The Hindu Business Line : Shriram Transport Finance to tap growing opportunities

Shriram Transport Finance Company Ltd (STFC), the flagship company of the Shriram Group, plans to increase assets under management to Rs 15,000 crore in the next three years from Rs 7,500 crore currently to tap the growing opportunities in the sector.

STFC, a leading player in the NBFC segment and India's largest truck financing company, formally launched its effort to reach the truck owner community in Hyderabad, with film star Dharmendra, the recently appointed brand ambassador.

A series of similar events are planned in Lucknow, Mumbai and Kolkata in the coming months.

Mr R. Thyagarajan, Group Chairman, and Mr R. Sridhar, Managing Director of STFC, told newspersons that in order to provide value-added services to truck owners, the company is planning to introduce innovative products such as finance for reconditioned trucks, truck exchange programmes, tyre finance, working capital and engine replacement finance.

Other unique schemes include free mobile phones, credit cards for truck owners and loyalty reward programmes.

"To retain our leadership position in the NBFC segment, we have charted our ambitious growth plan for the current year, which will be supported by a media blitz comprising advertisements, innovative schemes and events spread over the next six months."

With a joint venture agreement with Sanlam Life Insurance in May 2005, the Group has also forayed into the Indian life insurance sector using its network of over 600 branches spread over urban as well as semi-urban and rural areas and an experienced sales force of over 65,000 agents.