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Kolkata-based NBFC Magma Fincorp plans to grow its business in Maharashtra by 25 per cent during the current fiscal.
The company had disbursed Rs 400 crore in the State against Rs 8,400 crore in the country during last fiscal, and grew 33 per cent overall in the first quarter of FY15, Sanjiv Jha, V-P and national sales manager of Magma’s used assets group, said.
“We will bank on car loans, tractor loans and loans for used assets to drive numbers up by 25 per cent in Maharashtra,” Jha said.
Magma has 275 branches in 22 states across the country except in the North East and in J&K, with most of its network in rural and semi-urban areas.
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