RK Group ventures into finance, to target affordable housing and small businesses

Rajasthan based RK Group(RK Marbles) has stepped into housing finance. Wonder Home Finance Limited(WHFL) is a subsidiary of the group that was launched recently.

With a plan to disburse a loan of about Rs 200 crore by March 2019, the company will initially put their money in affordable housing and small businesses.

Wonder Home Finance Limited

Sanjay Singh Rajawat, Director & CEO of WHFL, said, “By the end of financial year 2018-19, we expect to begin our services across neighboring States including Gujarat, Maharashtra and Madhya Pradesh.

Apart from Wonder Home Finance Limited(WHFL), the company has been in marble business under their brand RK Marbles. Set up in 1989, in Kishangarh, Rajasthan, the company deals in different types of natural stones. It operates in Dharmeta, Morwad, Dhariyawad, Banswara in the Rajasthan marble market and in Yên Bái province, Vietnam.

rk marbles factory

RK Marbles Factory

In March 2018, Chinese delegation led by Pham Thi Thanh Tra, Secretary of the Provincial Party Committee, and Chairwoman of the Yên Bái Provincial People’s Council also visited RK Marbles. The delegation also visited Morwad Mines for an outdoor inspection and a presentation on ‘Sustainable Working’. The company has been keeping a competitive Italian marble price in the national and international market.

Another factor worth noticing about RK Marbles are the two filtration plants that help recycle marble slurry from already used water. With a capacity of 1300 cubic meters per hour, these plants help the company do their bit for the environment.

Along with RK Marbles, the group also owns Wonder Cement. With its plant located in Nimbahera, District Chittorgarh, in Rajasthan, the company has a capacity to produce 6.75 million tons cement annually. Also, the company owns a 450 crore grinding unit in Maharashtra, which has a capacity of 2 million tons per year. The total yearly capacity of the company now stands at 8.75 MTPA.

wonder cement factory

Wonder Cement was also recognized as Asia’s Most Promising Brand at the 5th edition of UK Asia Business Summit 2018. With a network of about 1,000 Wonder Cement’s dealers, the group plans to use them to expand their finance business.

With a 100 crore investment in their kitty from the group’s promoters, Wonder Home Finance Limited(WHFL) plans to buy another Rs 100 crore from banks and financial institutions.

 
About Ritika Pathak (149 Articles)
Where there's a glass of hot chocolate fudge, a bag of Nachos, and the latest DC/Marvel, you'll find me cozied up. I am a geek, a nerd, a queen in her own might. Surrender now or prepare to fight!

3 Comments on RK Group ventures into finance, to target affordable housing and small businesses

  1. Good news for small business startups that Indian companies are taking part in such ventures where they are supporting low to medium class people to take loans through there finance ventures. As per RK group is one of the biggest player in marble industry mainly, as RK Marbles. They are going to start this new subsidiary Wonder Home Finance Limited, I hope this will really benefits such needy people.

     
  2. Its really a good news that RK Marbles viz RK Group is investing in Home financing company but the question is how easily one can get home or business loan. Its quite difficult with private companies also their rate of interets are also very high. This is my experience with other finance company. Not so happy

     
  3. Radhe Vaish // October 5, 2018 at 6:45 am // Reply

    Affordable housing plan by Government of India is appears to be very beneficial for the citizens but still we face certain issues while planing to buy a house or property. Thankx to some private firms that provide easy finance process and clarity to the process. We need more such companies like Wonder Home Finance Limited so that process becomes easier.

     

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