Kolkata, 4th November, 2011: Magma Fincorp Limited, India's leading retail finance company today announced the joining of
Mr Sunil Gupta as National Sales Head for Construction Equipment & Strategic Construction Equipment vertical.

Mr Gupta is a Chartered Accountant and has more than 18 years of work experience. He started his career at Khaitan Hostombe and then was associated with Magma for 5 years. In 2002, he joined GE Capital and worked there for 7 years in various capacities. He joins Magma from Religare Finvest Ltd, where he was the National Credit Head.

Commenting on his appointment, Mr Ashutosh Shukla, COO Magma Fincorp Limited said, "We are glad to have Mr Gupta back with us. His experience and expertise well help us boost our CE and SCE business to a newer height."

Mr Gupta is married with two kids and his interest lies in yoga and he also visits gym regularly.

About Magma Fincorp Limited

Magma Fincorp Limited ("Magma") is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The Company, having started operations over two decades back, is listed on the Bombay Stock Exchange Limited and the National Stock Exchange in India.

Magma provides a bouquet of financial products including financing of Utility Vehicles & Cars, Commercial Vehicles, Construction Equipments, Tractors and SME Loans. Magma has a dedicated base of around 2.6 lac customers and has assets of INR 11378 crores under management. The company has 190 branches in 20 states and 1 union territory and employs over 5000 people.

Magma has signed a joint venture with HDI Gerling, part of Talanx Group, Germany's third largest insurance group to start a general insurance company in India, which since has received R1 license from the insurance regulator.