Hotline: 1800 102 2007
Hotline: 1800 102 2007
Feb, 21 2019

Muthoot Pappachan Chits aims Rs 3,000 crore business by FY20-end

Currently, the company is generating business worth Rs 300 crore from the southern region.

Muthoot Pappachan Chits aims Rs 3,000 crore business by FY20-end

Muthoot Pappachan Chits, part of the diversified Muthoot Pappachan Group, is aiming to have Rs 3,000 crore business by the end of next fiscal (2019-20). This will be supported by its aggressive expansion plan across non-metros in the southern region.

Currently, the company is generating business worth Rs 300 crore from the southern region.

Thomas John Muthoot, Chairman and Managing Director, Muthoot Pappachan Group, said, "While regulations are clear now, adoption of technology comes in handy to reduce cost and be competitive."

Roy John, Vice-President, Chits Business, stated, "By next fiscal, we want to cover entire Tier 2 cities of south and target a total business of Rs 3,000 crore with more than 15,000 subscribers."

In Karnataka, the company is operating chits business in Bengaluru, and will soon be expanding to Davangere, Mysore and Hubballi. While in Tamil Nadu, after Chennai, it will expand to Coimbatore, Tirupur, Tiruchi and Madurai. The company will be covering other southern States in the next fiscal.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • About Us: 4000 Salons in 90 cities in the world passed..
    Locations looking for expansion Uttar pradesh
    Establishment year 1990
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bishrakh Uttar pradesh
  • Ayurvedic, Herbal & Organic Products
    About Us:  Yogis Ayurveda working since four generations in healthcare sector..
    Locations looking for expansion Punjab
    Establishment year 1980
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Panchkula Punjab
  • Designer
    About Us: Elite Footwear is a brainchild of an entrepreneur; Sri..
    Locations looking for expansion West bengal
    Establishment year 1960
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 1200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater kolkata West bengal
  • Tea And Coffee Chain
    About Us: ChaiGhar is a local finger-food and refreshment outlet that..
    Locations looking for expansion Delhi
    Establishment year 2020
    Franchising Launch Date 2020
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities