Mumbai plays a vital role in India’s economy and is a significant contributor to the country’s GDP. The finance industry in Mumbai contributes to the GDP by generating revenue through various fees and charges associated with the services they provide. This revenue is then reinvested back into the economy, further fuelling growth and development.
Mumbai is considered the financial capital of India, and it is home to some of the largest and most influential finance companies in the country. There are many finance companies in Mumbai, India. Some of the top finance companies in Mumbai are:
Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited is a rural non-banking financial company headquartered in Mumbai. It is one of the biggest tractor financers in India. The company was incorporated on 01 January 1991 and has 1000+ offices across India.
| Operating Revenue | Over INR 500 cr |
| EBITDA | 46.75 % |
| Networth | 17.25 % |
| Debt/Equity Ratio | 5.04 |
| Return on Equity | 14.27 % |
The full name of ICICI Lombard is “ICICI Lombard General Insurance Company Limited” it is a general insurance company in India. It is engaged in general insurance, reinsurance, insurance claims management, and investment management. It offers general insurance coverage for motor, health, travel, home, and overseas students travel insurance, and more.
Popularly known as LIC housing; it is one of the largest housing finance mortgage loan companies in India. LIC housing was incorporated on 19 June, 1989, and its registered office is in Mumbai. LIC housing finance ltd is a subsidiary company of LIC. The company provides long-term financing to individuals for the purchase, repair and renovation or construction of houses or flats for residential purposes.
| Operating Revenue | Over INR 500 cr |
| EBITDA | -1.53 % |
| Networth | 12.80 % |
| Debt/Equity Ratio | 10.13 |
| Return on Equity | 13.32 % |
Motilal Oswal Financial Services Limited
Motilal Oswal Financial Services Limited is one of the leading financial services companies that offers wide range of financial services in India. The company was founded by Motilal Oswal and Raamdeo Agrawal in 1987. The main services of Motilal Oswal are retail broking & distribution, mutual funds, wealth management, home finance and more.
| Operating Revenue | Over INR 500 cr |
| EBITDA | 237.30 % |
| Networth | 27.76 % |
| Debt/Equity Ratio | 0.59 |
| Return on Equity | 20.17 % |
General Insurance Corporation of India Limited
General Insurance Corporation of India Limited, famously known as GIC. General insurance corporation of India is classified as a Government of India company, its registered office and headquarters in Mumbai. GIC was incorporated on 22 November 1972 under Companies Act, 1956. It offers reinsurance products and solutions to direct general insurance companies which includes fire, marine, motor, engineering, agriculture, aviation, space, health, liability, credit, financial, and life insurance.
HDFC ERGO General Insurance Company
HDFC ERGO general insurance company is commonly known as HDFC ERGO. It is a 51:49 joint venture firm between HDFC and ERGO International AG. The company offers a wide range of general insurance products in retail, corporate and rural sectors. The retail sector includes products like health insurance, travel insurance, vehicle insurance home insurance, personal accident insurance etc. For corporate sector; products like marine, and property insurance. For rural sector the main products are rainfall index insurance, Pradhan Mantri Fasal Bima Yojna etc.
Aditya Birla Sun Life Asset Management Company Ltd
Aditya Birla Sun Life Asset Management Company Ltd; popularly called as Aditya Birla Sun Life Asset. The company is It is a joint venture between the Aditya Birla Capital of India and the Sun Life Financial Inc. It is one of the very popular investment managing companies, registered under the Securities and Exchange Board of India.
| Operating Revenue | Over INR 500 cr |
| EBITDA | 28.96 % |
| Networth | 7.09 % |
| Debt/Equity Ratio | 0.00 |
| Return on Equity | 35.54 % |
Aegon Life Insurance Company; it was formerly known as Aegon Religare Life Insurance Company. It is one of the top finance companies in India. This Indian life insurance company was incorporated on 23 March, 2007 and has its headquarters in Mumbai, India. Aegon Life Insurance offers individual and group insurance though online and offline mode.
Reliance Capital Limited is one of the most popular finance companies in Mumbai. Reliance Capital is an Indian diversified financial service holding company which is managed & marketed by Reliance Anil Dhirubhai Ambani Group. The company was incorporated on 05 March, 1986. They offer a range of businesses in asset management, mutual funds, life insurance and general insurance, commercial finance, home finance, and wealth management services.
| Operating Revenue | Over INR 500 cr |
| EBITDA | 60.63 % |
| Networth | 3.41 % |
| Debt/Equity Ratio | 1.54 |
| Return on Equity | 5.84 % |
