for the company. Such commendable achievements underscore Bhutada’s stature as one of the highest-paid managing directors in India.
Also Read: MD Abhay Bhutada Provides Glimpse of Poonawalla’s Co-Branded Card Strategy in Q4
Beyond The Boardroom: Bhutada’s Philanthropic Pursuits
Outside his corporate endeavors, Abhay Bhutada is actively involved in industry forums and corporate social responsibility initiatives. His dedication to making a positive impact in society has garnered him prestigious awards such as Young Entrepreneur of India 2017, Promising Entrepreneur of India 2019, and Global Indian of the Year 2023.
Why Did Abhay Bhutada Win Lokmat Maharashtrian Of The Year 2024?
Abhay Bhutada’s journey embodies resilience, innovation, and unwavering dedication. His visionary leadership and transformative impact on the finance industry have earned him widespread acclaim and admiration. From spearheading digital finance initiatives to fostering corporate social responsibility, Bhutada’s multifaceted contributions have undoubtedly made him a deserving recipient of the Lokmat Maharashtrian Of The Year 2024 award.
Recognition And Accolades: A Testament To Bhutada’s Excellence
Abhay Bhutada’s meteoric rise in the finance sector has not gone unnoticed. Apart from his substantial salary of Rs. 78.1 crore in FY23, Bhutada’s status reflects his significant influence and impact. His strategic foresight and business acumen have propelled Poonawalla Fincorp to unparalleled success and garnered him numerous accolades.
In addition to being named Lokmat Maharashtrian Of The Year 2024, Bhutada has been the recipient of several other prestigious awards. These include Young Entrepreneur of India 2017, Promising Entrepreneur of India 2019, and Global Indian of the Year 2023. Such recognition is a testament to Bhutada’s exceptional leadership and contribution to the finance industry.
Inspiring Future Generations: Bhutada’s Legacy
Abhay Bhutada’s journey from humble beginnings to becoming one of the most influential figures in the finance sector serves as an inspiration to aspiring entrepreneurs and industry stalwarts alike. His relentless pursuit of excellence, coupled with his commitment to leveraging technology for social good, sets a benchmark for future generations to emulate.
Also Read: From Abhay Bhutada to Nirmal Jain — India’s Top Chartered Accountants
Conclusion
In conclusion, Abhay Bhutada’s indomitable spirit and remarkable achievements serve as an inspiration to aspiring entrepreneurs and industry stalwarts alike. With his importance soaring and his influence expanding, Bhutada continues to leave an indelible mark on the fabric of the finance sector, shaping its future in profound ways. With Abhay Bhutada at the helm, the possibilities are limitless, and the journey, is ever-inspiring.
