PHF Leasing Limited widens its presence in Madhya Pradesh

Press Release, Sep 20, 2024, 6:56 PM IST

Representative image (credit: Shutterstock)

PHF Leasing Limited, the Metropolitan Stock Exchange listed (PHF / INE405N01016), NBFC, headquartered in Jalandhar, Punjab, has extensively widened its penetration in Madhya Pradesh. PHF will offer the entire portfolio of its fastest growing vertical, EV loans for E Rickshaws, E Loaders and electric 2 wheelers.

This is a significant expansion effort by PHF Leasing and includes presence in several cities and towns in Madhya Pradesh, including Bhopal, Chhatarpur, Gwalior, Indore, Jabalpur, Katni, Rewa, Sagar, Satna, Shivpuri, Sidhi, Jawa, Raisen, Guna, Ashok Nagar, Vidhisha, Karera, Dabra, Dewas, Ujjain, Bina, Ganj Basoda, Pipariya, Hoshangabad, and Chitrakut. The idea is to reach every nook and corner of the state and ensure the availability of quality financial products to the underserved communities.

PHF Leasing is a Non-Banking Financial Company registered with Reserve Bank of India since 1998. The company offers Mortgage loans against immovable property (LAP) and financing of E-vehicles primarily E-rickshaws, E-loaders and EV – 2 wheelers. PHF Leasing is committed to the adoption of electric vehicles across various sectors, including logistics, last-mile delivery, and rural and urban transportation

“We studied the MP market and decided to go deep into the state rather than have only offerings in 2-3 cities. Our product portfolio focuses on providing loans to the underserved sections of society with an aim to make themselves reliant. In MP, we will first offer our entire EV loans portfolio and then will launch other products”, says Mr. Shalya Gupta, CEO, PHF Leasing Limited.

“With the Electric Mobility Promotion Scheme and MP Government’s thrust on EV, we firmly believe that the adoption of electric two-wheelers and three-wheelers will gain steam, and there will be requirement of quality, transparent and flexible financing options. In such a scenario, PHF expects to be in the forefront of the EV loans business in the next 6-12 months in the state”, Mr. Gupta adds.