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Future Capital Holdings, the financial arm of the Future Group, said it will be launching 100 ‘financial superstores' this fiscal to sell its own financial products (vehicle, property and SME loans, insurance and other investment products.)
These company plans to disburse Rs 1,000 crore of secured loans and service one lakh customers through these superstores in fiscal 2012, said a news release.
The company's overall loan book target, including disbursals from these stores, is Rs 5,000 crore for the fiscal, said Mr V. Vaidyanathan, Vice-Chairman and Managing Director, Future Capital.
Apart from offering the group's loan products, financial planning services too will be offered at the superstores. For this purpose, Future Capital has plans to tie up with the Future group's retail chain stores such as Big Bazaar, Ezone and Hometown.
These stores will also provide wealth management, equity broking solutions as well as ATM facilities, said the release. Each of these stores would range in size from 150-350 sq.ft.
Three such stores were already in their final stages and were located in Thane, Vashi and Kalyan, said Mr Vaidyanathan, at a news conference.
As of December 2010, Future Capital Holdings' net worth was Rs 754 crore.
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