Kirloskar Grp Announces Expansion into Realty, NBFC Segments
Kirloskar Oil Engines, Kirloskar Chillers, Kirloskar Pneumatic, Kirloskar Ferrous Industries and Kirloskar Industries have refreshed their respective business vision. The 'Limitless' vision will span over eight business areas, laying the foundation for aggressive plans in the B2C domain whilst continuing to power robust growth in the B2B companies. This will include large investments over two to three years across all business lines. This also involves infusion of new technologies, apart from new offerings including real estate and NBFC. A refreshed brand identity and colours have been adopted as a part of this exercise. Among the new consumer-facing businesses, there will be significant investment in the realty business Avante Spaces and Arka Fincap, the non-banking finance company (NBFC). Avante Spaces is developing the first of its land parcels based on customer-centric and future-forward principles. The business is looking at a mixed-development offering that includes retail and commercial space in smart buildings. Arka Fincap was established last year as a subsidiary of Kirloskar Oil Engines and began operations with a seed capital of Rs 1,000 crore. It is focusing on structured term financing solutions for corporations and loans to MSME borrowers and the real estate sector. In three years, Arka Fincap will expand into retail lending and consumer finance.
Tags : News/Views NBFC Realty+ Expansion Announces Kirloskar Grp