The De-Risking Blueprint: What Manoj Pasangha’s Elevation Means for Asirvad and Microfinance

Pasangha, a seasoned microfinance veteran who previously served as President & Deputy CEO of IIFL Samasta Finance, joined Asirvad as Co-CEO in October 2025. His appointment coincided with one of the most turbulent operational environments for Indian microfinance, characterized by rural cash flow strain, borrower over-indebtedness, and heightened regulatory scrutiny over uncollateralized lending practices.

The Turnaround Mechanics: From Stress to ₹21 Crore PAT

Under Pasangha’s operational leadership, the Manappuram Finance subsidiary prioritized portfolio remediation over aggressive book expansion. The strategy yielded immediate dividends: Asirvad returned to profitability, reporting a Profit After Tax (PAT) of ₹21 crore in Q1 FY2027.

However, the more consequential structural development lies in Asirvad's asset composition. Managing an on-book portfolio exceeding ₹8,000 crore, the lender has recalibrated its exposure to approximately:

• 70% Microfinance: Focusing on tightened credit appraisal, smaller ticket sizes, and disciplined collection cadences.
• 30% Gold Loans: Directly leveraging the underwriting infrastructure and brand equity of parent Manappuram Finance Limited.