Shriram Transport Finance Company’s (STFCL) subsidiary - Shriram Automall India is in process of setting up 11 auto malls in Andhra Pradesh by the end of this fiscal. These auto malls are large-format sales outlets, where the company would offer transaction infrastructure for buying and selling of commercial vehicles initially and construction equipment later.
For setting up each auto malls the company would require 10 acres of land which would be taken on lease. These are part of the company's plan to open a chain of 60 such malls across the country, of which the first two are functional in Chennai and Vadodara, and two more will be opened before July 31 in New Delhi and Mumbai.
STFCL derives 20 percent of its business from Andhra Pradesh and these auto malls would help STFCL in financing used commercial vehicles also.
For the year ended March 31, 2011, the company’s net profit has increased 41% to Rs 1229.88 crore as compared to Rs 873.12 crore for the year ended March 31, 2010. Its total income has increased from Rs 4495.89 crore for the year ended March 31, 2010 to Rs 5429.65 crore for the year ended March 31, 2011.
Shriram Transport Finance Company is the largest player in commercial vehicle finance. It lends finance for pre-owned trucks to new trucks.
Company Name | CMP |
---|---|
Bajaj Finance | 6873.50 |
Shriram Finance | 2883.55 |
Aditya Birla Capital | 187.05 |
SBI Cards AndPayment | 693.05 |
Mah & Mah Finl. Serv | 266.50 |
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