Capri Global Capital Marks Rs 1,000 Crore Car Loan Disbursement, Plans FY 23–24 Growth
Capri Global Capital Ltd., an NBFC, has disbursed Rs 1000 crore in car loans in October 2023. The company has reported a surge in car loan disbursals and an all-time high record of disbursing 10,000 car loan cases in October 2023. CGCL plans to disburse loans worth Rs 10,000 crore in FY 23–24. Within 30 months of operations, the car loan distribution business has scaled up its operations to encompass 722 locations, providing coverage across 32 states and union territories in India.
Rajesh Sharma, Managing Director of Capri Global Capital, stated, "As of Q2 FY24, our car loan aggregation business accounts for 4500 crores. Since the launch in Q4 FY21, we have disbursed car loans worth Rs 13000 crore. The demand for car loans for mid-segment SUVs is on the rise, particularly in tier 2 and tier 3 cities. We have enhanced our branch network and manpower strength by over 50 per cent in these markets. Currently, 1800 employees are delivering exceptional car loan services to our patrons".
CGCL's expanding its services has been instrumental in its partnership with eight commercial banks, including Bank of Baroda, Union Bank of India, Indian Bank, Bank of India, HDFC Bank, Indian Overseas Bank, Punjab and Sindh Bank, and Yes Bank. These collaborations have not only strengthened CGCL's position in the market but have also enhanced the accessibility of car loans to a broader customer base.
