Bengaluru, NFAPost: Sree Gokulam Chits and Finance, a Chennai-based financial service company, will open its 481st branch at Kunigal in Tumkur District in Karnataka on Wednesday.
The branch will be inaugurated by doctor-turned-MLA Ranganath H D. As part of the event, the lighting of lamps will be done by Areshankara Math Mathadhyakshar Sri Siddarama Chaitanya Mahaswamy and Basaveswaramath Bidanagere Mathadhyakshar Sri Dr. Dhananjaya Swamy.
Aravind International School Chairman Ashoka M. K. will be a guest of honour and the switching of the system at the office will be done by Ex-MLA B B Ramaswamy Gowda. Proprietor of Milan Sports Pramod Shivanna will take the first subscription of the chit from the branch.
Gokulam Group of Companies Managing Director Baiju Gopalan said the company is looking at a bright future in the space of financial service during the coming financial year.
“India has become the 5th largest economy in the world and we can expect more opportunities going forward in the financial products and services industry. Our chit-fund products are availed by corporate / business houses, professionals, retail traders, small businessmen and others. The new branch inauguration at Kunigal shows our commitment to play actively in the growing Karnataka market,” said Gokulam Group of Companies Managing Director Baiju Gopalan.
Gokulam Group of Companies Managing Director Baiju Gopalan heads business verticals like chit funds, automobiles, health, education, hospitality and entertainment. Sree Gokulam Chit & Finance Co. Pvt. Ltd. (SGCF), the flagship company of the Gokulam Group of Companies, is in its 6th decade of service to the nation. The Chit and Finance business started modestly at Mylapore, Chennai on 23rd July 1968 by its founder Gokulam Gopalan.
Talking to TheNFAPost, Sree Gokulam Chits and Finance Karnataka Reginal Head Rajithkumar K P said the company has come up with aggressive strategies to expand in the Karnataka market.
“Karnataka state has lots of potential as it is one of the unique states supported by a growing ecosystem of small and medium business establishments. They are all looking at financial products and Sree Gokulam Chits and Finance knows it very well. Our branch works seamlessly with these sectors, both services and manufacturing verticals,” said Sree Gokulam Chits and Finance Karnataka Reginal Head Rajithkumar K P.
From traditional chit funds to innovative financial solutions, the company gained faith of customers across the country and currently offers services that fit the evolving financial goals and aspirations. The Gokulam Group operates in various fields like finance, education, media and retailing in South India.
Besides Karnataka and Tamil Nadu, Sree Gokulam Chits and Finance operates its branches in states like Kerala, Maharashtra, New Delhi, Andhra Pradesh, Telangana, Pondichery and Haryana. Sree Gokulam Chits and Finance started its operation under the visionary leadership of Gokulam Group Chairman AM Gopalan with one branch in 1968.
Sree Gokulam Chit & Finance Co Private Limited is an unlisted private company incorporated on 29 September 1975. It is classified as a private limited company with an authorised share capital of Rs 2 crore and a total paid-up capital of Rs 1.50 crore.
As per Tofler data, Sree Gokulam Chit & Finance Company’s operating revenues range is over Rs 500 crore for the financial year ending on 31 March 2022. It’s EBITDA has increased by 8.47% over the previous year. At the same time, its book net worth has increased by 9.63 %. The last reported AGM (Annual General Meeting) of Sree Gokulam Chit & Finance Co Private Limited was held on 30 September 2023.
The longest-serving directors currently on the board of Sree Gokulam Chit & Finance Company are Baiju Gopalan, Ambalathil Meethal Gopalan and Jalaja Gopalan who were appointed on 29 October, 1975. They have been on the board for more than 48 years. The most recently appointed director is Leelamma Thomas, who was appointed on 01 March 2021.
In addition to Sree Gokulam Cruise Lines and Resorts and Sree Gokulam Speed and Safe Courier Service, Gokulam Group now branched out into Gokulam Movies, Gokulam Motors and Sree Gokulam Gold & Diamonds. According to sources, Sree Gokulam Group of Companies is one of the leading business conglomerates in South India, with a turnover of nearly $2 billion. The group also employs over 10,000 people, both in India and abroad at its various ventures.
