Bangalore, November 08, 2022: Mahindra Rural Housing Finance, one of the largest home finance companies serving rural & affordable areas across India and a subsidiary of Mahindra and Mahindra Financial Services Ltd. has announced the appointment of Mr. Shantanu Rege as the Managing Director and Chief Executive Officer. Mr. Shantanu Rege will succeed Mr. Rajnish Agarwal, who stepped down as a CEO & MD as of September 30th, 2022.
In his previous role Shantanu worked as an Executive Assistant to the Group Chairman, Mr. Anand Mahindra in 2012. Post his stint, Shantanu moved to the rural housing business in 2016 as a Chief Operating Officer. He has played a pivotal role in driving growth opportunities within the Rural housing business and spearheaded the setting up of the Affordable housing business.
Speaking on the appointment, Ramesh Iyer, VC & MD, Mahindra Finance said, “We are excited to have Shantanu Rege spearhead our Mahindra Rural Housing Finance business and we will look forward to capitalizing his expertise and leadership to explore newer and attractive growth opportunities. I am sure that his experience will hold us in good stead going ahead. I would like to place on record the enormous contribution made by Rajnish during his stint, helping us expand our rural housing business”.
Shantanu Rege, CEO & MD, Mahindra Rural Housing Finance mentioned, “Having witnessed the transformation potential of housing finance within the lives of customers and employees over the past few years, it is a privilege to take charge and lead the business going forward. The rural and affordable housing businesses have tremendous potential for growth. Over the next few years, we hope to transform the company into a leading housing finance franchise which addresses the housing needs of a cross section of customers through innovative solutions and partnerships.”
Shantanu holds an MBA degree from Harvard Business School and has previously worked with McKinsey & Co. and Blackstone in Mumbai prior to joining Mahindra Group.
Mahindra Rural Housing Finance has seen commendable achievements on all fronts viz. digital transformation, institutionalizing robust organizational and people processes and constantly pushing the envelope when it comes to exploring new products, geographies, etc.
About Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 8.1 million customers and has an AUM of over USD 11 Billion. The Company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The Company has 1,384 offices and reaches out to customers spread over 3,80,000 villages and 7,000 towns across the country.
Mahindra Finance has been ranked 54th among India’s Best Companies to Work 2021 by Great Place to Work Institute.
Mahindra Insurance Brokers Limited (MIBL), the Company’s Insurance Broking subsidiary is a licensed Composite Broker providing Direct and Reinsurance broking services.
Mahindra Rural Housing Finance Limited (MRHFL) a subsidiary of Mahindra Finance provides loans for purchase, renovation, construction of houses to individuals in the rural and semi-urban areas of the country.
Mahindra Finance CSR Foundation is a wholly owned subsidiary company, under the provisions of section 8 of the Companies Act, 2013 for undertaking the CSR activities of the Company and its subsidiaries.
Mahindra Manulife Investment Management Private Limited (formerly known as Mahindra Asset Management Company Private Limited) acts as the Investment Manager of Mahindra Manulife Mutual Fund (formerly known as Mahindra Mutual Fund).
Mahindra Manulife Trustee Private Limited (MMTPL), (formerly known as Mahindra Trustee Company Private Limited) acts as a Trustee to Mahindra Manulife Mutual Fund (formerly known as Mahindra Mutual Fund).
Mahindra Ideal Finance Limited (MIFL) is a subsidiary of the Company in Sri Lanka, in which the Company owns 58.2% stake. MIFL focuses on providing a diversified suite of financial services to the Sri Lankan market.
The Company has a Joint Venture in the US, Mahindra Finance USA LLC, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra vehicles in the US.
Learn more about Mahindra Finance on www.mahindrafinance.com / Twitter and Facebook:
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room