Ambit Finvest: Navigating Growth with Transformation

Vikrant Narang emphasizes that Ambit Finvest is an omnichannel NBFC that wants to develop multiple origin points to be able to choose the best proposals to underwrite | Ambit Finvest Pvt. Ltd, one of the fastest growing non-banking financial companies (NBFC) in India, has charted an aggressive growth story:

- Vikrant Narang

Ambit Finvest Pvt. Ltd., which started with just 20 branches in FY19, has plans to expand its branch network to 100 by the end of the fiscal year. The company is betting big on the MSME lending business evinced by the fact that its MSME loan portfolio has grown at a CAGR of around 62% over the last three and a half years.

Vikrant Narang, Deputy CEO at Ambit Finvest, adds details: “We are executing a well-planned operational and tactical strategies to aid our expansion plans. As a first step, we are expanding our distribution network based on carefully curated market intelligence, empowering credit managers at the lower end of the spectrum and strengthening our processes and systems by embracing new age technology.”

Interestingly, Ambit Finvest ’s transformation journey began in the year 2017 after Narang joined the organization. “While we were building a structured corporate lending book and we wanted to scale and granularize our business.”

GOING GRANULAR

Ambit decided to look beyond the traditional B2B business model and tap opportunities in the MSME segment, with a B2C business case. “Since it was a new business model, we were apprehensive. But the acquisition of Finmax Credit and Finance Pvt. Ltd. and Sanjay Agarwal’s addition to the team in 2018, provided us with the impetus to jog ahead.”

The acquisition increased Ambit’s people strength by 150 and added a portfolio of ₹2 billion to its books; with an average ticket size of close to ₹5 million. The 2018 liquidity crunch triggered by credit default by a large NBFC strengthened the company’s resolve to build a strong MSME portfolio.