Parminder Chopra: First woman to become CMD of PFC
Parminder Chopra has been recommended by the Public Enterprise Selection Board (PESB) to become the next Chairman and Managing Director (CMD) of Power Finance Corporation (PFC), India’s largest Non-Banking Financial Company (NBFC) by net worth. If appointed, she will be the first woman to hold the position.
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About Parminder Chopra
- Parminder Chopra has been working with PFC since 2005 and has been serving as Director (Finance) and CFO since 2020.
- She is also a member of the board of directors.
- Parminder Chopra has more than 35 years of experience in the power sector, having worked with organizations such as the National Hydroelectric Power Corporation of India (NHPC) and the Power Grid Corporation of India (PGCIL).
- She holds a Bachelor’s degree in Commerce, and she is a qualified Cost Accountant and MBA.
Parminder Chopra’s Role and Significance for PFC
- Parminder Chopra has been appointed as the new CMD of PFC, where she will oversee strategic initiatives and drive growth to solidify the company’s position as a leading Maharatna PSU.
- With her extensive experience in project financing and infrastructure development and visionary leadership, PFC is expected to reach new heights of success.
- Parminder Chopra’s appointment as CMD is a significant milestone for women professionals in the country, inspiring emerging leaders and breaking down gender barriers in corporate leadership.
- This move highlights the recognition of women’s capabilities and their crucial role in leadership positions, promoting inclusivity in the corporate world.
Power Finance Corporation (PFC)’s recent Performance
In the third quarter of the financial year 2022-23, PFC experienced a 7% year-on-year growth in its consolidated net profit, which reached ₹5,241.10 crore. The company’s total income also increased to ₹19,662.65 crore during the quarter, up from ₹19,213.69 crore in the same period the previous year.
Additionally, PFC’s consolidated loan asset book surpassed ₹8 lakh crore, reaching ₹8,04,526 crore as of December 31, 2022. In the first nine months of FY23, consolidated disbursements exceeded the ₹1 lakh crore mark, totaling ₹1,06,875 crore, and experienced a 28% year-on-year growth.
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