Online edition of India's National Newspaper
Saturday, Apr 28, 2007
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Online edition of India's National Newspaper Saturday, Apr 28, 2007 ePaper |
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Special Correspondent
KOCHI: The three-decade-old Chennai-based Shriram City Union Finance plans to double the financing of two-wheeler and other automotive purchases in Kerala during the current fiscal, said Subhasri Shriram, executive director of the firm. The deposit accepting and asset financing NBFC had financed purchase of 40,000 vehicles in Kerala so far and hoped to double the figure of Rs.114 crore in the previous fiscal. The financing company is all set to diversify into segments such as financing used two-wheeler and three-wheeler purchases, passenger cars, enterprise financing and helping small traders and businessmen, Ms. Subhasri said. The company has its regional office in Kochi and offices at 19 locations in Kerala. Thirty per cent of the equity in the Shriram City is by foreign investors, including Merrill Lynch. Last year, the turnover was Rs.1,800 crore, which is expected to go up to Rs.3000 crore this year.
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