The world today is moving at a fast pace, and equity and money are moving faster. Things are not like the olden times anymore. The concept of saving money has changed drastically. Today, people are looking for options to invest their money. With several options available, the question is, where?
Because when it comes to investing money, you cannot experiment. You need to study the market, and consider all the positive and negative outcomes. And to minimise the effort, you need a partner to give you the right solution at the right time.
Featuring in the cover story of The Business Fame’s issue on The Most Trusted Financial Consultants to Watch in 2021 is Prabhudas Lilladher, a firm that has garnered the trust of hundreds of thousands of people for providing prudent financial advice.
The firm’s origins
In 1944, Prabhudas Lilladher Sheth registered a partnership firm providing equity arbitrage and stockbroking services. Evolving from a standalone brokerage entity, today, the Prabhudas Lilladher Group is one of India’s leading and most-reputed providers of financial services, covering the entire suite of key financial services. Its biggest asset is a 76-year old legacy of expertise and adherence to the founding principles of integrity, transparency and accountability.
The firm is proud to have witnessed the evolution of the Indian capital markets. It has worked closely with regulators to streamline the policies that have led to the maturing of these markets. This includes membership of the Technology committee for the conception, design and implementation of BOLT and CDSL systems. Milestones include:
1970s
- First broking firm to provide doorstep service
- IPO Distribution and Underwriting added to the portfolio of services
1980s
- First corporate broker to be accepted as a member of the BSE
- First broker to computerise back-office operations
1990s
- Empanelled with several FIIs & DIIs
- A leader in Badla finance for the retail segment
2000s
- Corporate Advisory & Investment Banking, PMS, NBFC, Currency & Commodities Trading and Online Trading services launched
- $2 billion raised for Indian corporates during 2005-2008
- Evolved into a full-service financial services company, catering to retail investors, HNIs, and corporate & institutional clients
2010s
- Introduced Trader’s Edge Indices, an NSE-approved algorithmic trading product
- Launched PL Academy, an Education & Awareness initiative
- High-quality research acknowledged with awards from Asiamoney and Thomson Reuters
- Awarded Best Equity Research Firm (India) 2016 by Wealth & Finance International
- Chosen as one of Asia’s Most Admired Brands for 2017 and 2018
Products and services
The Capital Market business is segmented into Institutional Business, Wealth Management and Retail Business. Among the leading institutional brokers in the country, Prabhudas Lilladher serves over 150 leading domestic and international institutional investors in equity markets, with a strong global outreach. Clients include prominent Mutual Funds, Hedge Funds and Bank Treasuries in India, UK, Europe, the US, Hong Kong and Singapore.
The company provides cutting-edge Investment Banking and Corporate Advisory services to corporate clients in India and abroad. On the retail front, its portfolio includes Equity, Commodity, Currency & Derivative Trading (online and offline), Mutual Funds, InvestActive, IPOs, Real Estate, Home Loans, NRI Services, Bonds, Fixed Deposits and Alternative Investment Funds. Its Portfolio Management Services have delivered a CAGR of 25% since 2013. The fund-based business provides Margin Funding and loans (against shares, property and insurance) through its NBFC arm PLFS.
Innovation and differentiation
At the core of all business activities lies painstaking, diligent and award-winning research. All offerings and operations are supported by sound technical infrastructure. This stems from the belief that technology has not only the power to simplify transacting but also the potential to increase the penetration of financial services in our country.
Ongoing innovation, ease of doing business and customer satisfaction are the other key parameters by which Prabhudas Lilladher sets itself apart. Innovative conferences on Banking (2003) and Power Equipment (2005) led to a four-fold to five-fold appreciation in those stocks. Launched in 2013, InvestActive brings discipline and balance to investor’s portfolios. Prabhudas Lilladher was the first financial services company to adopt WhatsApp for business when it was launched in 2018.
With an eye on enhancing customer interaction, a chatbot has been introduced on the company’s website to guide customers through the multitude of products and services on offer. A quant-based digital asset management service is also in the pipeline.
“We believe in making investing and trading easier for customers. To this end, we have introduced path-breaking products such as an algorithm-based advisory Trader’s Edge, the fully-loaded PL mobile app, and paperless client onboarding,” says Joint Managing Director Amisha Vora.
Currently, Prabhudas Lilladher is pioneering Algorithmic Trading in India with a dedicated Algo Desk, providing hitherto unavailable AI & Machine Learning-based solutions to clients for trading profitably. Many other research-driven innovative products under development are expected to be the first of their kind. This initiative is part of the company’s ongoing effort to be their clients’ partner of choice in their journey of wealth-creation.
Impact of the pandemic and the road ahead
The current pandemic has thrown the finance industry into a state of disruption. But Prabhudas Lilladher views this as an opportunity to embrace the new normal and raise the bar in terms of product offering and customer experience. “Leveraging technology and going digital is the only way out. Much before the onset of this crisis, we set ourselves the task of becoming digitally-ready in all respects. This push is bearing dividends now. During the current situation, we are not only functional but also growing and able to service clients without the slightest compromise,” says Amisha.
Productisation, digitisation and diversification sum up the company’s approach. India is poised for tremendous growth in financial assets in the next ten years as per capita income rises. This is expected create many opportunities in the areas of Wealth Management, Asset Management and Funding.
Know Your Leader: Amisha Vora
An Equity expert, Amisha Vora is a Chartered Accountant with 27 years of experience in financial services. Zee Business Market Analyst Awards has honoured her with the Editor’s Choice Award for Outstanding Contribution to the Equity Markets. Recognised by Business Today as one of The 10 Powerful Women-Rising Stars, she was identified as the Best Sales Person of the Year by Asiamoney for three years running.
Other honours include membership of the CII National Committee on Capital Markets for 2015-2016 and of the Advisory Committee (SME) of the National Stock Exchange of India. Her views on investment strategies and the markets are sought by the Print media (including the New York Times) and TV channels. She can be often seen on CNBC TV 18, NDTV Profit, Zee Business, ET NOW and Bloomberg TV.
Amisha’s message for new-age entrepreneurs
“Identifying the problem is key, and that applies to all aspects of life including business. Know where your organisation stands, understand its core strengths and play on them. We all face the temptation to do multiple things. Before rushing headlong into a situation, evaluate it thoroughly, else precious organisational effort, time and resources will be wasted,” she says.
