Paras in Action

News & Events

Paras looks to grow Machine Loan portfolio
Paras looks to increase its initiative & focus on machine loan portfolio which it piloted in 2011.

Paras overall portfolio size (over last 2 years)
At the beginning of the year 2010-2011 company's outstanding portfolio  was Rs.1.6 Crores  which reached to Rs.5.03 Crores at the end of the year with over 300% of growth. Till Sept 2011 outstanding portfolio is of Rs 6.39 Crores with growth percentage of around 400% as compared to March 2010.

Formation of Advisory Committee with Mas Financial Services Ltd and appointment of Mr.Mukesh Gandhi as its Chairman
During the year 2010-11, Company formed an Advisory Committee with Mas Financial Services Ltd and appointed Mr. Mukesh Gandhi as its Chairman. The committee was formed to guide the company in its fund raising activities, and look at new avenues of funding.

Paras breaks even on a month-on-month basis
Paras showed trends of breaking even on month-on-month basis even before the month of November 2010. From April 2011, the company has not looked back and posted a profit on a monthly basis.

Paras introduced Machine loans for MSME sector
Paras introduced Machine loans for MSME sector during the month of August 2011, with a pilot which showed very positive indicators.

Paras opens its 7th Branch in Kalyan during the month of May 2011

Date :  20th June 2010
Paras looks for partners in funding of rural customer.
Paras has a good infrastructure and is poised for growth and expansion in the segment.

Date: 25th May 2010
Paras has increased Capital
Paras has shored up it’s capital base from Rs.1.88 Crores to Rs.2.43 Crores to account for the increased lending and expansion plans. Most of the funds have come from the promoters.

Date:  15th January 2010
Paras Expands to Six Branches
The company has six branches i.e. Andheri, Thane, Borivali (all in Mumbai) and Dhankawadi and Hadapsar (Pune) and Ahmednagar which are now fully functional and is looking to expand to 10 branches in the next 6 months.

Customer Meet 20th October 2008
On 20th October 2008, company had its first customer meet. It was conducted at an auditorium SPRJ Kanyashala Trust at Ghatkopar Mumbai. The meeting was attended by over 500 customers.
The meet started with Management’s address on its Microfinance Business in Mumbai. 
Mr.P.Veeraraghavan the Managing Director, Mr. Nagendra Nashine the Business Head and Mr.Suresh Ghaithadke addressed the gathering apart from other officials of the company. 
The session was interactive in nature and many issues regarding Urban Microfinance were discussed.

Date: 10th July 2008 
Servicing the Paras Customer – customer education drive
The Customers are met with at their business or residential place and educated about the loan, its terms and conditions, repayment schedule etc. Our Collection & Verification agents collect the Equated Weekly Dues on a pre-decided day and time.

Facts & Figures

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