first woman to lead India’s largest NBFC
The Public Enterprise Selection Board (PESB) has proposed Parminder Chopra as the next Chairman and Managing Director (CMD) of Power Finance Corporation (PFC), India’s largest NBFC by net worth.
If appointed, Chopra will become the first woman to hold the prestigious position at the Maharatna company.
With over 15 years of experience at PFC, Chopra currently serves as the Director (Finance) and CFO, in addition to being a member of the board of directors. The announcement was made by the power sector NBFC on Monday.
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Chopra, the newly appointed CMD, brings over 35 years of experience in the power sector, having worked at prestigious organizations such as the National Hydroelectric Power Corporation of India (NHPC) and the Power Grid Corporation of India (PGCIL).
With a Bachelor’s degree in Commerce, a Cost Accountant qualification, and an MBA, Chopra is well-equipped to drive PFC’s strategic initiatives and lead the organization’s growth trajectory.
Her extensive expertise in project financing and infrastructure development, combined with her visionary leadership, is expected to catapult PFC to new heights of success.
Chopra’s appointment as the CMD sets a remarkable precedent for women professionals, inspiring emerging leaders and recognizing the significant contributions of women in leadership positions. This marks a significant step towards breaking down gender barriers and promoting inclusivity within the corporate realm.
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“Power Finance Corporation (PFC) reported a solid 7% YoY growth in its consolidated net profit, totaling ₹5,241.10 crore in Q3 FY23. The company’s total income increased to ₹19,662.65 crore in the same quarter, up from ₹19,213.69 crore in the corresponding period the previous year.
PFC’s loan asset book also hit a new high, crossing ₹8-lakh crore, with the loan asset book standing at ₹8,04,526 crore as of December 31, 2022. Furthermore, the company’s consolidated disbursements reached ₹1,06,875 crore for the first nine months of FY23, surpassing the ₹1 lakh crore-mark and recording a solid YoY growth of 28%. Overall, PFC’s robust financial performance is a testament to the company’s strong business strategy and ability to adapt to changing market conditions.”