MUMBAI: Capri Global Capital Ltd, a diversified non-banking financial company, has disbursed Rs 1,000 crore in car loans in October 2023, marking a remarkable surge in car loan disbursals. The company has reported an all-time high record of disbursing 10,000 car loan cases in the same month. CGCL aims to disburse loans worth Rs 10,000 crore by FY 23-24, after disbursing INR 5,700 crore in the car loan vertical in FY 22-23.
Within 30 months of operations, the car loan distribution business has strategically scaled up its operations to encompass 722 locations, providing comprehensive coverage across 32 states and union territories in India. The company’s commitment to inclusive lending practices has resulted in a vast range of customers, ranging from entry-level cars to premium car owners.
Mr. Rajesh Sharma, Managing Director of Capri Global Capital, said, “The demand for car loans, especially for mid-segment SUVs, is on the rise, particularly in tier 2 and tier 3 cities. Our recent achievement reinforces our position as an undisputed leader and a trusted partner in car loans for banks and their clients.“
CGCL’s commitment to expanding its services has been instrumental in its partnership with eight leading commercial banks, including Bank of Baroda, Union Bank of India, Indian Bank, Bank of India, HDFC Bank, Indian Overseas Bank, Punjab and Sindh Bank, and Yes Bank. These collaborations have not only strengthened CGCL’s position in the market but have also enhanced the accessibility of car loans to a broader customer base.
Capri Global Capital Limited (CGCL) is a diversified Non-Banking Financial Company (NBFC) listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and is part of the NIFTY Small Cap 250 Index. The Company operates in high-growth segments such as MSME Loans, Affordable Housing Finance, Gold Loans, and Construction Finance. The Company also acts as a corporate distributor for car loan products from six leading commercial banks.
CGCL offers its loan products to the unbanked and underserved masses across Northern and Western geographies of the country, through its strong network of 700+ branches spread across 12 States and Union Territories. The tech-enabled processes and recently introduced business analytics ensure that CGCL offers products tailored to meet the requirements of borrowers with a solid governance and risk-control framework.
CGCL enjoys a robust credit rating of ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program and NCDs and the highest rating of ‘IVR A1+’ for its short-term borrowing program. The Housing Finance business is rated ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program. The Company has bagged ‘Best BFSI Brand 2021’ by The Economic Times and received certification as a Great Place to Work from Great Place to Work Institute for 2023-24 for a second consecutive year.
