What NHBS does

NHBS LLP (New Haribhakti Business Services LLP) is an India-based business consulting and verification firm headquartered in Mumbai, founded in 2013. The company provides independent verification, due diligence, fixed asset management, and shared/outsourced finance services to banks, non-banking financial companies (NBFCs), asset reconstruction companies, large corporates, and retail/FMCG enterprises. Core service lines include stocktaking and physical inventory verification (delivered through its wholly-owned subsidiary V2IPL), diligence services for lenders (financial and non-financial due diligence, drawing power assessment, techno-economic viability studies, forensic audits, special monitoring, and early warning signals), fixed asset lifecycle management, finance process outsourcing (procure-to-pay, order-to-cash, record-to-report, payroll, MIS), DMCC free-zone business setup advisory for Indian entities expanding to the UAE, and franchising advisory. Select clients include Yes Bank, Ratnakar Bank, a public sector bank managing Rs. 250+ cr disbursements, Max Hypermarkets (SPAR), Staples, and BIBA.

The company operates a field-services model with 350+ core professionals (Chartered Accountants, MBAs, graduates), an advisory forum of 19 ex-bankers, and over 1,000 liquid force resources enabling delivery across 24 states and 306 cities in India. Technology includes proprietary RFID-based asset tagging, hand-held terminal (HHT) scanners, an IT-enabled software platform for report and data management, and the Early Warning Signals (EWS) tool for credit risk identification. The firm executes over 24,000 annual verification, due diligence, and credit monitoring assignments and has scanned over 450 million items cumulatively.

NHBS generates revenue through project-based professional services fees tied to verification assignments, diligence engagements, and shared services contracts. Distribution is primarily direct enterprise sales targeting relationship managers at financial institutions and large corporate finance teams, supplemented by referral-based international business setup through the DMCC partnership. The company expanded internationally with NHBS LLP Global DMCC (founded 2017, based in Dubai) and operates additional offices in New Delhi, Chennai, and Bangalore. Empanelment with the Indian Banking Association and appointment as Special Monitoring Agency for select banks constitute key regulatory credentials for lender-facing work. A claimed 100% client retention rate and 75+ eminent client base underscore relationship-led revenue mechanics.

Name

NHBS

Legal name

NHBS LLP

Website

https://www.nhbsgroup.com/index.html

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

501–1,000 employees

Short description

NHBS is a business consulting company that provides verification, diligence, accounting, and process improvement services to clients.

Ownership category

akta.pro rank

Product category

Business Verification & Due Diligence Services

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121), Office Administrative Services (5611)

akta.pro primary industry

Contractor Payroll, Invoicing & Payment Services (BPACAGAD)

Keywords

• Verification services
• Due diligence
• Fixed asset management
• Business consulting
• Inventory auditing

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Verification Services: Physical stock counts, fixed asset management, SOP audits, inventory verification services delivered across retail, supply chain, manufacturing, telecom, IT/ITES, BFSI sectors. Revenue generated through project-based professional fees.
2. Diligence Services: Due diligence, drawing power assessment, private equities and inspection services for banks and lending institutions. Includes financial & non-financial due diligence, monitoring, portfolio management.
3. Shared Services: Finance process outsourcing, process and system review, payroll generation for SMEs and large corporates. Services include Procure to Pay, Order to Cash, Record to Report, MIS preparations.
4. Banking Large Corporate Services: Due diligence, TEV Study, investigative audit services for financial institutions, banks, ARCs, and investors. Includes forensic audit, fund raising, restructuring advisory.
5. International Service Agent - DMCC: Assisting Indian entities to set up businesses in UAE's DMCC free zone. Services include business setup, visa assistance, bank account opening, and business contacts expansion.
6. Franchising Services: Connecting brands with resources to create franchise opportunities. Facilitates entrepreneurial dreams through proven business formulas and system operations.
7. Fixed Asset Management: Complete fixed asset lifecycle management from procurement to retirement including asset tagging, data digitization, regular verification, compliance assistance, and process improvements.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

NHBS LLP is a Mumbai-based business consulting firm that provides verification, due diligence, and shared services to banks, NBFCs, retail chains, and large corporates across India. The firm leverages proprietary technology tools such as RFID and handheld terminals (HHT) for inventory verification, fixed asset management, and financial process outsourcing. It also operates an international service agent desk in Dubai (DMCC) for cross-border client support.

Product overview

NHBS LLP is a business consultancy organization offering a portfolio of verification, assurance, and shared services. The core offerings include Verification Services (Stocktaking) via V2IPL subsidiary, Diligence Services, Shared Services, Banking Large Corporate services, International Service Agent (DMCC), Franchising, and Fixed Asset Management. NHBS LLP Global DMCC provides consulting services including market research and transaction advisory. The company operates with a pan-India presence in 24 states and 306 cities, with additional operations in Dubai serving the Middle East market.

Differentiator

Problem solved

Functional benefit

Products and services

• Verification Service
• Due Diligence Service
• Banking Large Corporate Service
• Fixed Asset Management
• Shared Services / Business Process Outsourcing
• International Service Agent (DMCC)
• Franchising Service

Quantifiable outcome

• Executed 24,000+ assignments annually for verification, due diligence & credit monitoring
• +6 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Dubai Multi Commodities Centre (DMCC)coreStrategic or Co-development PartnerNHBS LLP has successfully tied up with UAE's Premium Free Zone, DMCC as their International Service Agents. This partnership assists Indian entities & individuals to set up 100% owned businesses in UAE's premium Free Zone. Services include hassle-free setup, business contacts, visa assistance, and bank account opening.
• Carrera Salon & WellnessminorGTM or Marketing PartnerFranchise partnership for salon and wellness brand expansion through franchisee network across India.
• Javed HabibminorGTM or Marketing PartnerFranchise partnership for hair salon brand expansion across India.
• US PizzaminorGTM or Marketing PartnerFranchise partnership for pizza restaurant brand expansion in metro, Tier 2 and Tier 3 cities.
• Virtuso Verifica (I) Pvt Ltd (V2IPL)coreStrategic or Co-development PartnerFully owned and controlled subsidiary of NHBS LLP that evolved to extend work in inventory management with analytics, root cause analysis, process assurance audits, and fixed asset management. Commenced operations from April 2017.
• BhaukichaiminorGTM or Marketing PartnerFranchise partnership for brand sales across India.
• KamatminorGTM or Marketing PartnerFranchise partnership for hospitality/food brand expansion.
• GizmoswalaminorGTM or Marketing PartnerFranchise partnership for technology/gadgets brand expansion.
• Turtle PuddleminorGTM or Marketing PartnerFranchise partnership for retail brand expansion.
• EggiterianminorGTM or Marketing PartnerFranchise partnership for food brand expansion.
• CarreraminorGTM or Marketing PartnerLicense partnership from sales to realization for brand operations.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Grant Thornton India (GT Bharat): Mid-tier professional services firm offering due diligence, forensic audit, transaction advisory, and TEV studies to banks, NBFCs, and corporates in India — directly comparable to NHBS's diligence and banking large-corporate practice.
• BDO India: Mid-tier advisory firm providing due diligence, accounting, tax, and shared services to Indian BFSI and corporate clients; competes with NHBS in diligence and finance process outsourcing.
• Acuity Knowledge Partners: Outsourced research and due diligence provider to PE, VC, and banking clients globally; competes with NHBS on bank- and PE-facing diligence support and back-office finance work.
• WNS Holdings: BPM firm providing finance & accounting, accounting research, and diligence support to global banks and lenders — comparable to NHBS's Shared Services and diligence offerings, scaled across geographies.
• RBSA Advisors: Indian investment banking and valuation advisory firm offering due diligence, TEV studies, and restructuring advisory — directly comparable to NHBS's banking large corporate services.
• Saffron Capital: Mid-tier Indian investment bank and due diligence provider to banks, NBFCs, and corporates — overlapping with NHBS's diligence and banking large-corporate practice.

Broad incumbents

• Genpact: Large global BPM firm providing finance & accounting, shared services, and risk consulting; a scaled incumbent competing with NHBS for shared services and larger diligence/process outsourcing mandates.
• Deloitte India: Big 4 firm offering due diligence, forensic audit, TEV studies, and risk advisory to Indian banks and corporates — broader portfolio but directly competes for the same banking mandates.
• EY India (Ernst & Young): Big 4 firm offering transaction due diligence, forensic investigation, and assurance services to Indian BFSI clients — a high-end incumbent competing against NHBS's diligence practice.
• KPMG India: Big 4 firm providing due diligence, forensic audit, and deal advisory in India — competing with NHBS for banking and large-corporate diligence mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NHBS