• News by Month

  Select Month February 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 May 2010 April 2010 March 2010 February 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 May 2009 April 2009 March 2009 February 2009 January 2009 December 2008 November 2008 October 2008 September 2008 August 2008 July 2008 June 2008 May 2008 April 2008 March 2008 February 2008 January 2008 December 2007 November 2007 October 2007 September 2007 August 2007 July 2007 June 2007 May 2007 April 2007 March 2007 February 2007 January 2007 December 2006 November 2006 October 2006 September 2006

• News by City

  • Bangalore
  • Chennai
  • Delhi
  • Faridabad
  • Gurgaon
  • Hyderabad
  • Kolkata
  • Mumbai
  • Noida
  • Pune

• News by Category

  • NRI
  • FDI
  • Home Loans
  • Real Estate India
  • Banking and Finance
  • Real Estate Developers

« Banks Offer Home Loan Bonanza this Diwali | Home | Real Estate Sector Still Deprived of Genuine Demand »

Tata Cap Plans at Least Five Times Growth in Retail Ventures

Tata Capital, the two-year old firm emerging to be the flagship financial services company within the Tata group, is targeting to grow its retail business by at least five times in five years to Rs 10,000 crore, with customers as its main focus. Over the last six months Tata Cap has leveraged the IT strength of software major TCS to develop its integrated technology platform, trained its staff to able to sell all types of financial products and is now in the process of setting up 100 more branches to take the total branch strength to 120 by December.

‘‘As of now our balance sheet size is about Rs 10,000 crore, of which Rs 2,000 crore is from our retail finance business. We plan to grow the retail business to at least Rs 10,000 crore by 2015,” Praveen P Kadle, MD & CEO, Tata Capital said. The immediate plan is to set up branches in metros and other cities. ‘‘Customer centricity being the main focus, in five years we plan to have a pan-India presence. As the company grows, we will decide on the branch network and the franchisee route,” Kadle said.

Tata Cap is putting in place systems and processes that will transform it into a customer-focussed company, from a product-centric company it was initially. At present, Tata Cap’s corporate finance division, that mainly finances construction equipment in infrastructure projects, is its largest division with a book size of about Rs 5,400 crore. The other business of significant size is its treasury portfolio investment, currently worth Rs 2,000 crore. While the home loan business, which started in July, is at a formative stage.

To meet its capital requirement for business expansion, Tata Cap is also in the midst of a capital raising process and can mobilise up to Rs 2,100 crore as Tier II capital. Earlier this year, as part of its Tier I capital, the company raised Rs 1,500 crore through a public offer of non-convertible debentures.

News Published Under:   Real Estate India | No Comments »

Comments

Name (required)   

Mail (required)      

URL