Kolkata : Asset financing company Magma Fincorp Limited said Wednesday it will disburse Rs.343 crore in retail loans to the poor in Chhattisgarh in 2010-11.
“By penetrating deeper into the state, we will focus on providing asset finance to the economically disenfranchised in the state,” Anuj Kishore, regional sales manager of the company said in a statement.
The company is into commercial vehicles, tractor and construction equipment finance.
“We expect to grow our business in the state by over 80 percent in the new financial year. Our target is to sustain the high share in the state,” he said.
Magma has nine branch offices in Chhattisgarh – Raipur, Bilaspur, Ambikapur, Baikunthpur, Raigarh, Korba, Bhilai, Jagadalpur and Dhamtari.