Margadarsi, a financial institution that offers chit fund services in the South, celebrated its 60th anniversary on Friday. Founded by Cherukuri Ramoji Rao in 1962, the company has a network of 108 branches in Telangana, Andhra Pradesh, Tamil Nadu and Karnataka.

“Margadarsi started with just two employees in a modest office in Himayatnagar (Hyderabad) in 1962. It now employs about 4,300 people, with an aggregate subscriber base of over 60 lakh subscribers,” said Sailaja Kiron, Managing Director of Margadarsi Chit Fund Private Limited.

An arm of the Ramoji Group, the chit fund company clocked a turnover of over ₹11,000 crore.

“Margadarsi stands for values that include financial discipline, professional integrity, ethical code of conduct and trustworthiness. We are fully committed to safeguarding each of our subscriber’s trust and ensuring a delightful experience,” Kiron said in a statement on Friday.