Investor Zone

S Nagarajan bets big on HLF as a frontline asset financing NBFC.

A year ago, he was assigned the task of re-building the asset financing business based on his proven expertise. For S Nagarajan, MD, Hinduja Leyland Finance (HLF), the new NBFC arm of the Hinduja Group, taking on challenging roles is not new. Like the erstwhile Ashok Leyland Finance (ALF) which he steered for over 15 years till its merger with IndusInd Bank (IBL) in 2004, Mr Nagarajan is now betting big on HLF emerging as a frontline asset financing NBFC in three years.

Mr Nagarajan, a chartered accountant, joined Ashok Leyland (AL) in 1973, going on to write the company's general ledger - which is still used. Every vehicle would move out of the company's plant only after he signed. "All of a sudden in 1988, I was asked to head ALF which that time was a small firm based in Kolkata. It had a capital of 50 lakh, five people and with a credit limit of 25 lakh. I thought I was punished. Later, I realised the faith people had in me when Ashok Leyland Finance grew to become the largest player in the field with an asset size of 8,000 crore, 1,200 offices and 2,000 people," he recalls, with a tinge of pride.