Credifin Expands to Maharashtra, Chhattisgarh, Madhya Pradesh

New Delhi, Feb 24 (PTI) Credifin, a non-banking financial company, on Monday said it will expand operations in Maharashtra, Chhattisgarh, and Madhya Pradesh, and hire over 300 employees in the next two months.

Having presence in 11 states and Union Territories, Jalandhar-headquartered Credifin operates in more than 150 locations and employs over 550 people.

The expansion is expected to boost company's business significantly, with a targeted disbursement of Rs 200 crore across the new locations.

As part of its expansion thrust, Credifin is recruiting human resources in these states, with a goal of hiring over 300 people in Maharashtra, Chhattisgarh, and Madhya Pradesh, over the next two months, Credifin said in a release.

The company is planning to establish presence in major cities like Nagpur, Mumbai, Navi Mumbai and Pune in Maharashtra. In Chhattisgarh, it is targeting locations such as Raipur, Bilaspur, and Korba.

The company is also focused on introducing new loan offerings in Madhya Pradesh, particularly in cities such as Bhopal, Indore, Gwalior, Ujjain, Jabalpur, Sagar, Rewa, Satna, Neemuch, and Guna.

The company, which is offering vehicle loans in Madhya Pradesh, is now set to introduce mortgage loans offerings (loan against property) in the region in 2025.

"Our expansion into Maharashtra and Chhattisgarh, along with the introduction of mortgage loans in Madhya Pradesh, marks a significant milestone in our journey to become a leading player in the Indian financial services market," said Shalya Gupta, CEO, Credifin Limited.

Credifin closed the December quarter of financial year 2024-2025 with asset under management of Rs 312 crore.

Company's product portfolio includes secured MSME mortgage loans against immovable property (LAP) and financing e-vehicles primarily e-rickshaws, e-loaders and electric two-wheelers.