LMOTY 2024: Abhay Bhutada of Poonawalla Fincorp Honored with Lokmat Maharashtrian of the Year Award

Abhay Bhutada, Managing Director of Poonawalla Fincorp Limited, was honored with the prestigious 'Lokmat Maharashtrian of the Year' (LMOTY) award, recognizing his significant contributions to Maharashtra's development.

In 2019, Abhay co-founded Poonawalla Finance Private Limited and assumed the roles of Managing Director and CEO. Through this venture, he spearheaded the development of a digital-centric lending strategy. Under his guidance, the company achieved profitability within its inaugural year and earned an impressive "AA+" credit rating from Care Ratings Limited.

In 2021, Abhay led the acquisition of a long-standing financial services conglomerate, seamlessly integrating it with his digital-first approach. As the Managing Director of Poonawalla Fincorp Limited, he is currently dedicated to pioneering new business avenues, strategizing and achieving business objectives, and prioritizing digitalization, risk management, and corporate governance.

Under his guidance, Poonawalla Fincorp achieved an external credit rating of ‘AAA’ from both CRISIL Ratings Limited and CARE Ratings Limited. Abhay consistently demonstrates his adeptness in team and leadership development, while also emphasizing the enhancement of culture and systems to establish a profitable franchise with exceptional asset quality.

Lokmat Maharashtrian of the Year aims to celebrate the outstanding achievements of individuals who have left an indelible mark on Maharashtra and beyond. Over the years, Piyush Goyal, Nitin Gadkari, Sushil Kumar Shinde, and Nita Ambani have been a part of the jury panel. The selection process for the LMOTY awards involves editorial meetings, public voting, and evaluation by a jury.In addition to the main awards, LMOTY also gives special honors on individuals who have made exceptional contributions to society. Past recipients include Pratibha Patil, Amitabh Bachchan, and Aamir Khan, among others, whose exemplary achievements have inspired millions.