Press Release for Launch of new Financial Product i.e , Consumer Durable Loan, pursuant to Regulation 30 of SEBI Listing Regulations
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Comfort Fincap Limited, a BSE-listed NBFC, has launched 'Easy Mobile Financing' - a consumer durable loan product enabling customers to purchase smartphones through a fully digital, 5-minute approval process. The product is being rolled out initially in Gujarat and Rajasthan, targeting point-of-sale financing at mobile retail merchants. This marks CFL's strategic entry into retail consumer lending, expanding from its traditional B2B focus (Promoter Funding, Loan against Shares, Supply Chain Financing). The company highlights India's smartphone market of 150-170 million units annually with a total addressable market of approximately 2.0-2.5 lakh crore per year as the opportunity.
This launch signals CFL's diversification into the high-volume retail lending segment, potentially expanding its addressable market significantly. While initial rollout is limited to two states, successful execution could drive future revenue growth from a previously untapped customer base.