Hasti Finance Ltd Company Summary

Hasti Finance Ltd Summary

Hasti Finance Limited was incorporated as a Private Limited Company on August 16, 1994 and was converted into a Public Limited Company on March 24, 1995. The Company is covered under the category of Loan Company. The target sector of the Company is Small business man and middle class households. Accordingly main products offered by the Company are Unsecured Business and Personal Loan and Gold Loan. It provides financial services in India and offers hire purchase finance for the auto sector. The company gets its income from interest, hire purchase and financing of commercial and domestic vehicles, and other financing activities. Margins are under strain due to the entry of banks and financial institutions with similar activities.In December 2007, the company approved investments for acquisition or taking up membership of BSE, NSE, NCDEX and MCIX exchanges for entering the stock broking business.The company acquired the 100% stakes in Surana Computers & Software Ltd, a company doing the computer hardware and software development in 2013. Though the Company managed to keep the pace as long as the revenues are concerned, its profitability was affected by the provisioning of non-performing assets as per Reserve Bank of India Prudential Norms for NBFC Loan Company in 2015. The Company has adopted small scale business marketing strategies and is carrying on business of providing finance since there is huge competition in market in this type of business sector.