Poonawalla Fincorp Ltd Share Price – NSE  / BSE

Finance, Small Cap

Poonawalla Fincorp has embarked on a groundbreaking initiative by integrating Artificial Intelligence (AI) across its Human Resources (HR) Strategic Business Unit (SBU). This industry-first move, is set to transform operational standards and ignite innovation within the financial services sector.

Poonawalla Fincorp's AI integration has revolutionized HR processes by drastically reducing the time to finalize job offers from traditionally around ten days to just under one—a 90% decrease. This accelerated process is made possible by advanced AI tools that efficiently handle document verification and candidate screening. The use of AI has not only sped up the recruitment cycle but also achieved significant reduction in operational costs, significantly enhancing both efficiency and cost management.

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Poonawalla Fincorp announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 9 January 2025.

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Salil’s global experience across North America, Europe, and Asia-Pacific further strengthens Poonawalla Fincorp’s commitment to leveraging technology for growth. As CTO, he will shape the company's technology roadmap, enhance operational efficiency, and deliver superior customer experiences.

With over two decades of experience in technology leadership, Salil Hajarnis has an impressive track record of delivering impactful results in enterprise architecture, AI integration, and software engineering. Previously at Fiserv, as Head of Technology for India, he spearheaded initiatives including AI-driven and API-enabled solutions, real-time integrations, and platform modernization across India, ASEAN, and Australia.

Before Fiserv, Salil Hajarnis held senior roles at Capgemini, where he managed complex transformations and developed technology-driven customer experiences, playing a pivotal role in shaping the technology strategies for lending businesses of global financial institutions.

Arvind Kapil, managing director and CEO, Poonawalla Fincorp, said, “Salil’s expertise in AI, enterprise architecture, and digital innovation makes him an invaluable addition to our leadership team. His proven ability to execute large-scale technology transformations will be instrumental in enhancing customer experiences and driving our competitive edge in the NBFC space.”

.Expressing his vision for the role, Salil Hajarnis said, “It’s an exciting time to be part of Poonawalla Fincorp’s journey as it redefines the financial services landscape. I look forward to collaborating with the team to create scalable, future-ready technology solutions that not only enhance efficiency but also set new benchmarks in customer satisfaction.”

Poonawalla Fincorp is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The company’s financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, loan against property, supply chain finance, machinery loans, medical equipment loans and consumer loans. It has AUM of Rs 28,396 crore as on 30 September 2024, and employs around 2560 people

The company reported consolidated net loss of Rs 471.04 crore in Q2 FY25 as compared with net profit to Rs 860.17 crore in Q2 FY24. Total income declined 36.4% YoY to Rs 996.50 crore.

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Net loss of Poonawalla Fincorp reported to Rs 471.04 crore in the quarter ended September 2024 as against net profit of Rs 860.17 crore during the previous quarter ended September 2023. Sales rose 33.88% to Rs 988.87 crore in the quarter ended September 2024 as against Rs 738.65 crore during the previous quarter ended September 2023.

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