Margadarsi Chit surpasses Rs 10,000 cr turnover mark, eyes Rs 20,000 cr by 2025

One of India’s leading chit fund firms Margadarsi Chit Fund has announced surpassing Rs 10,000 crore mark in turnover by fiscal to March 2018.

Founded in 1962 with first branch at Himayatnagar in Hyderabad by media baron Ramoji Rao of Eenadu newspaper, the chit fund company currently operates 105 branches spread across four Southern India states of Telangana, Andhra Pradesh, Tamil Nadu and Karnataka.

At present, the chit fund firm, part of Ramoji group, is headed by his daughter-in-law Sailaja Kiron. Under her leadership, Margadarsi has reported 26-fold growth from Rs 382 crore of turnover in 1994-95 to Rs 10,204 crore in 2017-18.

“Our success can be credited to the values that Sri Ramoji garu incorporated into the company on its day of inception. These values have now become a tradition at every Margadarsi branch,” said Sailaja Kiron, adding that the values include honesty in every transaction, absolute professional integrity, high quality of service, and uncompromised financial discipline.

These values, she said, also reflects in the ever-growing subscriber base of Margadarsi, which has so far serviced over 50 lakh people since inception.

“We have helped people from all walks of life achieve their dreams. From small business owners and big-time investors to teachers and housewives, everyone has been investing in Margadarsi,” she said.

Further, Sailaja Kiron expressed confidence that Margadarsi Chit Fund would surpass the Rs 20,000 crore turnover mark by 2025.