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About Us - Our Strengths
A number of business-strengthening initiatives have helped us gain a leadership position in a competitive industry.
- Credit appraisal expertise
We have implemented credit screen-based and template-driven appraisal processes for approval of new proposals. This has resulted in uniform quality of business sourcing across all branches yet decentralisation of credit decision to achieve faster turnaround time (TAT).
Further, the portfolio quality is regularly monitored at regional levels on scientific parameters and corrective measures are taken based on feedback from monitoring.
- Collection expertise
To ensure complete focus for achieving timely collection of the instalments throughout the month, we have introduced separate collection teams at all branches. The segregation of sales and collection functions has also eliminated conflict in the two functions in interactions with the customers and resulted in vastly improved collection efficiency and lower NPAs.
- Well-defined customer identification
When it comes to the kind of customer we fund, we walk the road less travelled: We focus on the small customer as well as first-time vehicle and equipment user in under-served areas. This reflects in our customer profile: over 80% of our customers are either first-time buyers or small customers with 0-5 vehicles or equipment. This affords us a better spread and intimate relationships.
- Wide geographical presence
We are selectively present across 21 states, which offer us the benefit of under-penetration, growing consumer aspirations and attractive returns. We are particularly strong in the BIMARU states (Bihar, Madhya Pradesh, Rajasthan and Uttar Pradesh) and Orissa: We have 9 regional offices, 153 branches and 2,000 sourcing points (marketing clusters) in this region.
38% of our revenue comes from semi-urban areas, 22% from rural pockets and only 40% from urban India.
This geographic selection works to our advantage: our 'fleet on the street' ensures a one-point interface with our clients, leading to a lower cost and top-of-the-mind recall.
- Prudent product portfolio mix
We finance products that power a growing India. Nearly 32% of our revenues are derived from the financing of commercial vehicles, (medium and heavy commercial vehicles, light commercial vehicles and public bus), 31% from financing construction equipment (excavators, loaders, motor graders, soil compactors, borewell unit, tippers and other standard mining and road construction equipment) and 24% from multi-utility vehicles and passenger cars.
Over the years, we have introduced insurance products, strengthening our one-stop service proposition.
We are also present in the SME loan segment.
We have also extended our activities to the financing of tractors.
- IT systems and infrastructure
Information Technology (IT) is the biggest enabler for retail financing across our vast distribution network and has attained unprecedented importance in achieving the business goals. Over the years, we have made sustained investments in state-of-the-art technologies to develop new systems or enhance the existing ones and achieve seamless connectivity for data and voice across regions to facilitate online business, instant report access for faster decision-making and improved service levels.
The entire business runs on Oracle-based centralised database and application systems following three-tier architecture. Besides extensive VPN connectivity covering all the Big Branches, CITRIX solution along with Netscaler enables remotest of branches to gain access to the Application Systems through the internet, enabling real-time avaiability of information. We have also invested in Business Intelligence systems and tools to facilitate deeper data analysis and informed decision-making.
A disaster recovery system with adequate redundancy is already provided as a contingency measure.
This IT infrastructure is continuously upgraded with the latest innovations to synchronise with our business growth.
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