Our Strength
Gold loans are the core products in our asset portfolio. We believe that our experience, through our Promoters, has enabled us to have a leading position in the Gold Loan business in India. Highlights of our market leading position include the following:
We are the largest gold financing company in India* in terms of loan portfolio, according to IMaCS Industry Report (2010 Upda
te). As per our restated audited financial statements, our loan portfolio as of March 31, 2010 and November 30, 2010 comprised approximately 2.8 million loan accounts and approximately 4.1 million loan accounts, respectively, in India with Gold Loans outstanding of 73,417.3 million and 128,977.7 million, respectively . We have the largest branch network among gold loan NBFCs, according to the IMaCS Industry Report (2010 Update). As of March 31, 2010, we operated 1,605 branches across 19 states, the national capital territory of Delhi and two union territories in India. Our branch network has expanded significantly in recent years from 373 branches as of March 31, 2005 to 2,611 branches as of February 28, 2011, comprising 465 branches in northern India, 1,753 branches in southern India, 297 branches in western India and 96 branches in eastern India covering 20 states , the national capital territory of Delhi and four union territories in India. In the month of February 2011, we served an average of 67,953 customers daily. We believe that due to our early entry we have built a recognizable brand in the rural and semi-urban markets of India, particularly in the southern Indian states of Tamil Nadu, Kerala, Andhra Pradesh and Karnataka. As of March 31, 2010 and November 30, 2010, the southern Indian states of Tamil Nadu, Kerala, Andhra Pradesh, Karnataka and the Union Territory of Pondicherry constituted 75.38% and 75.28%, respectively of our total Gold Loan portfolio. We have a strong presence in under-served rural and semi-urban markets. A large portion of the rural population has limited access to credit either because of their inability to meet the eligibility requirements of banks and financial institutions because credit is not available in a timely manner, or at all. We have positioned ourselves to provide loans targeted at this market. We offer products with varying loan amounts, advance rates (per gram of gold) and interest rates. The principal loan amounts we disburse usually range from 2,000.0 to 100,000.0 while interest rates on our Gold Loans range between 12.00% to 30.00% per annum.
