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Targeting a 20 per cent growth in this fiscal from Kerala, the Kolkatta based Magma Fincorp Limited is focussing on tractor finance, housing finance and Suvidha (used vehicle Loans) to deliver the numbers.
According to Dhrubashish Bhattacharya, Vice President, Magma Fincorp, the company’s focus on tractor finance has been the mainstay in the State and its renewed focus on the rural and semi rural markets will come handy.
Over the past months, the company has been able to build a strong team to deliver the numbers in tractor and affordable housing and expect to grow at over 20 per cent in each of the products, he said.
Magma recorded ₹168 crore disbursements in Kerala in the second quarter of FY 17 and has 12 branches across the State.
Referring to national market, he said Magma has a dedicated base of around 5 lakh active customers and manages a loan book of ₹17796 crore. The company has 257 branches in 22 states and employs around 8980 people.
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