{"id":13012,"date":"2018-09-09T02:42:13","date_gmt":"2018-09-09T02:42:13","guid":{"rendered":"http:\/\/faceinews.com\/?p=13012"},"modified":"2018-09-09T02:42:13","modified_gmt":"2018-09-09T02:42:13","slug":"kanakadurga-finance-bets-big-on-tamil-nadu","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=13012","title":{"rendered":"KANAKADURGA FINANCE BETS BIG ON TAMIL NADU"},"content":{"rendered":"

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\"Photo<\/a><\/strong><\/p>\n

\"Faceinews<\/a><\/p>\n

Chennai: 07.09.2018: Kanakadurga Finance Limited<\/strong>,\u00a0an asset backed Non-Banking Financial Company (NBFC) based out of Vijayawada in Andhra Pradesh has\u00a0inaugurated its 100th<\/sup>\u00a0branch in Tamil Nadu. It is the company\u2019s 10th<\/sup>\u00a0in Tamil Nadu.<\/p>\n

The branch was inaugurated at Madurai by the auspicious hands of\u00a0Mr. S. Lakshmi Narayana, Chairman & Managing Director, Kanakadurga Finance Limited<\/strong>\u00a0in the presence of members from the Board of Directors and senior officials of the company.<\/p>\n

Speaking on the occasion,\u00a0Mr. S. Lakshmi Narayana\u00a0<\/strong>said,\u00a0\u201cThis 100th<\/sup>\u00a0branch is an incredible milestone for us, and in line with Kanakadurga\u2019s endeavour to play a major role in creating financial inclusion for those left traditionally undeserved by banks and financial institutions.\u00a0Tamil Nadu has always been and continues to be a very important market for us. We stay committed to our business philosophy of enabling access to finance to our target customers. With our continued commitment towards going that extra mile for our customers in catering to their finance requirements, we aim to ensure that their experience with Kanakadurga is the best.\u201d<\/em><\/p>\n

Incorporated in 1994, Kanakadurga Finance Limited\u2019s Assets Under Management (AUM) stood at INR 380-cr as on August 31, 2018 with 40,000 plus active clients. For the year 2017 \u2013 2018, the total vehicle disbursement was INR 243.10-cr. 100% of the company\u2019s portfolio is secured.<\/p>\n

\u00a0Presently the company\u2019s branches are spread across 5 states \u2013 Andhra Pradesh, Telengana, Karnataka, Gujarat and Tamil Nadu.<\/p>\n

\u00a0\"Photo<\/a><\/p>\n

In Tamil Nadu, Kanakadurga Finance has branches in Chennai (3), Coimbatore (1), Hosur (1), Madurai (2\u2026including the one inaugurated today), Vellore (1), Sivakasi (1) and Krishnagiri (1). The company has plans to opens branches in Trichy, Karur, Dindigul, Ariyalur, Salem, Theni, Tuticorin, Virudhunagar, Sivaganga, Ramanathapuram, Tirunelveli and Nagercoil.<\/p>\n

Kanakadurga Finance\u2019s existing product portfolio includes used commercial vehicle loans, two-wheeler loans, three-wheeler loans and gold loans. The company doesn\u2019t give loans for consumption but for earning livelihood.<\/p>\n

“To this day\u00a0Kanakadurga Finance is driven by the entrepreneurial spirit of our Founder, which has enabled us to constantly push new boundaries and expand our offerings portfolio. Our strategy of establishing and developing core financing areas that address the changing needs of our customers has enabled us to foster a culture of innovation and excellence. We are geared up to cater to the\u00a0<\/u><\/em>needs of our customers, who are entrepreneurs themselves and are a very critical cog in the\u00a0economic development of our nation. As we move into our silver jubilee year, we look forward to more milestones in the years to come,\u201d<\/em>\u00a0adds\u00a0Mr.<\/strong>\u00a0S. Srimannarayana, Executive Director, Kanakadurga Finance Limited<\/strong>.<\/p>\n

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In the fourth quarter of 2016 – 2017, BanyanTree Growth Capital II, a\u00a0Mauritius-based PE that seeks to invest in SMEs across sectors in India, had\u00a0pumped first round of external equity into Kanakadurga Finance.<\/p>\n

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About Kanakadurga Finance<\/strong><\/p>\n

Kanakadurga Finance Limited was incorporated in the year 1994 in Vijayawada (Andhra Pradesh). Since its inception, the company has always believed in providing financial solutions to the rural, semi-urban and urban borrowers. Led by two generations of promoters who have carved a niche in the industry over the past 40 years, Kanakadurga Finance is today a fast-growing Non-Banking Financial Company (NBFC) successfully operating in the states of Andhra Pradesh, Telengana, Karnataka, Tamil Nadu and Gujarat; with exclusive gold loan branches in Andhra Pradesh. The company has a brand promise that transcends the category of its operations and works towards fulfilling dreams, which is aptly reflected in its catchphrase\u00a0\u2018Your prosperity, our priority\u2019<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Chennai: 07.09.2018: Kanakadurga Finance Limited,\u00a0an asset backed Non-Banking Financial Company (NBFC) based out of Vijayawada in Andhra Pradesh has\u00a0inaugurated its 100th\u00a0branch in Tamil Nadu. It is the company\u2019s 10th\u00a0in Tamil Nadu. The branch was inaugurated at Madurai by the auspicious hands of\u00a0Mr. S. Lakshmi Narayana, Chairman & Managing Director, Kanakadurga Finance Limited\u00a0in the presence of […]<\/p>\n","protected":false},"author":2,"featured_media":13014,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-13012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/13012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13012"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/13012\/revisions"}],"predecessor-version":[{"id":13015,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/13012\/revisions\/13015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/13014"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}