NEWS & ADVICE : CAR LOANS
Manappuram General aiming at massive expansion
By Vaibhav Aggarwal
Sep 21, 2010
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One of the biggest players in the gold loan business, Manappuram General Leasing and Finance has plans to open 300 retail lending outlets in central and western parts of the country by the end of this fiscal.

The retail outlet count of the company currently figures to 1,300 which it has aims to increase to 1600 by the end of this financial year. The company has already added 300 new stores in the country in the past six months.

Around 90% of the total business of the company comes from the four southern states namely Kerala, Andhra Pradesh, Karnataka and Tamil Nadu.

But now the company wants to widen its base pan India and achieve a lending target of Rs 7000 crore by the end of this fiscal.

The company currently has presence in 16 Indian states with West Bengal, Orissa, Punjab, Maharashtra recently added.


 


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