Muthoot – Driving business growth

Muthoot
Driving business growth
CLIENT
Muthoot Pappachan Group

INDUSTRY
Retail non-banking financial services and allied sectors

CONTEXT
The Muthoot Pappachan Group is a diversified conglomerate with interests in gold loans, housing finance, micro-finance, automotive finance and precious metals. It is best known for organizing and formalizing the gold loan industry. Under the chairmanship of Thomas John Muthoot, the group has seen exponential growth in recent years.
Its flagship gold loan business – Muthoot Fincorp, grew to over 3600 branches across India. This presented a unique opportunity for the group’s other businesses – to leverage Fincorp’s reach and cross-sell their products to a vast customer base. These distinct businesses learnt to work cohesively together, and utilized this cross-selling opportunity, while ensuring existing revenue streams remain unharmed.

WHAT WE DID
enParadigm leveraged a simulation based intervention to galvanize managers to become more entrepreneurial, leverage a great branch network and mature as business heads.

IMPACT
“We were able to put in place the systems to cross-sell our housing finance and precious metal companies’ products through the vast network of 3600 branches of our flagship company, Muthoot Fincorp. Sales have increased by up to 2.5 times for the other group companies due to this.”
“We have mapped each of our branches to over 10 Muthoot Fincorp branches to use their catchment and drive our housing loans. Our sales have gone up by about 2.5 times.”

enParadigm