MAS Financial Services
MAS Financial Services is an Indian NBFC providing MSME and retail credit products including micro enterprise loans, business loans, vehicle financing, and home loans, serving 1.3 million+ borrowers across 14 states through 205+ branches.
- Company typePublic
- Founded1995
- HeadquartersAhmedabad, India
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What MAS Financial Services does
MAS Financial Services Limited is an Indian non-banking financial company (NBFC) founded in 1995 and headquartered in Ahmedabad, Gujarat. Listed on Indian stock exchanges under ticker MASFIN, the company provides retail and wholesale credit products to micro, small, and medium enterprises (MSMEs) and individual borrowers, with MSMEs accounting for approximately 75% of its loan book. Its product portfolio spans eight core lending products: Micro Enterprise Loan (up to Rs 50 lakh), Business Loan (up to Rs 1 crore), Loans Against Property (up to Rs 5 crore), Two-Wheeler Loan (up to Rs 2 lakh), Used Car Loan (up to Rs 10 lakh), Commercial Vehicle Loan, Salaried Personal Loan (up to Rs 5 lakh), and Home Loans through wholly-owned subsidiary MAS Rural Housing and Mortgage Finance Limited (MRHMFL).
The company operates on a hybrid distribution model combining 205+ branches across 14 Indian states with a 215+ business partner network, with direct sourcing contributing 65% of loan originations. Its technology stack consists of a standard NBFC lending platform supporting digital application processing, an online application portal, and an EMI calculator — no proprietary AI/ML capabilities are disclosed. MAS serves over 1.3 million live loan accounts across 16,500+ service locations.
Revenue is generated predominantly through interest income on the loan book (subscription-recurring model) with monthly EMI billing across products. FY2026 reported revenue was Rs 1,995.43 crore with net profit of Rs 371.21 crore (up 19.60% YoY). Q4 FY26 net profit grew 25.04% YoY to Rs 103.12 crore. The company achieved consolidated AUM of Rs 15,000 crore and PBT of Rs 500 crore in Q4 FY26, and has publicly committed to a Vision 2036 plan targeting Rs 1 lakh crore in AUM with 20-25% annual growth, 15-17% ROE, and 2.75-3.00% ROA. Backing includes Motilal Oswal Alternates and an offshore investor via a 2024 Qualified Institutional Placement.
MAS Financial Services firmographics
Firmographics- Name
- MAS Financial Services
- Legal name
- MAS Financial Services Limited
- Website
- http://www.mas.co.in
- Company type
- Public
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- MAS Financial Services is an Indian NBFC providing MSME and retail credit products including micro enterprise loans, business loans, vehicle financing, and home loans, serving 1.3 million+ borrowers across 14 states through 205+ branches.
- Ownership category
- akta.pro rank
MAS Financial Services industry classification
Industry- Product category
- Non-Banking Financial Services (MSME & Retail Lending)
- NAICS
- Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)
- SIC
- Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)
- akta.pro primary industry
- SME Term Loans & Growth Capital (FSAKAGAB)
- akta.pro secondary industries
- Microloans & Working Capital Loans (FSAKAGAA), SME Lending Platforms & Embedded SME Credit (FSAKAGAJ)
Keywords
Where MAS Financial Services is headquartered
LocationHeadquarters
- HQ city
- Ahmedabad
- HQ country
- India
- HQ region
- Asia
Offices17 records
Markets served
MAS Financial Services business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- MSME Lending: Primary revenue stream generating nearly three-fourths of the loan book, providing loans to micro, small and medium enterprises including micro enterprise loans up to Rs 50 lakh and SME loans up to Rs 1 crore
- Two-Wheeler Financing: Retail lending for two-wheelers with loans up to Rs 2 lakh, generating interest income through installment payments
- Used Car Loans: Financing for pre-owned vehicles up to Rs 10 lakh with competitive interest rates
- Commercial Vehicle Loans: Business financing for commercial vehicle acquisition with tenure up to 60 months
- Loans Against Property: Secured lending leveraging property equity with loan amounts up to Rs 5 crore and tenure up to 180 months
- Salaried Personal Loans: Unsecured personal loans for salaried individuals up to Rs 5 lakh
- Housing Finance (MRHMFL): Home loans through subsidiary MAS Rural Housing and Mortgage Finance Limited, with potential IPO planned within five years
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Micro Enterprise Loan: Loan amount up to Rs 50 lakh, tenure up to 120 months |
| Unit Pricing | Monthly | Business Loan: Loan amount up to Rs 1 crore, tenure up to 36 months |
| Unit Pricing | Monthly | Loans Against Property: Loan amount up to Rs 5 crore, tenure up to 180 months |
| Unit Pricing | Monthly | Two Wheeler Loan: Loan amount up to Rs 2 lakh |
| Unit Pricing | Monthly | Used Car Loan: Loan amount up to Rs 10 lakh |
| Unit Pricing | Monthly | Commercial Vehicle Loan: Tenure up to 60 months |
| Unit Pricing | Monthly | Salaried Personal Loan: Loan amount up to Rs 5 lakh |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
MAS Financial Services product offering
Product offeringCore offering
MAS Financial Services is a publicly listed Indian NBFC providing retail and wholesale credit products across the small and medium enterprises sector and rural housing loans. Its core offerings include Micro Enterprise Loans (up to Rs 50 lakh), SME Business Loans (up to Rs 1 crore), Loans Against Property (up to Rs 5 crore), Two Wheeler Loans, Used Car Loans, Commercial Vehicle Loans, Salaried Personal Loans, and Home Loans through its MRHMFL subsidiary. The company operates 205+ branches across 14 states covering 16,500+ service locations and serves over 1.3 million live loan accounts.
Product overview
MAS Financial Services offers a comprehensive range of financial services through a unified product portfolio. The company provides eight core lending products: Micro Enterprise Loan (MEL) for micro business financing up to ₹50 lakh, Business Loan for SME growth up to ₹1 crore, Loans Against Property (LAP) leveraging property equity up to ₹5 crore, Two Wheeler Loan for vehicle purchase up to ₹2 lakh, Used Car Loan up to ₹10 lakh, Commercial Vehicle Loan for business vehicle acquisition up to 60 months tenure, Salaried Personal Loan up to ₹5 lakh, and Home Loan through subsidiary MRHMFL. All products feature quick approval processes, transparent terms, flexible EMI options, and doorstep service with minimal documentation requirements.
Differentiator
Problem solved
Functional benefit
Brands
- MAS Wise Loan: Loan product/service brand mentioned on the company's website.
Products and services
- Micro Enterprise Loan (MEL) A small amount of capital to support existing micro enterprises for expansion or day-to-day operational needs, with loan amount up to Rs 50,00,000 and tenure up to 120 months. Targeted at micro enterprises seeking working capital and growth financing.
- Business Loan Boosts business operations for SMEs with loan amount up to Rs 1 crore and tenure up to 36 months. Designed for SME business operations and working capital needs.
- Loans Against Property (LAP) Secured lending leveraging the equity in property, with loan amount up to Rs 5 crore and tenure up to 180 months. Targeted at borrowers seeking long-tenure collateral-backed credit.
- Two Wheeler Loan Hassle-free two-wheeler loans for purchasing bikes or scooters, with loan amount up to Rs 2,00,000. Targeted at individual retail borrowers seeking affordable vehicle financing with quick disbursement.
- Used Car Loan Affordable financing for purchase of pre-owned cars, with loan amount up to Rs 10,00,000. Targeted at individual retail borrowers seeking affordable used vehicle financing.
- Commercial Vehicle Loan Financing for businesses to acquire commercial-use vehicles, with tenure up to 60 months. Targeted at business owners and transport operators.
- Salaried Personal Loan Unsecured personal loans for salaried individuals to meet personal financial needs, with loan amount up to Rs 5,00,000. Targeted at salaried professionals seeking quick personal credit.
- Home Loan Housing loans for purchasing homes, offered through wholly-owned subsidiary MAS Rural Housing and Mortgage Finance Limited (MRHMFL) with a rural housing focus. A potential IPO of MRHMFL is planned within five years.
Quantifiable outcome
- Q4 FY26 Net Profit: Rs 103.12 crore, up 25.04% YoY
- +6 more outcomes
Companies that use MAS Financial Services
Customer profileSegments4 records
Ideal customer profiles4 records
MAS Financial Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
MAS Financial Services partnerships and signals
Strategic signalScale indicators19 records
Recent moves7 records
Expansion highlights6 records
MAS Financial Services competitors and assessment
Company assessmentBroad incumbents
- Bajaj Finance: India's largest diversified NBFC with consumer durable, two-wheeler, and SME financing products. Highly comparable to MAS's product mix but at much greater scale and broader geographic footprint.
- L&T Finance Holdings: Diversified NBFC arm of the L&T Group focused on rural, SME, and infrastructure finance. Comparable MSME and rural lending orientation, with broader corporate finance exposure as well.
- Muthoot Finance: India's largest gold loan NBFC with growing MSME, microfinance, and housing finance subsidiaries. Comparable diversified NBFC platform and pan-India branch-led distribution model.
Direct peers
- Cholamandalam Investment and Finance: Indian NBFC focused on vehicle finance (including used cars, commercial vehicles, two-wheelers) and SME lending. Closely comparable product set and target customer segments as MAS.
- Shriram Finance: Large Indian NBFC with deep presence in used commercial vehicle financing, MSME lending, and retail credit across semi-urban and rural India. Highly comparable distribution model and customer base to MAS.
- M&M Financial Services (Mahindra Finance): Indian NBFC specializing in vehicle financing (two-wheelers, used cars, tractors, commercial vehicles) and SME lending via rural and semi-urban distribution. Direct overlap with MAS's vehicle finance and MSME products.
- Manappuram Finance: Diversified Indian NBFC with gold loans, microfinance, MSME lending, and vehicle finance. Comparable diversified SME and retail credit focus to MAS, particularly in underserved segments.
- Five-Star Business Finance: Indian NBFC focused on secured small business loans and housing finance to underserved borrowers. Closely comparable MSME and small-ticket secured lending focus to MAS.
- Spandana Sphoorty Financial: Indian microfinance institution with growing MSME lending book targeting underserved borrowers in semi-urban and rural India. Comparable mission and customer profile to MAS's microenterprise segment.
Emerging players
- Fusion Microfinance: Indian NBFC-MFI serving micro-entrepreneurs and small business borrowers, with growing MSME portfolio. Comparable underserved borrower focus and similar scale and growth profile to MAS's microenterprise lending.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
MAS Financial Services social profiles
Digital presenceMAS Financial Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
MAS Financial Services leadership team
Management profileNumber of profiles
Profiles8 records
MAS Financial Services subsidiaries and ownership
Company hierarchySubsidiaries1 record
MAS Financial Services funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MAS Financial Services M&A and investment
M&A and investmentM&A
Investments10 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MAS Financial Services
What does MAS Financial Services do?
MAS Financial Services is a publicly listed Indian NBFC providing retail and wholesale credit products across the small and medium enterprises sector and rural housing loans. Its core offerings include Micro Enterprise Loans (up to Rs 50 lakh), SME Business Loans (up to Rs 1 crore), Loans Against Property (up to Rs 5 crore), Two Wheeler Loans, Used Car Loans, Commercial Vehicle Loans, Salaried Personal Loans, and Home Loans through its MRHMFL subsidiary. The company operates 205+ branches across 14 states covering 16,500+ service locations and serves over 1.3 million live loan accounts.
Is MAS Financial Services a public or private company?
MAS Financial Services is a public company. It is classified as public and is currently operating.
When was MAS Financial Services founded?
MAS Financial Services was founded in 1995. It employs 1,001 to 5,000 people.
Where is MAS Financial Services based?
MAS Financial Services is headquartered in Ahmedabad, India, in the Asia region.
How does MAS Financial Services make money?
Seven revenue lines are on record. MSME Lending is the primary driver. The others are two-Wheeler Financing, used Car Loans, commercial Vehicle Loans, loans Against Property, salaried Personal Loans and housing Finance (MRHMFL).
Who are MAS Financial Services's main competitors?
Broad incumbents on record are Bajaj Finance, L&T Finance Holdings and Muthoot Finance. Direct peers are Cholamandalam Investment and Finance, Shriram Finance, M&M Financial Services (Mahindra Finance), Manappuram Finance, Five-Star Business Finance and Spandana Sphoorty Financial. Fusion Microfinance is listed as an emerging player.
Does MAS Financial Services have an API?
No public API is recorded for MAS Financial Services.
What industry is MAS Financial Services in?
MAS Financial Services's product category is Non-Banking Financial Services (MSME & Retail Lending). Its primary akta.pro industry code is FSAKAGAB, SME Term Loans & Growth Capital, with a secondary code of FSAKAGAA, Microloans & Working Capital Loans. Its NAICS code is 5222 and its SIC code is 6153.