Magma Fincorp is planning to disburse Rs 6,000 crore in FY18 in the asset finance business category. The company’s disbursal in FY17 was Rs 4,700 crore in the asset finance category.
Moreover, the company currently has 300 branches spread across the country and is planning to open 30 more branches in the current fiscal in Gujarat.
The gross non-performing asset (NPA) of the company improved to 6.7 per cent in March 2017 from 8.1 per cent in March 2016.