THIS Kerala Based Firm Has Become India’s First Miscellaneous NBFC To Cross Rs 1 Lakh Turnover

Kerala State Financial Enterprises (KSFE) has become India's first miscellaneous non-banking financial company to attain a turnover of Rs 1 lakh crore, reported news agency PTI. To mark the achievement of the company, Kerala Chief Minister Pinarayi Vijayan will inaugurate the celebratory event at Central Stadium on Wednesday.

The event will be chaired by Finance Minister KN Balagopal and will also include the launch of the "KSFE Onam Samriddhi Gift Card" by Food and Civil Supplies Minister G R Anil.

From Rs 50,000 Cr to Rs 1 Lakh Crore: Story Of KSFE's Double-Engine Growth

The rapid growth of the KSFE's business turnover in a short span of four years underlines the growing public trust in the NBFC, according to news agency PTI. Finance Minister Balagopal noted that this reflects KSFE's growing popularity among its customers.

Over the past four years, the NBFC has provided crores of financial assistance to the state government and has also expanded its footprint in the low-risk investment segments like fixed deposits.

"In the past four years, we have provided Rs 504 crore in financial assistance through interest waivers, contributed Rs 920 crore to the state government, and hold fixed deposits worth approximately Rs 8,925 crore in the state treasury," said KSFE Chairman K Varadarajan.

KFSE Financial Performance

Managing Director S K Sanil said that KSFE achieved a profit of Rs 512 crore for the fiscal year 2024-25. According to Sanil, the company's consistent profitability reaffirms its status as a consistently profitable public sector enterprise. The company's financial performance also underscores its stability and growth potential, he added.

Other than Kerala CM and other ministers, renowned actor and KFSE brand ambassador Suraj Venjaramoodu will be present as the guest of honour at the event.

KFSE's New Tagline

Apart from shedding light on KFSE's achievement as one of India's largest NBFCs, the event will also mark the inauguration of KFSE's new tagline. According to news agency PTI, Chief Minister Vijayan will also unveil KSFE's new tagline: "KSFE: The Courage of Kerala." This tagline encapsulates the spirit and resilience of both the company and its home state.

This milestone not only marks KSFE's success but also sets a precedent for other non-banking financial companies in India. It showcases how strategic planning and public trust can drive significant growth in a short period.

About Kerala State Financial Enterpises

Established on 6 November, 1969, Kerala State Financial Enterprises started its journey as an entity with a paid up capital of Rs 2 lakhs and merely 45 employees. Over five decade later, the company operates with nearly 600 branches and 6782 employees.

KFSE is a fully state government owned company and has around 13 regional offices. The company's main busionesws is chitty, which means that the firm mainly operates in chit funds management. In addition to this, the firm also accepts deposit from public and disburse loan among them. KFSE's Kannur Region includes 46 branches lying in Kannur and Kasargod Districts.