Veritas Finance AUM Crosses Rs 1,000 Crore Mark
Indian rupees are arranged for a photograph in Mumbai, India. (Photographer: Scott Eells/Bloomberg News)

Veritas Finance AUM Crosses Rs 1,000 Crore Mark

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Chennai-based non-banking finance company Veritas Finance on Monday said the assets managed by it surpassed the Rs 1,000 crore mark during the current fiscal.

Veritas Finance is focused on lending to micro, small and medium enterprises and has a presence in eight states and one union territory. "Veritas Finance over the period till Sept. 30, 2019, has disbursed more than Rs 1,400 crore. The current customer base is 40,386 with outstanding loan book is at Rs 1,048 crore," an official said.

Veritas Finance managing director and Chief Executive Officer D Arulmany said it has been one of the greatest milestones that the company has achieved since it began operations. "When commencing the business in October 2015, we had drawn a vision map with three district phases of growth. Reaching a loan book of Rs 1,000 crore in the first four years was the first milestone in the vision map. We are happy we are able to reach the milestone," he said.

"We are well aware that this would be a journey where the ascent would get steeper and milestones even bigger," he said. During the current financial year, Veritas Finance added 46 branches to take the total number to 193 branches and also commenced operations in Jharkhand.

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