The Muthoot Group is a business house based in India. It has interests in Financial Services, Information Technology, Media, Healthcare, Education, Power Generation, Infrastructure, Plantations, Precious metal, Tourism, and Hospitality. The Muthoot Group operates in 25 states in India, and has presence in USA, UK and UAE. It is owned and managed by the Muthoot Family.
The Group takes its name from the Muthoot Family based in Kerala. The Company was set up by Muthoot Ninan Mathai in 1887 at Kozhencherry, a small town in the erstwhile Kingdom of Travancore (Kerala). It was then later taken over by his son M George Muthoot who incorporated the Finance division of the group which was until then primarily involved in wholesale of grains and timber. The company is now managed by the third and fourth generation of its family members.
The group is headquartered in Kochi, Kerala. The Group manages assets of over USD4 Billion.
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Retail Gold Banking
Muthoot Finance: Established in the year 1939 when M. George Muthoot ventured into financial services through a partnership firm under the name of Muthoot M. George & Brothers (MMG). MMG was a Chit Fund based out of Kozhencherry. In 1971, the firm was renamed as Muthoot Bankers, and had begun to finance loans using gold jewellery as collateral. In 2001, the company was renamed once again and came to be known as Muthoot Finance. Muthoot Finance falls under the category of Systematically Important Non-banking financial company(NBFC) of the RBI guidelines.
The company has more than 4,250 branches spread across 23 states of India. Muthoot Finance, according to the IMaCS Research & Analytics Industry Reports [Gold Loans Market in India, 2009 and the 2010 update to the IMaCS Industry Report 2009], is the largest Gold Loan NBFC and has the largest network of branches for a Gold Loan NBFC in India. Muthoot Finance is also the highest credit rated Gold Loan company in India, with a credit rating of AA- (CRISIL) and LAA-(ICRA) for its Long Term Debts and P1+ (CRISIL) & A1+ (ICRA) for its Short Term Debt Instruments.
Muthoot Finance has played an instrumental role in organizing and professionalizing gold collateralized loans in India, a concept which emphasizes mobilising household Gold jewelry as an additional channel of credit to borrowers. The total gold holdings among individuals is estimated to be more than 20000 tonnes,. In the year 2010, Muthoot Finance privately placed 4% of its paid up capital to Private Equity - Barings Bank and Matrix Partners for Rs. 1.57 billion,. Later in the year 2011, Muthoot Finance publicly listed its shares on the two biggest stock exchanges in India National Stock Exchange of India and Bombay Stock Exchange. In terms of market capitalisation, Muthoot Finance Ltd is the second largest company in Kerala, first being Federal Bank.
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Equipment Finance
Incorporated in 1992, Muthoot Vehicle & Asset Finance is a public company engaged in providing vehicle loans. The company operates primarily in South India. The Reserve Bank of India classifies it as a Deposit taking Asset Finance Company.
Other Financial Products
The securities brokerage business of the group is undertaken through the subsidiary Muthoot Securities. It operates over 65 business centres in Kerala, Tamil Nadu, Andhra Pradesh and Karnataka. The company offers Equity & Currency trading, Online trading, Portfolio Management Services, Depository services, Mutual funds, PAN card services and Market Research. Muthoot Precious Metals Corporation (MPMC) was established in May 2006, the company sells coins & bars of 999 Pure 24 Carat gold and silver throughout India. They carry out the sales of these bars and coins through more than 4250 branches of Muthoot Finance. MPMC imports gold bullion from Switzerland and converts them into gold coins of smaller denominations so as to suit the investment requirements of people from different income groups. The group provides wire transfer services through the branch network of Muthoot Finance since 2002. As of December 2012, there are 7 inward remittances that Muthoot Finance offers Western Union, Xpress Money, Instant Cash, Ez Remit, Transfast, MoneyGram, Global Money.
Information Technology
Muthoot Systems and Technologies Pvt Ltd operating under the brand Emsyne, is the Information technology arm of the Muthoot Group, is headquartered in Cochin. The company has been operating for over the past 14 years in the IT sector. Their client list includes US companies such as ARC group, PA, Court Port LLC, SVM, JAL International. The company was established in 1993. It offers Information Technology services, Product Engineering Solutions, Business Process Outsourcing Services and Consultancy Services to local as well as Global clients. The company has recently started its operations in US with a subsidiary in Philadelphia region. Expansion into other regions of the US and The Middle East is planned.
Travel and Hospitality
Travel Jango the travel division of group. It was known as Travel Smart. Now they upgraded their air ticketing platform by using latest galileo global certified solution from |Transcape Technologies -a subsidiary company of |Saturn systemwares at technopark,Thiruvananthapuram. The services offered by this division include international and domestic air ticketing,tour, passport, emigration & visa, travel desk, travel insurance, bus ticketing and foreign exchange.Now Travel jango is the India's largest travel service provider with 4300+ sales counters across India through,and its growing through its franchisee(B2B) network.
Media
Muthoot Group operates Chennai Live 104.8 Fm that focuses on the growing demand for urban English music. Established in 2006, Chennai Live is the first talk radio station in India and is the leading English radio channel in Chennai.
Healthcare
The Muthoot Pappachan Group entered the healthcare arena with Muthoot LifeBrigade specialty Hospital and Orthopaedic Centre in Kottayam, Kerala. The hospital specializes in orthopaedic treatment and has a Diabetes centre. Supporting departments are General Medicine, General Surgery, Paediatrics, Dentistry and ENT.
Hotels & Travel Services
The Group manages 4 luxury hotels under the brand name of Xandari. In addition the group also operates Pampa Villa and Kayal Villa two boutique hotels in Kerala, as well as 12 Kettuvallam's in Kerala which operate under the brand 'Muthoot River Escapes'. Muthoot Hotels runs a chain of South Indian coffee outlets as well. Muthoot River Escapes has been given a five star rating by Trip Advisor. All of these combined are referred to as Raxa Collective.
Under the brand name of Xandari, the group operates 4 luxury hotels in Thekkady, Marari Beach, Fort Kochi and Alajuela - Costa Rica
The group provides travel services through the brand Travel Jango (earlier known as Travel Smart). Travel Jango provides Flight and hotel booking services
Housing & Infrastructure
Muthoot Housing & Infrastructure, formerly known as Muthoot Builders, was established in the year 1990. The infrastructure division has residential and commercial projects in South India.
Education
St George's School, New Delhi: The Muthoot Group runs St. George's School, a non-profit initiative, located at the Alaknanda colony in New Delhi. It was founded in 1930. As of December 2012, the school has a staff strength of 130 teachers and student strength over 3000. Paul George Global School, New Delhi: Commenced operations in the year 2015. The school is recognized by the Central Board of Secondary Education Muthoot College of Allied Health Sciences, Kozhencherry: The institute was established in 2004 and offers major health courses like MLT, MIT etc. Muthoot Institute of Science & Technology, Kochi: Commenced its first academic year in 2013. The institute offers courses in all streams of engineering under the Dr. A P J Abdul Kalam Technological University.
Alternate Energy
Muthoot Alternate Energy Resources:
The group formed a dedicated venture - Muthoot Alternate Energy Resources and started a Wind Energy Project in 1993 with wind farms located in Muppandhal village in Kanyakumari district, Tamil Nadu.
Wealth Management Services
This division of the Group is associated with an array of insurance solutions ranging from life insurance to medical, ULIPs, etc. It was established in 2002. All operations are now run under the name of Muthoot Insurance Brokers Pvt. Ltd.
Plantations
The Muthoot Group operates this division on a large scale. Established in 1939, The plantations grow cardamom, tea, coconut and rubber. The division also undertakes a number of eco-friendly initiatives.
Operations outside India
Muthoot Global is a part of Muthoot Group with presence in UAE, USA and UK, currently dealing in Gold Loans, Money Transfer, Travel & Tourism and eCommerce. UAE operations commenced in the year 2002, UK operations started in 2007 and USA in 2010. The Group plans to diversify its foreign operations to Singapore, Germany and other GCC countries in future.
- Royal Exchange USA Inc is based out of New Jersey, USA. The company offers wire transfer services between USA and India.
- Muthoot Finance UK is based out of London, UK. It currently operates 6 branches within the Greater London area, and primarily provides financial services to the South Asian community.
- Muthoot Global Money Transfers is based out of London, UK. The company provides wire transfer services between UK and India.
- Xandari Resort & Spa is located in Alajuela, Costa Rica. It is a luxury hotel located within a 30-acre plantation 30 minutes of San José, Costa Rica
- Asia Asset Finance is headquartered in Colombo, Sri Lanka. Muthoot Group acquired a majority stake in the company in 2012. Asia Asset Finance is engaged in equipment finance and gold loans.
Philanthropy
The Muthoot Group's corporate social responsibility efforts are directed towards proper sanitation, education, welfare of the lower income Group of the nation, health and technology and environmental awareness and conservation. The Muthoot Group's Charitable actions/events are all conducted by the Muthoot M George Foundation.
Environment research foundation
The Periyar Foundation set up by Muthoot Hotels is based in the town of Thekkady, near the Periyar National Park has undertaken several projects for the conservation of the national park including 'vasantha sena' and a research study along with the National Institute of Advance Studies for the conservation of 'Nocturnal Flying Squirrels'.
Source of the article : Wikipedia
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