Hinduja Leyland Finance Limited was incorporated on November 12, 2008, as a public limited company. The Company received its certificate of commencement of business from the RoC on March 4, 2009. Pursuant to a certificate issued by the RBI on March 22, 2010, the Company was permitted to commence operations as a NBFC under section 45 IA of the Reserve Bank of India Act, 1934. The Company was originally classified as a SI-NBFC-ND. The Company was subsequently granted the status of an NBFC-AFC by the RBI pursuant to a certificate of registration received on May 12, 2014.
The Company is one of the leading vehicle finance NBFCs in India with a focus on urban and semi-urban markets. It provides retail finance through a wide range of vehicle financing and housing finance products. Its assets under management ('AUM') have grown at a CAGR of 48.30% from Rs. 41,370.54 million as of March 31, 2014 to Rs. 200,091.66 million as of March 31, 2018.
The Company finance a wide range of commercial and personal vehicles, which include medium and heavy commercial vehicles ('MHCVs'), light commercial vehicles ('LCVs'), small commercial vehicles ('SCVs'), cars, multiutility vehicles, tippers, three wheelers, and two-wheelers, tractors and construction equipment including used vehicles. Its vehicle finance business has a diversified customer base comprising of First Time Buyers or FTBs, fleet operators (small, medium, strategic and large) captive users and self-employed individuals, who are largely based in urban and semi-urban locations.
The Company commenced its housing finance business in Fiscal 2016 through its wholly-owned subsidiary, Hinduja Housing Finance Limited, which focuses on providing finance for housing loans including affordable housing loans. The Company also extend loans to other NBFCs that provide financing products including microfinance, vehicle loans, affordable housing, and MSME loans.
The Company is promoted by Ashok Leyland Limited ('ALL'). It is a part of the Hinduja group which is a diversified global business group with a track record of growing business in several industries. The Company leverages its relationship with ALL, which is the second largest carrier in the MHCV segment in India, to source customers and expand its operational network.
The Company has established an expansive operational network within nine years of commencing operations. As of March 31, 2018, its operations included 349 branch offices and 1,550 Business Locations spread across 23 States and two Union Territories across India. Out of its total 1,550 Business Locations the company has categorized 867 Business Locations as urban, 637 Business Locations as semi-urban and 46 Business Locations as rural based on the classification provided by the Census Organization of India Report. In addition, as of March 31, 2018, the company had 80 branches and 101 Business Locations from where it conducts housing finance activities.
The Company has entered into preferred financier arrangements with various motor vehicle OEMs to provide financing for their vehicles, and work closely with their respective dealer network to provide vehicle finance products to their customer base.