Magma Fincorp Ltd. provides a range of financial products, including financing of utility vehicles, cars, commercial vehicles, construction equipments and tractors, as well as SME loans. Magma has a dedicated base of over 2.7 lakh customers and has assets worth INR 11,860 crores under management. It has 199 branches in 20 States and one Union Territory, and employs over 5,500 people.
The company provides financial products and services to individual and corporate customers. Its fund-based product portfolio provides finance for commercial vehicles, cars and multi-utility vehicles, construction equipment, tractors, SME loan and distribution of insurance. These services offer cross-sell opportunities, address customer needs, and help position the company as a one-stop shop in retail financing.
With service excellence in retail financing to bring prosperity to its customers, Magma aims to become one of India’s largest retail financing companies, with its focus on first-time buyers (FTBs) and first-time users (FTUs).
Mr. Mayank Poddar is the Chairman, and Mr. Sanjay Chamria, Vice Chairman and Managing Director of the company.