KPMG Valuations: 20-Plus Engagements Across Industries and Geographies
Ran valuation engagements across banking, pharma, FMCG, telecom, and technology for clients in India, the Middle East, and the UK

Gurbani Makkar
Consultant at Bough Consulting



From their time as

Valuations Analyst
KPMG β’ 2022 - 2024
Overview
Gurbani spent two years at KPMG as a Valuations Analyst, working across dozens of engagements spanning banking, automobile, FMCG, steel, telecom, pharmaceuticals, and technology. Clients came from India, Saudi Arabia, the UAE, and the UK.
The Story
Gurbani spent two years at KPMG as a Valuations Analyst, working across dozens of engagements spanning banking, automobile, FMCG, steel, telecom, pharmaceuticals, and technology. Clients came from India, Saudi Arabia, the UAE, and the UK.
Her work covered the full range of valuation methodologies: business valuations, M&A benchmarking, IFRS impairment testing, purchase price allocations, and PE transactions. Each engagement required her to understand a new industry quickly, identify the right comparable set, and translate financial and qualitative data into a defensible output.
A recurring challenge was comparability. Many of the companies she valued were smaller or more specialized than anything available in public markets, which meant standard benchmarking approaches had to be supplemented with qualitative research: analyst reports, annual reports, and news coverage that she would quantify and incorporate into the model.
Across two years, she built fluency in reading businesses across sectors and geographies, and developed a consistent approach to structuring analysis when the data was incomplete or the market was poorly mapped.
