Our Story

How it all began...

It is a story of two individuals who have just one goal – to do good to the society.
One is Sri. Sridhar Neelkant Rao and the other is Sri. Sanjeev K.Mahajan.
Sridhar is an engineer by qualification and has had a chequered career in the construction sector, while Sanjeev was in a safe job with Defence Accounts. Both quit their respective jobs as their calling was something different.
They joined hands with 13 other like-minded professionals (directors) and on
December 10, 2010 registered Gnanashale Souharda Co-operative Ltd., under the Souharda Co-operative Act, 1997. Gnanashale started in a 10’ X 10’ room in the basement of the present building on Sanjaynagar Main Road, on a monthly rent of
Rs. 5,000. It began with 1,000 shareholders and a share capital of Rs. 10 lakhs. From there, the Co-operative Society has not looked back, thanks to the selfless efforts of the founders and other directors.

Sridhar Neelkant Rao

President

Shashi N

Vice President

Encouraging growth

Gnanashale has grown phenomenally in these nine years with a present turnover of
Rs. 115 crores. Today, Gnanashale has eleven branches in Karnataka and continues to expand. After demonetization, our transactions are now 95% digitalized.

Dividend growth

From 2% dividend in the first year, it now gives 16% dividend.
The goal is to touch the 25% dividend ceiling.

Assets

Milestones

  • 2010
    Started in a rented premise.
  • 2011
    First 1000 members with Rs. 10.25 lakh capital
  • 2014
    Purchased the rented building in Sanjayanagar as
    Head Office worth Rs. 5 crore
  • 2016
    Achieved Rs. 50 crores turnover with 4 branches
  • 2018
    Owned branch office building in Sahakarnagar
    worth Rs. 5 crore
  • 2022
    Achieved Rs. 125 crores turnover with 11 branches
  • 2022
    Crossed 15000 Members
  • 2022
    Our Profit reserves are Rs.1.06Cr as of 2022 – this is Shareholder’s money
* Our assets are Shareholder assets
*20% of our deposits goes to our investments as FDs in banks

Reserves

One of the highpoints of Gnanashale is its ‘RESERVES’. It has religiously maintained
20% of its deposits as ‘Reserves’ which is a healthy indicator of the performance of the Co-operative Society.

Call Us

For assistance, call +91 80 4212 4421 or +91 974 248 1256
Monday to Friday: 9:30 AM to 5:30 PM
Saturday: 9:30 AM to 1:30 PM

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write to us and we will get back to you

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