Manappuram Finance (MFL), the Kerala-based leading non banking finance company engaged in the gold loan business is expecting its gold loan disbursements to grow 50-60 percent in the current financial year. The finance company is expecting disbursement to grow in the current financial year to about Rs 30,000 crore compared to Rs 18,000 crore last year.
The finance company has also opened its new corporate office in Mumbai, located at Aiswarya Business Plaza, in Kalina. The new corporate office will be the annexe of the headquarters of the company located at Valapad in Kerala. Maharashtra governor K Sankara-narayanan inaugurated the new office on August 20.
MFL has about 13 percent of the market share of the total gold loans of Rs 70,000 crore disbursed by all banks, financial institutions and NBFC’s at the national level. At present, the company has the gold holding of 62 tonnes with a loan book of Rs 10,000 crore. It has 2,416 branches across the country.
Company Name | CMP |
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Bajaj Finance | 6836.60 |
Shriram Finance | 2871.75 |
Aditya Birla Capital | 186.20 |
SBI Cards AndPayment | 687.35 |
Mah & Mah Finl. Serv | 266.40 |
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