Vijayawada, Sep 18 (UNI) Kanakadurga Finance Limited (KFL), a non-banking financial company, announced its "Mission 600", an ambitious Assets Under Management (AUM) target of Rs 600 crore by the end of the current financial year 2018-19.

Informing this at a press conference here on Tuesday, its Chairman and Managing Director S Lakshmi Narayana said that the Mission 600 mirrors the progression of KFL into a leading provider of customised financial solutions.

He said that they are ready to take on future challenges and move faster towards achieving the milestone of Rs.600 crore AUM by the end of the current fiscal.

The CMD said the KFL product portfolio including extending loans to two-wheelers, three-wheelers, commercial vehicles and gold loans. About 90 per cent of customer loans helping for generating employment, he claimed.

Stating that customers would continue to be their top most priority, he said that they are prepared for their next wave of growth with renewed passion and focus to achieve their goals.

Mr Lakshmi Narayana said presently the KFL has 100 branches in five states including Andhra Pradesh, Telangana, Karnataka, Gujarat and Tamil Nadu with 40,000 customers.

KFL Executive Director S Srimannarayana informed that at the end of the 2017-18 fiscal, the AUM stood at Rs.284.18 crore and with the Mission 600, they are actually looking at doubling it within a period of one year.

Senior Vice-president Deepak Hanumanthu also spoke.

UNI DP CS 1430