(Eds: Disclaimer: The following press release comes to you under an arrangement with Business Wire India. PTI takes no editorial responsibility for the same.)
Bengaluru, Karnataka, India – Business Wire India
Vistaar Finance, an NBFC lending to MSMEs in India, has received an upgrade in its credit rating as per ICRA rating rationale dated [17th June, 2022]. The long term credit rating of the Company has been upgraded from [ICRA] A- (Stable) to [ICRA] A (Stable). The upgrade in the credit rating is after a detailed analysis of Company’s performance including the impact of Covid-19 period.
Company has exceptionally managed the portfolio growth and credit risks by constantly being in touch with the ground realities considering the changing economic scenarios affected by Covid-19.
Founded by Brahmanand Hegde & Ramakrishna Nishtala in 2010, Company today has [~2,100] employees with an institutionalized framework in place. Vistaar finance will continue to focus on lending to MSMEs through its deep understanding of specific customer segments, fulfilling their financial needs through customised products and simple processes.
About Vistaar Finance
Vistaar Finance manages an AUM of INR 2,420 cr as on March, 2022. GNPA has reduced from 3.2% as on March, 2020 to 2.8% as on March, 2022. Focused on an average ticket size of ~ INR 10 lacs providing business & housing loans with 100% security against property, Company is present across 12 states and  branches and will be further penetrating into these states for growth.
Company has recently also received the India Risk Management Award – Masters of Risk for best risk management practices in the private sector small cap space instituted by ICICI Lombard and CNBC TV 18. Further, Company has also been named in India’s top 100 Best Companies To Work For as well as in top 30 Best Workplaces in the BFSI sector.
Facebook - https://www.facebook.com/Vistaarfinancialservices/?ref=pagesyoumanage
Instagram - https://www.instagram.com/vistaarfin/
Twitter - https://twitter.com/VistaarLtd