Bajaj Finserv Ltd.
Sanjiv Bajaj faced a daunting challenge when he took over the reins of Bajaj Finserv (BFS) in 2008. The newly spun-off company was running at a loss — and he was new to the financial services sector.
This was a chance for Sanjiv, whose family has led the 91-year old Bajaj Group for four generations, to prove his mettle. He has gone on to transform BFS into India’s third largest financial services company with major interests in lending and insurance. In 2017, BFS reported profits of US$348.8m, and the company’s market cap has grown over 10 times since 2010 to US$12.7b.
This rapid growth has been achieved through a combination of what Sanjiv calls “technology, innovation, disruption and differentiation.” It is also through doing business “the Bajaj way” which means a culture of transparency and strong ethics.
Sanjiv takes a long-term view of the company and has no doubt about what he wants to achieve: “The goal of all the 26,000 employees of the group is to build the best financial services company in India. Period.”