Magma Fincorp is reportedly aiming to garner 15% growth in Uttar Pradesh (UP) in FY17. In this regard, the company will focus on tractor finance, housing finance and used vehicle loans. During Q1FY17, Kolkata-based Non-Banking Financial Company (NBFC) has clocked Rs 211 crore disbursements in UP.
The company enjoys deep presence and strong customer relationship in the state. It has 31 branches across UP in all the major towns and employs 970 people in the state.
Magma Fincorp is a non-deposit taking NBFC registered with the Reserve Bank of India (RBI) as an asset finance company. It started operations two decades back and is now listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
