Mahindra & Mahindra Financial Services Limited
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| Public company | |
| Traded as | : M&MFIN : |
| Industry | NBFC |
| Founded | 1991 |
| Headquarters | Mumbai, India |
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Area served
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India |
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Key people
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Ramesh Iyer, Vice Chairman & President Mahindra Financial Service Sector |
| Products | Financial services |
| Revenue |
 ₹49,530 million (FY'14)
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| Total assets |
₹31,665.72 million (FY'14)
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| Total equity |
₹1,127.1 million (FY'14)
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Number of employees
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15,000+ (FY'14) |
| Parent | Mahindra & Mahindra |
| Subsidiaries | Mahindra Insurance Brokers Limited Mahindra Rural Housing Finance Mahindra Asset Management Company |
| Website | MahindraFinance.com |
Mahindra & Mahindra Financial Services Limited (MMFSL) is one of India’s leading Rural NBFC headquartered in Mumbai, India. It is amongst the top tractor financer in India and offers a wide range of financial products to address varied customer requirements. The NBFC has 1000+ offices spread across 1 in every 3 villages across India with a total of more than 3 Million customers till date.
The Mahindra Finance journey started on January 1, 1991, as Maxi Motors Financial Services Limited. They received the certificate of commencement of business on February 19, 1991. On November 3, 1992, Mahindra Finance changed their name to Mahindra & Mahindra Financial Services Limited. Mahindra Finance is registered with the Reserve Bank of India as an asset finance, deposit taking NBFC.
In 1993 it commenced financing M & M Utility vehicles and in 1995 started its first branch outside Mumbai, in Jaipur. Began financing Non M & M vehicles in 2002 and got into the business of financing of Commercial Vehicles and Construction Equipments in 2009. 2011 was the year in which they had a Joint Venture with Rabobank subsidiary for tractor financing in USA and consolidated the product portfolio by introducing Small and Medium Enterprises (SME) financing.
As of July 2016,. Ramesh Iyer is the Vice Chairman & President of Mahindra Financial Service Sector :
Vehicle Financing: Auto and utility vehicles, tractors, cars, commercial vehicles and construction equipment Pre-owned vehiclancing: Loans for pre-owned cars, multi-utility vehicles, tractors and commercial vehicle
Loans for varied purposes like project finance, equipment finance and working capital finance.
Finances, rural and semi-urban population to build self-sustaining houses, pukka houses and ensure their uplift meant in society
Insurance solutions to retail customers as well as corporations through our subsidiary Mahindra Insurance Brokers Limited
Launched in June 2016, it offers mutual fund products, whose NAV is around 1000 INR. The MAMC started with an AUM of 1200 Million INR.
Advises clients on investing money through AMFI certified professionals under the brand Mahindra Finance Finsmart
The MMFSL Fixed Deposit has a CRISIL rating of 'FAAA', indicating a high level of safety.
Mahindra Asset Management Company Private Limited is a wholly owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL). Mahindra AMC Pvt Ltd, is the Investment Manager for Mahindra Mutual Fund. It started its operation in the first week of July 2016, with an AUM of 1200 Million INR and its NAV is floating around 1000 INR
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