Margadarsi Chits has broadened its footprint in Karnataka by launching its 122nd branch in Kote Nadu, Chitradurga. The inauguration was led by Managing Director Sailaja Kiron, marking another step forward in the company’s journey across four states.
Addressing the media, MD Sailaja Kiron shared that Margadarsi Chit Fund, founded in 1962 by Ramoji Rao, operates successfully in Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu. With 121 existing branches, the newly opened Chitradurga unit becomes the 26th in Karnataka. She also revealed plans to establish five to six more branches in the state within the year.
The company achieved a turnover of ₹10,000 crore this financial year and aims to reach ₹13,000 crore next year. Serving 2.5 lakh customers, Margadarsi Chits offers schemes ranging from ₹2.5 lakh to ₹1 crore, benefiting individuals across various professions, including farmers, educators, traders, doctors, and IT professionals.
Customers use their chit-fund payouts for multiple purposes, such as buying property, constructing homes, starting businesses, and funding education or marriages. Many Chitradurga residents expressed their satisfaction, calling Margadarsi a trusted financial partner.
Subscribers like Prashant, a farmer, and Syed Ahmed, an ITI college principal, highlighted the reliability of the company, crediting it for helping them meet personal and professional financial goals.
The event saw the participation of senior executives, branch managers, and loyal customers, celebrating the firm’s continued commitment to financial empowerment.
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