Credifin Limited, a non-banking financial company (NBFC) listed on the Metropolitan Stock Exchange of India, has announced its entry into Gujarat, marking the state as its 14th operational market. The company, formerly known as PHF Leasing Limited, plans to commence operations in August 2025, initially launching services in five key cities: Ahmedabad, Gandhinagar, Rajkot, Surat, and Vadodara.
Headquartered in Jalandhar with its corporate office in Delhi-NCR, Credifin Limited has been registered with the Reserve Bank of India since 1998. The company specializes in secured lending, offering mortgage loans against immovable property (LAP) and financing for electric vehicles (EVs), particularly e-rickshaws, e-loaders, and electric two-wheelers.
With its expansion into Gujarat, Credifin aims to provide comprehensive financing solutions across its EV portfolio. The move aligns with the company’s broader focus on supporting the adoption of electric mobility in logistics, last-mile delivery, and urban and rural transportation sectors.
According to Shalya Gupta, Chief Executive Officer of Credifin Limited, “Gujarat offers a strategic opportunity to strengthen our presence in the EV financing space. We intend to collaborate with local dealerships, original equipment manufacturers (OEMs), and fintech partners to deliver integrated financial solutions. Our goal is to establish operations across all major cities in Gujarat by the end of FY 2026-27.”
The company plans to start with a team of 30 to 40 employees in the state, with projections to scale up to around 100 staff members within the next year. This expansion is expected to bolster local dealer networks and support the state’s transition toward sustainable transportation.
Credifin currently operates in over 200 locations across 14 states and union territories and employs more than 750 people. As of the financial year 2024–25, the company reported an asset under management (AUM) of Rs. 350.77 crore.
Established in 1992, Credifin Limited continues to focus on secured lending products tailored for MSMEs and the growing EV ecosystem. The Gujarat launch underscores its commitment to expanding access to green mobility financing in emerging markets across India.