1995
On incorporation, commenced retail finance operations with Two-wheeler and Micro-Enterprise loans.
Purpose Led.
Progress Driven.
At MAS, we are committed to empowering individuals to become truly self-reliant, supporting their basic needs and helping small and medium enterprises (SMEs) turn their vision into sustainable growth.
Established in 1995, MAS Financial Services Ltd. has been committed to delivering financial solutions to those who need them most. Registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India, MAS has evolved with changing times while staying true to its core purpose.
With a strong portfolio of retail finance offerings, MAS focuses on addressing the financial needs of lower-income and middle-income segments. Our solutions span Micro Enterprise Loans, SME Loans, Home Loans, Two-Wheeler Loans, Used Car Loans, and Commercial Vehicle Loans, designed to meet diverse requirements across different life and business stages.
Our primary focus remains on individuals and enterprises across urban, semi-urban, and rural India, including both formal and informal sectors. For over three decades, we have been proud to serve this segment, building relationships based on trust, accessibility, and responsible credit.
At MAS, we understand the realities of limited documentation and evolving credit profiles. Our credit assessment approach evaluates borrowers from multiple perspectives, enabling access to finance even in the absence of conventional credit records. We also work closely with partner MFIs, NBFCs, HFCs, and franchisees to extend financial services to underpenetrated regions and the bottom-of-the-pyramid segment.
To deliver first-class services at the doorstep, we have built a strong distribution network of 205+ branches across Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Tamil Nadu, Karnataka, Chhattisgarh, and New Delhi. With a reach across over 15,000 locations, our network continues to expand to serve customers efficiently, wherever they are.
Today, MAS manages over 10,00,000 live loan accounts, reflecting the trust and credibility we have built over the years. As financial solution specialists, we remain committed to supporting your growth at every step.
Contact us today to find the right financial solution for your needs.
MAS aims to be one of the most efficient distributors of financial services. Efficiency refers to the extent to which time, effort, and cost are used effectively for the intended purpose. It means making optimum use of available resources to generate the highest possible productivity. We firmly believe that even the largest company can collapse if it is not efficiency-conscious, and even the smallest company can become a powerhouse if it focuses on improving efficiency.
MAS continuously strives for optimum efficiency in all its activities. In the years to come, we envision MAS and the process of financial service distribution at MAS becoming a benchmark for the industry. We aim not only to set standards for others but also to raise our own standards regularly, continually challenging ourselves. This is our vision.
MAS also aims to create value on a very large scale.
Every business should primarily focus on increasing value for all its stakeholders. From time to time, a company must adopt and adapt business models that help it achieve this essential goal of creating large-scale value.
MAS currently focuses on the vast lower-income and middle-income groups across urban, semi-urban, and rural areas, including individuals from both the formal and informal sectors. Our business model, extensive experience, and strong distribution network place us in a unique position in the industry.
Having defined a clear vision, it is essential to translate it into a mission, a guiding principle that directs how the organization and its employees will work to achieve the vision. The mission statement outlines the practical steps the organization and its employees will take to turn the vision into reality.
At MAS, "Endeavor" signifies our relentless pursuit of excellence. We believe that excellence is an ongoing journey, not a destination. It's a habit that we continuously cultivate across our organization. We work diligently to ensure this mindset permeates every level, from our employees to our customers, fostering a culture of unwavering commitment to quality in everything we do.
MAS firmly believes in the "Power of Distribution", using it to expand its network and achieve its vision. By combining "Excellence through Endeavor" with strategic distribution, the company is committed to becoming the most efficient distributors of financial services.
In the financial services ecosystem, intermediaries like banks, NBFCs, and HFCs are crucial for efficient resource utilization. At MAS, we continuously strive to be a responsible and efficient intermediary, dedicated to realizing our vision.
Mr. Kamlesh Gandhi is the Founder of the Company and a seasoned industry practitioner with over three decades of experience in building and scaling financial services businesses. Since the Company’s early years, he has played a defining role in shaping its vision, values, and long-term direction.
His strong understanding of the industry, fundamentals-driven approach, and ability to anticipate change have been key contributors to the Company’s sustained growth and consistent performance. Under his leadership, the organisation has evolved steadily while remaining firmly anchored in prudent governance and responsible business practices.
Late Shri Mukesh Gandhi was the Co-founder, Whole-time Director and Chief Financial Officer of the Company. From its humble beginnings in 1995, he played a pivotal role in building the organisation on strong fundamentals and guiding it to its present stature.
Known for his positivity, enthusiasm, pragmatism and kindness, he set several progressive benchmarks during his entrepreneurial journey. The Company was, and continues to be, immensely benefitted by his vision and vigilance, which remain deeply embedded in its culture and way of working. He was also a respected industry expert and a widely regarded public speaker.
Mr. Kamlesh Gandhi serves as the Chairman and Managing Director of the Company. In this role, he oversees strategic direction and governance, working closely with the Board to guide the Company’s growth and performance.
With more than three decades of leadership experience, he brings strong operational insight and strategic clarity to the Board. His vision and decision-making continue to be among the key drivers of the Company’s stability and long-term success.
He is also a Director on the Board of the Finance Industry Development Council (FIDC) and serves as Director in MAS Rural Housing & Mortgage Finance Limited, MASFIN Insurance Broking Private Limited, Prarthna Marketing Private Limited, Swalamb Mass Financial Services Ltd, and DHI Advisors Private Limited.
Mrs. Darshana Pandya leads the overall operations of MAS and oversees relationships with more than 90 NBFC-MFI and NBFC partners. A commerce graduate, she joined the Company in 1996 as a junior executive and, through consistent performance, dedication and strong execution, progressed to the role of Director & Chief Executive Officer.
She currently also serves as a Director on the Boards of MAS Rural Housing & Mortgage Finance Limited, MASFIN Insurance Broking Private Limited, Prarthna Marketing Private Limited and Swalamb Mass Financial Services Ltd
Mr. Dhvanil Gandhi has over a decade of experience with the Company and has worked closely with the core leadership team in key strategic roles. He has played a significant role in building and scaling the SME lending vertical across branches nationwide, contributing meaningfully to the Company’s growth and market presence.
He has also been actively involved in strengthening the insurance business, particularly for captive borrowers. Under his leadership, the Company applied for an insurance broking licence to serve a wider customer base, acting as a catalyst for improved insurance access and penetration.
Mr. Dhvanil Gandhi holds a Bachelor’s degree in Business Administration from Ahmedabad University and a postgraduate degree from the Indian School of Business, Hyderabad. His academic exposure includes executive and international programmes at Kellogg School of Management (USA), IE Business School (Spain), London School of Economics (UK), and the National University of Singapore.
Mr. Umesh Shah is a Chartered Accountant. He has more than 35 years of experience in the diverse fields connected with Finance, Accounting, Auditing and Taxation. He also has 5 years hands-on experience of working in an NBFC.
He currently serves as a Director in MAS Rural Housing & Mortgage Finance Limited.
Mr. Narayanan Sadanandan brings nearly four decades of experience across banking and financial services, including fund management, investment banking, international banking, and corporate, commercial and retail banking, with a strong focus on MSME finance.
He has previously served as Advisor – Equity Capital Markets at SBI Capital Markets Ltd and as Managing Director & CEO of SBI Pension Funds Private Ltd. He currently holds directorships in Allied Blenders and Distillers Ltd, Infibeam Avenues Limited, Prabha Energy Limited, and NCDEX E Markets Limited, and is a Senior Advisor at Modulus Alternative Investment Management Ltd.
Mr. Vishal Vasu is a certified technology specialist on Microsoft platforms and a certified cybersecurity expert, with over two decades of experience in the IT industry. His expertise spans systems engineering, software development, information management, cybersecurity, and technology architecture, with a strong focus on research, innovation and scalable digital ecosystems.
He is currently a Director on the Boards of Dev Information Technology Limited, MAS Rural Housing & Mortgage Finance Limited, and MINDDEFFT Technologies Private Limited. He is also a frequent speaker, contributor to publications, and an active blogger in the field of information technology.
Dr. Barnali Chaklader has over 26 years of experience in academia, having served as core and visiting faculty at leading institutions in India and abroad, including IMT Ghaziabad, IMI New Delhi, IIM Lucknow, SP Jain Institute of Management (Singapore), Euromed Management University (France), and Kufstein University (Austria).
She has presented research at numerous national and international conferences and has published extensively in reputed journals. A seasoned corporate trainer, she has received multiple awards for her contributions to education and research. Dr. Chaklader is a Fellow Member of the Institute of Cost Accountants of India and holds a PhD from Bundelkhand University, along with degrees in Commerce from Delhi University and an MBA from Lalit Narayan Mishra Institute, Patna. She is currently a Professor of Finance and Accounting at IMT Ghaziabad.
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Government of India's apex think tank, with the rank of a cabinet minister. He is the Founding Director & current Chairman of Pahle India Foundation - a public policy think tank. He also served as an independent director on the Central Boards of the Reserve Bank of India and the State Bank of India.
He has over 40 years of experience in the banking and financial services sector and has been associated with leading trade related organisations. He has been involved with various Committees constituted by the RBI on NBFC related matters, including the recently constituted Group of Advisors to Regulations Review Authority.
He is Former Executive Director of Reserve Bank of India and Former Director of Bank of Mauritius. He was Nominee Director on the Boards of three PSU banks in India.
