Finance companies provide financial aid to the people in the form of loans and startup capital. Whether you are planning a business start-up or want to buy a property, these companies provide you financial support and economic stability. If you have decided to go for them then check out the top 5 financial companies in India listed below. Know which company is ideal for your financial needs?
1. HDFC (Housing Development Finance Corporation)
HDFC needs no introduction as it is a well-known name among all financial companies. Hasmukhbhai Parekh was the founder of this company. It has been providing housing along with non-housing loans since 1977. It has 1633+ employees and numerous branches throughout the country. Talking about its income & profit then it is around Rs. 27,400 crore and Rs. 5,900 crore. Also, it plays an important role in our countries economic growth plus has millions of satisfied customers as well. The company even provides financial support to small-scale industries.
2. Bajaj Finance Limited
Bajaj Finance Limited was established in the year 2007 and belongs to the Baja group. It is known for providing various types of loans like a gold loan, home loan, personal loan, etc. It has a market value of Rs. 31,225 plus earns Rs. 5,400 crore per year. It has more than 20,000 employees and has 1400 branches across the country. The financial company is trustable and helps people with their financial needs.
3. LIC Housing Finance Limited
Since 1989, LIC Housing Finance Limited has been providing financial assistance to the people and considered trusted one among all. It provides loan for renovation and construction of office and houses. It also finances developers and builders for the construction or premises & Residential projects. It has a market capitalization of Rs. 24,423 with an income of Rs. 10,000.
4. Power Finance Corporation Limited
Mukesh Kumar Goel is the managing director & chairman of Power Finance Corporation Limited which was founded in the year 1986. It finance projects belongs to the power sector which further includes power distribution, power generation, and power transmission. Its income is around Rs. 24,000 crores and earns a net profit of around Rs. 5,900 crores. Joint sector companies, state electricity board, and private power companies are its regular & important customers.
5. REC India (Rural Electrification Corporation Limited)
Power projects have been financed by REC India which include Hydro Power projects, Thermal power projects and so on. The company was founded with an aim of providing financial support to the rural development projects. Its main aim is to contribute to the development of rural area. Tehri Hydro Electric Plant in Uttarakhand, Santaldih Thermal Power Plant in West Bengal, and Thermal Power Plant in Gujarat have financed by the Power Corporation. Talking about its profit then it is around Rs. 20,000 crores.
All the above-mentioned finance companies have been operating in India for decades. With the help of them, one can fulfill their financial needs. These finance companies have contributed a lot to the economic development of India and responsible for the economic growth as well.