Hero FinCorp

Hero FinCorp Ltd
Industry Financial Services
Headquarters New Delhi, India
Key people
 Abhimanyu Munjal, CEO
Products Two Wheeler Loans
Loan Against Property
SME & Commercial Loans
Revenue ₹ 298.62 crore (2014-15)
Rating AA+ / Stable
Website www.herofincorp.com

Hero FinCorp (an associate company of Hero MotoCorp), is an Indian Non-Banking Financial Company (NBFC). The company is currently engaged in consumer finance businesses and commercial lending. Consumer Finance includes financing Hero MotoCorp Two Wheelers and providing Loans against property. On the commercial lending side it provides Indian corporates a wide portfolio of financing products which include working capital loans, machine loans amongst others.

Journey

The company was launched in 1991 as Hero Honda Finlease Ltd by extending working capital loans and medium-term finance to component suppliers and dealers of parent firm Hero MotoCorp, then called Hero Honda Motors Ltd.[1]

In 2011, as Hero Honda Motors was restructured, the company was re-named Hero FinCorp and acquired its present form. By April 2013, the company began giving two-wheelers loans to customers. In 2014, it ventured into loans against property, loans for small and medium enterprises and commercial loans.[2]

Products / Services

Two Wheeler Loans

Hero FinCorp provides financing for purchase of Hero MotoCorp two wheelers. The firm claims to have over 350,000 active two-wheeler customer loans in June 2015.[2] It plans to be present in over 730 Hero MotoCorp dealerships by end of March 2016.

Loan Against Property

The company provides loans against property to corporates, partnership firms and self employed individuals for up to 15 years with customizable interest rates.

SME & Commercial Loans

  1. Bill Discounting
  2. Working Capital Term Loan
  3. Working Capital Demand Loan
  4. Term Loan
  5. Project Finance
  6. Acquisition Financing
  7. Machine Term Loan
  8. Medical Equipment Financing

Company Performance

Hero FinCorp recorded a turnover of Rs.298.62[2] crore in 2014-15.

The company has been rated as AA+ / stable by rating agencies such as CRISIL[3] and ICRA.[4]

Growth Plans

Hero FinCorp expects to create a Rs.5,000-crore loan book by 2016-17, with a target of 650,000 customers.[2]

See also

References

  1. ↑ "Hero FinCorp forays into retail financing" Economic Times, Mumbai, 03 May 2013. Retrieved on 06 November 2015.
  2. 1 2 3 4 "Hero FinCorp Ltd." Livemint. Retrieved 2015-11-06.
  3. ↑ "CRISIL Rating of Hero FinCorp Ltd." CRISIL Rating. Retrieved 2015-11-10.
  4. ↑ "ICRA Rating - Hero FinCorp Ltd." ICRA Rating. Retrieved 2015-11-10.

External links

This article is issued from Wikipedia - version of the Wednesday, March 30, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.