What we do MAS Financial Services Limited is a Gujarat-based NBFC offering diversified retail financing to lower and middle-income groups across India, specializing in MSME, vehicle, personal, and housing loans. |
Founded in 1,995 |
Market share AUM of Rs 12,868 crore in FY25 with 204 branches and a strong presence in 13 states; recognized for stable growth and risk management. |
Problem solved Addresses credit gap for underserved MSME and retail segments with tailored, last-mile financing solutions across diverse geographies. |
Top clients or who we serve Lower and middle-income individuals, micro and small enterprises, salaried professionals through B2C, and NBFC partners in B2B channels. |
Key management Chairman & MD Mr. Kamlesh Chimanlal Gandhi with 30+ years of industry experience; CEO Mrs. Darshana Pandya with 30+ years in the sector. |
Our journey and innovations Founded in 1995, evolving from consumer durable loans to diversified MSME and housing finance; pioneered tech solutions like MASEX ERP and digital lending platforms. |
Where we operate Active in Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Tamil Nadu, Karnataka, Delhi NCR and other states, totaling 204 branches and extensive partner network. |
Top products or what we offer Micro Enterprise Loans, SME Loans, Two-Wheeler Loans, Commercial Vehicle Loans, Salaried Personal Loans, Housing Loans via subsidiary MRHMFL. |
Top brands MAS Financial's flagship financial products include Micro Enterprise Loans, SME Loans, and its housing finance subsidiary MRHMFL. |
Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution Mostly recurring revenue from interest on loans; some seasonality aligned to credit cycles, but primarily steady given essential nature of financing. |
Our industry position Strong credit ratings (AA Stable), prudent risk management, growing AUM past Rs 12,868 crore, and recognized among top retail-focused NBFCs in India. |
Financial highlights FY25 consolidated revenue Rs 1,596 crore; PAT Rs 314 crore; 24%+ revenue growth; robust capital adequacy of 24.72%. |
Geographical revenue split - |
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Whats driving growth Market credit gap in MSME and retail sectors, strategic branch expansion, digital lending, diversified products and strong partner NBFC network. |
Our future plans Expand branch network, deepen SME and vehicle loan portfolios, grow housing finance, enhance digital capabilities, and pursue sustainable profitable growth. |
Our green promise - |
Our people and values 4,216 employees; emphasis on performance-driven and inclusive culture; certified 'Great Place to Work' for multiple years; strong talent retention. |
Key challenges ahead Managing credit risk amid economic cycles, regulatory compliance, competitive digital lending landscape, and maintaining asset quality. |
Interesting facts MAS was established with Rs 2 crore in 1995; AUM crossed Rs 10,000 crore by 2023; raised Rs 500 crore via QIP in 2024; partner to 200+ NBFCs. |
Risks and strategy Focus on prudent risk management, strong credit underwriting, continuous policy refinements, and digital tools for sustained portfolio quality and growth. |
