Magma Fincorp is reportedly focussing on tractor finance, housing finance and Suvidha (used vehicle Loans), to achieve 20% growth from Kerala in FY17. Over the past months, the company has been able to build a strong team to deliver the numbers in tractor and affordable housing. The company recorded Rs 168 crore disbursements in Kerala in the second quarter of FY 17 and has 12 branches across 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).
