New Delhi, April 26, 2023: Choice International Limited, a prominent financial services provider listed on NSE and BSE in India, through its subsidiaries herein referred to as “Choice Group” has announced its plans to expand its operations in North India by launching 10 new locations in the first half of FY 23-24. The company is dedicated to strengthening its presence in the region and providing exceptional financial services to its customers.
The new branch locations are Delhi NSP, Delhi Rajendra Place, Delhi Connaught Place, Noida, Faridabad, Gurugram, Lucknow, Chandigarh, Ambala, and Panipat.
Commenting on the launch of these branches, Mr Kamal Poddar- Managing Director of Choice International said, “Our expansion in North India is a strategic move for us, we feel there is an immense potential for growth and demand for financial services in these cities and towns, and we see this expansion as a key growth driver for our business. Our innovative financial solutions are aimed at meeting the evolving needs of customers in the region and building financial awareness about investing in the stock market and mutual funds, rather than falling prey to Ponzi schemes. With the launch of our new locations, we aim to contribute to the development of these markets and establish a strong presence in the region. We are committed to investing in the talent and resources necessary to achieve this goal, and we look forward to working with our customers and partners to make this expansion a success.”
To support these new locations, the group plans to hire 250 employees for broking, mutual funds, and insurance, in addition to the existing 150-member team in Delhi and NCR. In the coming 1-2 quarters, Choice Group plans to open ten more branches, including Dehradun, Kanpur, Allahabad (Prayagraj), Saharanpur, Ludhiana, Jalandhar, Jammu, Amritsar, Shimla, and Bareilly. Overall, the company aims to have 500 employees in North India, including those in the upcoming branches for broking and distribution.
Choice Group has a strong commitment to providing innovative and comprehensive financial services to its customers. As part of this commitment, the company is also expanding its subsidiary, Choice Finserv Private Limited (CFPL), which started its retail lending from July 2022 with use of latest technology as support for the lending. CFPL presently offers loans for MSME Business Loans, Wheels, and Supply Chain Finance. During 2023-24, loans for solar financing will be extended to customers.
This expansion in North India follows Choice Group’s recent expansion in the state of Madhya Pradesh, where the company aims to set up offices in every district within the next two years. Choice Group has a strong reputation in the market in the major verticals like Equity Broking, NBFC, Insurance, and Government Advisory, and with its expansion in Rajasthan and Bhopal, the group has established a strong presence in the region.