Business Description:Annapurna Financial Services is a private microfinance institution headquartered at Mancherial in Adilabad district in Andhra Pradesh, India.
Our main business activity involves providing comprehensive financial and business solutions to low income individuals and enterprises, such as small loans to groups of women without collateral requirement.
Under the ultimate goal of 'No bankable poor left behind,' we thrive to reach the unreached, both men and women, in rural as well as urban areas where credit market for the poor is essentially non-existent. We currently offer microcredit and micro-insurance services and is planning for money transfers and eventually, based on regulatory permissions, micro-savings, through individual and group approaches so as to reach different market segments.
Industry:Finance
Founded in:2007
Source of idea:
Significant Competitors:Share Microfin Ltd, SKS Ltd, Spandana Financials and BASIX
Company Details :
Company Name:Annapurna Financial Services
HeadQuarters:Hyderabad
Stage of the company:Scaling up
No of Employees (2006):Did not exist
No of Employees (2007):26-50
Office Locations(2006):Did not exist
Office Locations(2007):6-15
No of companies promoted:No
Profits (2006):Did not exist
Profits (2007):6 to 15 lacs
>Partnerships:N.A.
Initial Funding:Bank loans & mortgages
Addl Funding:Bank loans & mortgages
Institutitional Capital:Yes
Revneue Model:Product Mix, Efficient usage of technology
Awards & honors:N.A.
Promoters Details :
Promoters Name(s):Kishore Puli
Age:37
HomeTown:Chennoor
Education:Masters Osmania university
No of companies promoted:No
Family Background:First gen entrepreneur
Job:Chief Manager at ICICI Bank
Ex-Job Description:State Head for micro finance banking
Favorite Book/Movie:Suitable Boy of Vikram Seth, Movie: Gandhi
