Magma Revenue and Competitors

Magma Fincorp Limited is one of the leading retail asset finance companies in India. Since our inception in 1988, Magma has been investing in helping to transform the diverse aspirations of its customers into credible achievements. A one-stop shop for varied financing solutions, Magma caters to a wide cross-section of customers. Headquartered in Kolkata (India) & registered with the Reserve Bank of India Magma has, over the years successfully focused and penetrated into the rural & semi-urban markets, gaining a deep insight into this “rurban” customer segment & helping them grow their business across the hinterland of India. Magma serves 21 states through over 297 offices, being present in 1,600 Talukas & 2,900 locations where we have customers. Qualified teams of over 9,400 Magmaites represent us across the country. The company offers a diversified boutique of financial products & services: Loans for Cars & Utility Vehicles, Commercial Vehicles, Construction Equipment, Tractors, Used Vehicles, SME Businesses, Mortgage Finance and General Insurance. Between 2012-2013, Magma launched Housing following the acquisition of the mortgage business of GE Money in India. General Insurance business was operationalized through Magma HDI General Insurance Company, a joint venture with HDI Gerling. The HDI-Gerling brand is a part of Hannover based Talanx group, the third-largest German insurance Group operating in around 150 countries across the globe. Besides being a one-stop-shop financing facility to our customers, Magma fulfills dreams of first-time entrepreneurs and is best recognized for providing an equality of opportunity to the economically disenfranchised. Our Vision is “To become India's largest retail asset finance company.” First-Time Users (FTUs) & First Time Buyers (FTBs) experience the biggest problems in loan mobilization linked to paperwork required by these institutions & the inability to provide collateral security that most lenders demand.