New Delhi, May 4 : The Xander Group on Tuesday announced the appointment of three new Directors in its Non Banking Finance Company — Xander Finance Limited’s board.
The company said the appointment of the three new Directors — Mr Rajesh Jogi, Mr Tariq Chinoy and Mr Varun Gopinath — is part of a larger reorientation of the NBFCs strategic goals, including a revamp of its Indian management team.
The Xander Group, Inc. is an investment holding company and the sponsor of independent, financial services and real estate businesses and partnerships, in Singapore and India, including in private equity real estate, private debt, real estate development and operations, and property advisory and management.
The company’s India based NBFC — XFL — since its formation, claims to have originated, disbursed and harvested over Rs 3,600 Crores of loans, has a capital adequacy ratio of 76 per cent at the close FY 2021, and a current net debt-equity ratio of 0.25x.
“Adding depth and breadth to the XFL board is a key first step in ensuring our well capitalized Indian NBFC remains nimble in its pursuit of new opportunities, while retaining the robustness in governance we expect from any Xander venture,” Xander’s founder Sid Yog said over the new appointments.
India remains focused to achieve its GDP target of US$ 4 trillion by 2025, and NBFCs are expected to play a critical role in financial intermediation to meet the diversified needs of industry to achieve this growth.
Over the last 10 years, the segment has grown rapidly, with total asset growth achieving a compounded annual growth rate (CAGR) of ~19%. In absolute terms, the asset size of the NBFC sector (including HFCs), as on March 31, 2020, was $700 billion, approximately a quarter of the current India credit market.
The sector will continue to play a formidable role in the Indian economy to facilitate deeper penetration and expansion of credit products and solutions.(UNI)