“Corporate success is only meaningful when it transcends profit margins and positively impacts society, intertwining business strategy with community upliftment,” says V.P. Nandakumar, MD & CEO, Manappuram Finance Ltd
As the world grows increasingly interconnected, businesses are recognizing their role in driving social change. The notion of social responsibility of organizations has transcended from being a mere buzzword to a critical component of modern business strategy. V.P. Nandakumar, the Managing Director and CEO of Manappuram Finance Limited, exemplifies this ethos by embedding corporate social responsibility (CSR) into the core values of the company. Renowned for his strategic vision and business acumen, Mr. Nandakumar’s unwavering commitment to community welfare stands as a testament to his holistic approach to leadership. Under his stewardship, Manappuram Finance has launched numerous impactful programs aimed at enhancing community welfare and fostering rural development, focusing on areas like education, healthcare, and infrastructure.
Commenting on their initiatives, V.P. Nandakumar says, “At Manappuram Finance, we believe that our responsibility extends far beyond the confines of our business operations. Our community welfare initiatives are driven by a fundamental commitment to making a positive impact on the communities we serve and the environment we share. Our goal is to lead by example, demonstrating that responsible business practices are not just a moral obligation but a powerful catalyst for growth and resilience in today’s dynamic landscape.”
Embedding CSR into Manappuram’s DNA
Manappuram Finance Limited has emerged as a leading contributor to Corporate Social Responsibility (CSR) initiatives in Kerala for the fiscal year 2023-24, committing ₹44.46 Crore, including ongoing projects, to strengthen the socio-economic landscape of the state. This significant investment is focused on advancing quality education, healthcare, preventive healthcare, and the development of rural communities within Kerala and beyond.
In the education sector, Manappuram Finance has prioritized the expansion and technological enhancement of institutions such as Mageet Public School, Mukundapuram Public School, Macampus, Ma Academy, MAIAM, and MASKILL. The company also provides substantial financial assistance to local schools and underprivileged students, ensuring that quality education is accessible to all. In healthcare, Manappuram Finance has made notable strides by supporting facilities like Mahima, Mafit, Mayoga, ambulance services, and Macare. These efforts have significantly improved the availability and quality of healthcare services for the community.
V.P. Nandakumar believes in the transformative power of CSR, seeing it as integral to the company’s identity. “Corporate social responsibility must be woven into the fabric of our business strategy, driving both our decisions and community engagements; it transcends philanthropy, becoming a strategic imperative,” asserts V.P. Nandakumar. By embedding social responsibility into the company’s core values, Nandakumar has cultivated a culture of giving back that permeates every level of the organization. This approach not only enhances community welfare but also reinforces the company’s commitment to sustainable and inclusive growth.
Empowering Communities Through Comprehensive Social Initiatives
Manappuram Foundation has made substantial strides in its Corporate Social Responsibility (CSR) efforts, reflecting a deep commitment to social welfare and community development. To give an example, the foundation has provided ₹15 lakh in financial assistance to SN Trust, Mumbai. This support is directed toward enhancing education, vocational training, skill development, entrepreneurship, healthcare, cultural activities, sports, and other humanitarian efforts, particularly benefiting the economically disadvantaged and vulnerable sections of society. Education is a cornerstone of Manappuram’s CSR efforts, reflecting V.P. Nandakumar’s belief in its power to change lives. The company has established scholarships and support programs to help underprivileged students access quality education. “Investing in education is investing in the future of our nation,” states Mr. Nandakumar. Recognizing the critical role of infrastructure in education, Manappuram has undertaken the construction of schools in rural areas.
The foundation also offers ongoing monthly support to the APJ Abdul Kalam International Residential Tribal School, Attappadi. Kerala, which is dedicated to providing academic education while instilling values of self-sufficiency, humanity, social responsibility, and sustainability in tribal children. In a significant infrastructure project, the Manappuram Foundation modernized the Thirupazhanchery Laksham Veedu Colony by constructing 13 new houses and renovating 3 others, transforming the area into a fully equipped community with modern amenities. The project was completed at a cost of ₹1.25 crore.
In response to the COVID-19 pandemic, the foundation contributed ₹10 lakh to the ‘Together for Thrissur’ initiative, led by Thrissur District Collector Krishna Teja IAS, which provides financial assistance to children who lost one or both parents due to the pandemic. Furthering its support for education and well-being, the Manappuram Foundation donated 50 beds to the Tribal Girls Hostel in Chalakudy, significantly improving living conditions and educational support for tribal girls.
Additionally, the foundation donated ₹11 lakh to the Dream Runners Foundation, aiding differently-abled individuals by providing artificial limbs and assisting women burn survivors in their recovery from violence. Manappuram Foundation consistently supports underprivileged children in the coastal areas of Thrissur District by distributing 2,200 school kits, valued at ₹25 lakh ensuring that these children have the necessary resources for their education.
Commenting on these initiatives, V.P. Nandakumar, stated, “Our CSR efforts are rooted in the belief that a prosperous community is the foundation of a thriving society. We are committed to making a tangible difference in the lives of the underprivileged and supporting initiatives that foster long-term social and economic development.” He further added, “Through our sustained efforts in education, healthcare, and social welfare, we aim to uplift communities, instill hope, and build a better future for all.” These and the hundreds of other initiatives underscore the Manappuram Foundation’s comprehensive approach to CSR, focusing on education, healthcare, social welfare, and support for the underprivileged, making a lasting impact on the communities it serves.
Manappuram Foundation’s dedication to Corporate Social Responsibility (CSR) is evident through its unwavering support for people with disabilities and those who are differently abled. On December 15, 2023, the foundation contributed ₹3 lakh to the Wonder World Project by Santhome Special School in Kodungallur, an institute focused on empowering and educating differently abled individuals. Continuing this commitment, on October 20, 2023, the foundation provided uniforms and sports equipment to the differently abled children of Faith India School in Palakkad, promoting their inclusion in both educational and extracurricular activities.
As part of Manappuram Home Finance’s CSR funds, the foundation annually supports the Kerala University of Fisheries and Ocean Studies by offering scholarships to 20 students from the fishermen community, amounting to ₹4 lakh. Additionally, the Manappuram Foundation provides financial assistance to terminally ill patients in the Thrissur District, helping them purchase essential medicines and necessities.
In a significant initiative to enhance mobility and independence for differently abled individuals, the foundation donated 100 electric wheelchairs through the “Sahayathraku Snehasparshamayi” initiative on two separate occasions. This project, with a total cost of ₹1.25 crore, has profoundly impacted the lives of the beneficiaries, allowing them greater freedom and reintegration into their communities. Extending this initiative further, the foundation made a significant contribution to individuals with muscular dystrophy by donating 50 electric wheelchairs, again through the “Sahayathraku Snehasparshamayi” program, giving these individuals the chance to regain mobility and lead more independent lives. The foundation also addressed the nutritional needs of the differently abled community by distributing 400 food kits, ensuring they receive the essential support they need. As part of Maben Nidhi Ltd.’s CSR initiative, the Manappuram Foundation donated 3 dialysis machines worth ₹21.5 lakh to Jubilee Mission Hospital in Thrissur, improving access to life-saving treatment.
Moreover, Manappuram Foundation has partnered with leading NGOs to build around 100 homes for the homeless, support childhood cancer initiatives, organize artificial limb camps, and donate additional dialysis machines, making a significant impact on numerous lives across the community.
Commenting on these initiatives, V.P. Nandakumar mentioned, “Our commitment to CSR is not just about giving back; it’s about creating lasting change and improving the quality of life for the most vulnerable in our society. By supporting differently abled individuals and addressing their unique needs, we aim to empower them to lead more independent and fulfilling lives.”
He further added, “The impact of initiatives like ‘Sahayathraku Snehasparshamayi’ goes beyond mobility; it is about restoring dignity, hope, and the ability to dream again. We are proud to be a part of this journey and will continue to support those in need with compassion and dedication.”
Future Directions and Continued Commitment
V.P. Nandakumar’s leadership has transformed Manappuram Finance into a beacon of corporate social responsibility. His strategic vision and unwavering commitment to community welfare have established a legacy of positive social impact. Looking ahead, Mr. Nandakumar envisions an even greater role for CSR in Manappuram’s operations. He is committed to expanding the scope of the company’s social initiatives and exploring new areas where they can make a difference. “The journey of Community Welfare is ongoing; it evolves with the changing needs of society and the growing capabilities of our organization,” remarks V.P. Nandakumar.
In summary, V.P. Nandakumar’s approach to integrating CSR into Manappuram Finance’s core values serves as a powerful example of how businesses can drive social change. “Our true measure of success lies in the lives we touch and the communities we uplift,” concludes Mr. Nandakumar. Through his unwavering commitment to social welfare, the company is not only building a strong reputation but also creating a lasting positive impact on the communities it serves.
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