Mahaveer Finance

Company profile

Mahaveer Finance company profile

Mahaveer Finance is a non-banking finance company based in Chennai. It is currently managed by Mr. Dugar and his sons, Deepak Dugar and Praveen Dugar. The company predominantly finances used commercial vehicles in the regions of Tamil Nadu, Puducherry, and Andhra Pradesh through a network of 20 branches. Mahaveer focuses on standalone owner-drivers operating in the small commercial vehicle segment and finances in Tier-II and III locations. The company has a keen focus on customer retention with the intent of growing with the customer and creating multiple financing opportunities during the life cycle of the customer. Mahaveer has established rigorous credit controls, portfolio monitoring systems, and loan recovery systems, which is reflected in its gross NPA levels, which are much lower than industry benchmarks. At the same time, the company has attractive operating metrics with yields of about 23%.