Margadarsi Chit Fund has achieved a business turnover of Rs 10,204 crore in fiscal 2017-18 and has set a target to achieve Rs 20,000 crore turnover by 2025, its Managing Director Sailaja Kiron said here today.
"We have done turnover of Rs 10,204 crore in FY 2017-18. For current fiscal (2018-19) the company has set a target of Rs 10,800 crore turnover and is hopeful of exceeding Rs 11,000 crore," Sailaja told reporters here.
The company, established in 1962 with its first branch in Himyatnagar here, now has 105 branches in Telangana, Andhra Pradesh, Tamil Nadu and Karnataka.
Asked if the company planned to foray into the banking sector, she said "No...Maybe we will think about an NBFC...and not a bank. We are just contemplating on it (NBFC) and it is in the initial stage. Nothing has been formalised."
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