Peerless Smart Financial Solutions- Overview
Peerless Smart Financial Solutions was incorporated during 1932 as The Peerless Insurance Co Ltd. It was one of the top Indian insurance companies of that time and is presently known as The Peerless General Finance & Investment Co Ltd.
Peerless Industry Position
At present Peerless is one of the top organizations when it comes to investments and savings related products and services. It is also the biggest Registered Residuary Non-banking Company (RNBC). Its basic area of expertise is generating savings from the absolutely basic levels of the economic strata.
Peerless operates all around India and tries consistently to come up with products and services that are capable of catering to the requirements of consumers and these factors have helped the organization build up its brand identity.
Peerless SubsidiariesThe subsidiaries of Peerless may be mentioned as below:
- Peerless Hospitex Hospital & Research Center Limited
- Kaizen Leisure & Holidays Pvt Ltd
- Peerless Group of Hospitals - Bichitra, Lahari, Aaheli, Dr. Ego, and Nishidin
- Peerless Developers Limited
- Peerless Securities Ltd
- Social Services - Polyclinics, and Peerless Diagnostic & Child Guidance Centre
- Bengal Peerless Housing Development Co. Ltd - Sonar Taree Housing Complex, Animikha Housing Complex, Axis Multi-complex, Avishikta Housing Complex, Alaktika Housing Complex, Aahirini Neighbourhood Centre, and Avishar Commercial Complex
- Old age Home - Milan Tirtha
Peerless Brand ImageOver the years, Peerless has built up its brand as a personal financial products and services provider, which caters to the interest of the common consumers and makes sure that the customers are paid at the proper time when their investments mature.
In addition to its India wide operations, PGFI is equipped with competent technology and employs Smart Guides to carry out its relationship marketing operations. At present the organization has 50 thousand Smart Guides. It also operates the Smart Rojgar program that enables people to earn by themselves.
Peerless also provides services at the doorsteps of the millions of its customers and believes in providing them proper levels of security that helps them earn their trust and confidence.
One of the major objectives of the organization has always been to provide its certificate owners a secure platform where they can put in their savings and also make sure that whatever they earn is reasonable enough.
Peerless Investment PolicyAt present the organization has invested more than 100 percent of the funds invested by the depositors have been put in government securities as well as similarly approved media of investment. This is one of the many ways in which Peerless has tried to make a contribution to the cause of India.
In the last couple of years the organization has been able to grow in a regular and unflustered manner.
The following dignitaries make up the management team at Peerless:
|Jayanta Roy||Director (Financial Products Distribution)|
|SK Roy||Managing Director|
|Pranab Kumar Choudhury||Director|
|B Lahiri||Director (Operations)|
Peerless Financial Details
The following table reflects the growth achieved by the organization in 2011-12 compared to the 2010-11 fiscal:
|Domain||2010-11 figures||2002-03 figures|
|Net worth (in INR crores)||1320||225|
|Cumulative maturity payments||18711||5845|
|Capital adequacy ration||113.74%||14.78%|
The monthly deposit plan of Peerless is known as T 86. It provides guaranteed returns in addition to cent percent protection of capital. The recurring deposit has a term period of 13 months and the minimum deposit amount required in this plan is INR 700 per month that is provided in multiples of 100. It offers a daily deposit as well.
Peerless General Finance & Investment Company (PGFI) has recently come out with its mutual fund business that will be handled by Peerless Funds Management Company Ltd. (PFMCL). PFMCL will be a completely owned subsidiary of Peerless.
PFMCL has introduced several products such as ultra short term and liquid funds that have been designed keeping in mind the institutional clients, and savings funds that are supposed to deal with the requirements of the retail customers.
The Managing Director of PFI, SK Roy, has stated that PGFI is the first organization in eastern India whose asset management firm has met with the approval of the Securities and Exchange Board of India (SEBI).
Peerless Office Network
Peerless has a pan Indian network with 147 branch offices and 8 regional offices. Its office locations may be enumerated as below:
Eastern Region I: Kolkata, Durgapur, Arambag, Habra, Asansol, Haldia, Bankura, Howrah, Barasat, Krishnanagar, Barrackpore, Muzaffarpur, Basirhat, Patna, Berhampore, Ranaghat, Bhagalpur, Serampore, Bongaon, Sonarpur, Chinsurah, Suri, Contai, Tamluk, Diamond Harbour, and Kalna
Eastern Region II: Jamshedpur, Cuttack, Balasore, Ghatal, Berhampore, Midnapore, Bhubaneswar, Rourkela, Bhadrak, and Puri
North Eastern Region: Guwahati, Jalpaiguri, Agartala, Jorhat, Alipurduar, Katihar, Birpara, Malda, Bishalgarh, Nagaon, Balurghat, Raiganj, Coochbehar, Silchar, Dharmanagar, Siliguri, Dhubri, Tezpur, Dinhata, Tinsukia, Islampur, and Udaipur
Northern Region: New Delhi, Hoshiarpur, Agra, Jaipur, Allahabad, Jalandhar, Amritsar, Jammu, Ballia, Jodhpur, Bareilly, Kanpur, Chandigarh, Kurukshetra, Dehradun, Lucknow, Faridabad, Ludhiana, Ghaziabad, Meerut, Gorakhpur, Patiala, Gwalior, Sikar, Gurgaon, Srinagar, Hissar, and Varanasi
Western Region: Mumbai, Bhopal, Aurangabad, Baroda, Jalgaon, Indore, Margao, Jabalpur, Nagpur, Mehsana, Nasik, Rajkot, Panaji, Surat, Pune, Udaipur, Thane, Raipur, and Ahmedabad
Southern Region I: Chennai, Ernakulam, Andaman, Kollam, Salem, Kannur, Trichy, Kottayam, Thiruvannamalai, Madurai, Alleppy, Thrissur, Calicut, Trivandrum, and Coimbatore
Southern Region II: Bangaluru, Mangalore, Chintamoni, Mysore, Hassan, Tumkur, Hubli, and Halasuru
South Central Region: Hyderabad, Khammam, Ananthapur, Nellore, Cuddapah, Rajamundry, Guntur, Vizag, Karimnagar, and Vijayawada
As is evident from above, majority of its operations is centered around Eastern India, especially Bengal.
Peerless Contact Details
Following are the contact details of Peerless' corporate office:
3, Esplanade East
Kolkata- 700 069
Telephone number: (033) 2248 3247 / 3001, (033) 2220 3740
Fax: (033) 2248 5197
13 A Dacres lane
Kolkata- 700 069
Telephone number: (033) 2248 8996 / 1103
1 Chowringhee Square, 4th floor
Kolkata- 700 069
Telephone number: (033) 2248 9353 / 9682
Fax: (033) 2248 9701
1 Chowringhee Square 1st floor
Kolkata- 700 069
Telephone number: (033) 2242 8317 / 8318 / 8319
Fax: (033) 2242 0118
Last Updated on 09/19/2012
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