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Future Capital to launch 100 stores within group outlets in FY12

Future Capital to launch 100 stores within group outlets in FY12
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First Published: Tue, Apr 05 2011. 05 45 PM IST
Updated: Tue, Apr 05 2011. 05 45 PM IST
Mumbai: Financial services provider Future Capital Holdings Ltd said on Tuesday it plans to open 100 stores offering financial services within the group’s outlets in the current fiscal year, a top official said.
The company also said it targets to have 100,000 customers during the year and disburse loans worth Rs 1000 crore in FY12 from these stores.
The company, part of India’s Future Group that runs the country’s largest retailer Pantaloon Retail Ltd , hopes to leverage the group’s presence across various retail formats.
“We believe that our biggest competitive advantage and differentiator is the ability to provide services to customers of the Future Group stores,” V Vaidyanathan, vice-chairman and managing director, told reporters.
Future Capital expects its total loanbook for the year to be around Rs 5000 crore, Vaidyanathan added.
The company recently sold its 50% stake in FCH Centrum Direct Ltd, a joint venture with Centrum Capital Ltd, and acquired 50% stake held by Centrum Capital in another joint venture firm FCH Centrum Wealth Managers Ltd.
Shares of the firm ended 4.96% up at Rs 165 in a flat Mumbai market on Tuesday.
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First Published: Tue, Apr 05 2011. 05 45 PM IST