Chemmanur Credits and Investments Ltd is likely to end the year with a turnover of Rs 2000 crore

Chemmanur Credits and Investments Ltd, the newly floated NBFC of the Boby Chemmanur International Group, is likely to end the year with a turnover of Rs 2000 crore. Boby Chemmanur, chairman of the company, announced the launch of a sales vertical for marketing its gold loan products and jewellery under its 'Bhadram' scheme.

The company has recruited nearly 1200 sales managers for this purpose. The company's assets under management (AUM) is expected to be around Rs 1200 crore at the end of the first year. In the first six months the company has made a turnover of Rs 250 crore.

The company has already opened 60 branches while 100 more locations have been earmarked for branch opening in Kerala. The Chemmanur Jewellery has a network of 25 branches in India and abroad.