Founded in 1990 by Maroti Gendaru Jawanjar, Berar Finance is one of Nagpur’s oldest vehicle-financing non-banking financial companies. The firm operates more than 160 branches in nine states, offering two-wheeler loans and, more recently, secured MSME loans aimed at small entrepreneurs, farmers and traders earning under $350 a month. Management, now led by second-generation promoter Sandeep Jawanjal, intends to turn Berar into a multi-product NBFC with a focus on growth, profitability and asset quality. As of FY24, Berar reported total assets of ₹1,316 crore, up from ₹1,141 crore the previous year, and net profit increased to ₹22 crore from ₹17 crore. A Crisil report shows FY25 total assets of ₹1,589 crore and net profit of ₹32 crore. The company’s assets under management stand at roughly ₹1,500 crore, with funding sourced 17% from public deposits and the rest from term loans, NCDs, cash credit and pass-through certificates. Previous capital infusions total ₹156 crore from family, promoters and investors such as Maj Invest and Amicus Capital Partners. Future plans include deepening two-wheeler financing and scaling the nascent secured MSME loan portfolio.

Total raised

$17M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2025