Magma Fincorp Limited (formerly Magma Leasing Limited) was incorporated in 1988 and commenced operations in 1989 in Kolkata. To strengthen its business, the company merged with ARM Group Enterprises in 1992 and acquired Consortium Finance Limited, a north based NBFC in 2000.
In early 2007, Magma acquired Shrachi Infrastructure Finance Ltd. (SIFL), a non-banking retail financing company having network in West and South India. The combined entity was renamed Magma Shrachi Finance Ltd.
On August 2008, the company was rechristened as Magma Fincorp.
We are headquartered in Kolkata (India), and registered with the Reserve Bank of India as an asset financing NBFC. Magma is listed on National Stock Exchange and Bombay Stock Exchange.
Magma today has a pan India presence with over 185 locations in 21 states and represented by a qualified team of over 5050 Magmaites. Over 70% of our branches are located in semi urban and rural areas and about 60% of our customers are from the hinterlands. The deep rural and semi urban presence further emphasises Magma's motto of providing equality of opportunity to the economically disenfranchised. Magma today is one of the largest asset finance companies and carries an asset base of Rs 10,900 crore.
In response to rapidly evolving demand, Magma offers individual and corporate customers a range of financial products and services in:
* Commercial Vehicle Finance
* Construction Equipment Finance
* Car and Utility Vehicle Finance
* Suvidha Loans (Refinance)
* Strategic Construction Equipment Finance
* Tractor Finance
* SME Loans
Magma not only provides a one-stop-shop financing facility to the wide base of customers, also fulfils the dreams of millions of first-time entrepreneurs, catalysing local economies and helping the nation grow.
Magma has been one of the fastest growing asset financing companies in the country with a CAGR (compounded annual growth rate) of more than 26% in business growth over the past five years.
The rapid growth does not derive solely from a conscious initiative in growing our physical infrastructure; it is also owing to careful investments in lasting relationships with team members, alliance partners, customers and vendors.
The company's vision is to become the largest retail asset financing company in the country.