Lodha is a qualified CA and brings with him 20+ years of Industry experience. He is currently the CFO of Hinduja Leyland Finance and in past has been in a similar role with various other leading organizations including Future group and SREI Infrastructure. He has held various offices in the financial domain ranging from managing accounting, taxation, financial controller, RBI Compliance, and treasury, the NBFC said in the press release.

Announcing the appointment, Shachindra Nath, vice chairman and managing director of U GRO stated, “We welcome Kishore in our team as the chief financial officer. Given the size and diversity of the liability base and the dynamic regulatory landscape on finance and accounting it is desirable to bequeath the role of the CFO to an individual who has experience and deep understanding of the nuances of a large and dynamic Non-Banking Finance Company with the understanding of an ever-changing landscape.”

He further added, “Over a period of the last few years, we have built a great organisation around asset origination and credit delivery and with Kishore joining us we believe that Finance and Treasury would be augmented to support our growth. The entire management team wishes him a successful journey at U GRO.”

U GRO over FY21 to FY22 has grown its asset under management (AUM) from Rs 1,375 crore to Rs 3,656 crore and recently has reached the milestone of Rs 4,000 crore. The NBFC's aim is to reach Rs 7,000 crore of AUM by end of FY23 and Rs 20,000 crore by end of FY25, the company stated.

Ugro Capital is an MSME lending fintech platform. It uses the emerging data tripod of GST, banking and bureau coupled with its sectoral analysis to solve the problem of credit for small businesses.

The company reported a 331.8% surge in net profit to Rs 7.34 crore on a 141.4% jump in total income to Rs 123.80 crore in Q1 FY23 over Q1 FY22.

Shares of Ugro Capital were up 0.60% to Rs 192.35 on the BSE.