Shriram equipment finance unveils construction equipment finance schemes
Shriram Equipment Finance Giving A Fillip to Its PresenceShriram Equipment Finance, one of the leading CE financiers in the country, launched a lot of innovative schemes during Excon 2013, and interacted with existing and prospective customers. Mr. Pratap Paode, the company's CEO, informed, "In today's times, it's imperative to keep yourself visible in the market. And we have been doing that quite concertedly over the past few months. We have done a lot of pre-Excon meetings with customers in 18 states. Presently, we have 150 branches across the country, and very soon this figure will shoot up to 175. Our objective is to be with the customers, understand their financial requirements, and tailor our products accordingly. In fact, we even help them to expand their business. A telling example of this is that we go and collect money from borrowers rather than asking them to come to us. No wonder, our clientele stands at an impressive 20,000 in short span of just 3 years."
He continued, "In the near future, Shriram plans to double its portfolio. Currently, our asset management stands at Rs.3,400 crore and we are aiming at Rs.6,500 crore in next 18 months. Moreover, we are pretty strong when it comes to recovery owing to 550+ collection centres acros country and no customer being outside 50Km radius from our respective branches. Commenting on the economic stupor, he expressed, "The clearings by the Cabinet Committee augur well for the industry. But it depends on actual execution. A lot of hurdles such as financial closures, land acquisition, and banks closure need to be dealt with. Inflation is another rising concern. I believe that post September – October 2014, the industry will start recovering at its usual growth rate of 20% YoY."
NBM&CW January 2014