Magma

Magma
Mr. Sumit Mukherjee,
Senior Vice President, Magma Fincorp Limited
Magma Fincorp Limited ("Magma") is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The Company, having started operations over two decades back, is listed on the Bombay Stock Exchange and the National Stock Exchange in India and provides a bouquet of financial products including financing of utility vehicles & cars, commercial vehicles, construction equipment, tractors and SME loans. With a dedicated base of around 2.6 lac customers and assets of `11,378 crores under management, the company has 190 branches in 20 states and 1 in union territory and employs over 5000 people.

Talking about Magma’s different financing solutions for CE industry, Mr. Sumit Mukherjee said we have special schemes and tie – ups with all major manufacturers which enable us to provide the most lucrative schemes and options to our customers. We have regularly been devising new schemes and products for our customers. We also provide customized financial solutions according to our customer’s requirements. We are at a stage and on tracks of expansion. We have had a very long association with Equipment financing trade and have also moved into various other sectors such as SME, Suvidha (Refinance) & Tractor.

For company’s participation in Excon, Mr. Mukherjee said that Excon is South east asia’s largest trade fair on Construction Equipment & Construction Technology which will showcase the latest advancements in construction engineering with specific emphasis on efficiency, productivity, safety, environment protection and construction quality. Alongside also this is a platform where over 30,000 new and existing customers reach from all regions of the country. This platform will help us in interacting and informing a huge chunk of customers about our other products. It will be a good cross sell opportunity as most of our customers are potential clients for our other products.

Magma started operation in 1989 and entered into the equipment financing trade in 1996. We provide financial products to individuals, SME’s & corporate. We have structured lending program with well- defined customer selection criteria. This helps us to offer packages according to customer size. Countrywide presence with 190 offices, we are able to cater to all market segments. It has helped us with superior customer support & wider reach. Our bouquet of offerings include funding of new assets, Refinance against old equipment to meet short-term capital requirements and Letter of credit for customized / imported equipment.

NBMCW November 2011

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