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The Muthoot Group is an 125-year-old business house based in India.^[2] It has interests in Financial Services, Information Technology, Media, Healthcare, Education, Power Generation, Infrastructure, Plantations, Precious Metals and Hospitality. The Muthoot Group operates in 23 states in India, and has a customer base of over 25 million.^[3] It is wholly owned and managed by the Muthoot Family.

The Group takes its name from the Muthoot Family based in Kerala. The Company was set up by Muthoot Ninan Mathai in 1887 at Kozhencherry, a small town in the erstwhile Kingdom of Travancore (Kerala). It was then later taken over by his son M George Muthoot who incorporated the Finance division of the group which was until then primarily involved in wholesale of grains and timber. The company is now managed by the third and fourth generation of its family members.

The group is headquartered in Kochi, Kerala

Finance[link]

The origins of Muthoot Finance can be traced back to 1939 when [M.George Muthoot] ventured into financial services through a partnership firm under the name of Muthoot M. George & Brothers (MMG). MMG was a Chit Fund based out of Kozhencherry. In 1971, the firm was renamed as Muthoot Bankers, and had begun to finance loans using gold jewellery as collateral. The operations of Muthoot Bankers was then renamed and incorporated as Muthoot Finance in 2001. Muthoot Finance falls under the category of Systematically Important Non Banking Financial Company (NBFCs) of the RBI guidelines. The company has more than 3,510 branches spread across 23 states of the country and is the largest gold loan company in India.^[1]. Muthoot Finance, according to the IMaCS Research & Analytics Industry Reports [Gold Loans Market in India, 2009 (“IMaCS Industry Report 2009”) and the 2010 update to the IMaCS IndustryReport 2009 (“IMaCS Industry Report (2010 Update)”)], is the largest Gold Loan NBFC and has the largest network of branches for a Gold Loan NBFC in India.^[4]. Muthoot Finance is also the highest credit rated Gold Loan company in India, with a credit rating of AA- (CRISIL) and LAA-(ICRA) for its Long Term Debts and P1+ (CRISIL) ^[5] & A1+ (ICRA) ^[6] for its Short Term Debt Instruments.

‘Muthoot Gold Power’ is the lifestyle product of Muthoot Finance aimed at mobilizing the Household gold in India which is estimated to be more than 15000 tonnes. Muthoot Finance according to its company website has "the largest gold loan portfolio in the country". Muthoot also provides various financial services such as Insurance distribution, Wealth Management, Foreign Exchange, Money Transfer and Vehicle & Asset Finance. Muthoot Finance was selected as one of the Top 10 Finance companies to work for in India by Naukri.com^[7] Muthoot Finance privately placed 4% of its paid up capital to Private Equity players - Barings India and Matrix Partners India for Rs.1.57 billion, hence valuing the earlier privately held company at over $1 billion.^[8]

In terms of market capitalisation, Muthoot Finance is the second largest company in Kerala, first being Federal Bank.

Information technology[link]

Emsyne, the information technology wing of the group develops products for the service, education and healthcare industry. Emsyne offers on site and offshore services, whether project-based outsourcing / assignments, or based on time and materials. The Core Products of Emsyne are Edge - Educational Institutions Management System Finex - Innovative Banking Automation System

Precious Metals[link]

Muthoot Precious Metals Corporation (MPMC) is one of the Group companies of Muthoot Group, selling Coins & Bars of 999 Pure 24 Carat gold and silver across India through the outlets of Muthoot Finance.

MPMC is importing gold bullions from Switzerland and converts them into gold coins of smaller denominations so as to suit the investment requirements of people from different income groups. The coins are sold through more than 3400 outlets of Muthoot Finance Ltd. MPMC is one of the leading sellers of Gold Coins in retail market. Gold Coins/Bars are sold in denominations of 0.5, 1, 2, 4, 8, 10, 20 and 50grams denominations. MPMC has silver coins in 20, 50 & 100grams denominations. Coins are marketed in attractive blister packing’s with Muthoot’s certificate of Purity and MPMCight.

MPMC has the gold & silver coins imprinted with the images of deities and monuments such as Goddess lakshmi, Lord Ganesha, Lord Ayyappa, Lord Sri Venkateswara (Balaji), Our lady of Velankanni, St. Alphonsa, St. Gregorious, Lord Sri Padmanabha, Golden Temple, Chatrapathy Sivaji, Mary Matha, St.George and Normal Coins etc..

From January 2012 MPMC is expanding its horizons, from a Trading company to a gold Investment Company.

Securities[link]

Media[link]

Chennai Live 104.8 is India's first talk radio FM station. The station would be focusing on knowledge centric and local content and will be targeting the information and entertainment needs of Chennai's intelligent community.^[9]

Healthcare[link]

The Group operates several Diagnostic & Scan centers throughout Kerala and 2 multi-specialty hospitals in Kozhencherry and Pathanamthitta.^{[citation needed]}

Hotels & hospitality[link]

Muthoot Hotels operates a 4 star resort in Thekkady (Kerala)^[10] and also operates 12 houseboats in the backwaters of Kerala under the brand Muthoot River Escapes.^[11]
Kaapi Club is a chain of South Indian coffee outlets managed by Muthoot Hotels.^[12] Muthoot Hotels is in the process of constructing a 5 star luxury hotel in the city of Kochi and 5 star beach resort in Mararikulam.^[13]

Housing & infrastructure[link]

The projects of Muthoot Builders are primarily situated in central and south Kerala, Muthoot has a track record of more than 30 completed projects including commercial and residential spaces.^[14]

Other divisions[link]

Muthoot has interests in Power Generation through windmill farms in the state of Tamil Nadu. The group also manages a school in New Delhi^[15] and 2 Nursing Colleges in Kerala. In the year 2008 the group re-entered the plantation business, the group has acquired 1000 acres of land in Sawantvadi, Maharashtra as a pilot planting of rubber.

Philanthropy[link]

Muthoot M George Charity Foundation Set up in memory of the Late M. George Muthoot, the Foundation has been extending financial aid for its employees as part of the Staff Welfare measures. Every branch of The Muthoot Group is actively involved in Community Development and Social Welfare. The Muthoot Foundation frequently grants medical and financial aid to deserving individuals through its welfare programs. Community support is a corporate responsibility. The Muthoot Group maintains its position as a valued and responsible corporate citizen by enhancing the quality of life in the communities where they do business. It is very important for a corporate to support the community in which it operates. The Muthoot M. George Charitable Foundation is approached by numerous organizations and individuals requesting financial and medical assistance.
Muthoot Medical Centers at Kozhencherry and Pathanamthitta are super specialty hospitals set up in the rural areas of Kozhencherry and Pathanamthitta. They are both organizations established in 1989.

Environment research foundation[link]

The Periyar Foundation set up by Muthoot Hotels is based in the town of Thekkady, near the Periyar National Park has undertaken several projects for the conservation of the national park including 'vasantha sena' ^[16] and a research study along with the National Institute of Advance Studies for the conservation of 'Nocturnal Flying Squirrels'.

See also[link]

• Muthoot Family
• M George Muthoot
• M G George Muthoot
• George Alexander Muthoot

References[link]

This biographical article needs additional citations for verification. Please help by adding reliable sources. Contentious material about living persons that is unsourced or poorly sourced must be removed immediately, especially if potentially libelous or harmful. (July 2011)

George Alexander Muthoot (September 16, 1955 - ) is an Indian entrepreneur and businessman, he is currently the Managing Director of the Muthoot Group, a business conglomerate in India.^[2] He was born to a Syrian Christian family in Kozhencherry, Kerala, India. George, along with his brothers manage the Muthoot Group of companies.

Personal life[link]

George Alexander Muthoot was born to M George Muthoot and Ammini George Muthoot on 16 September 1954 in Kozhencherry, a small town in South Kerala. M George Muthoot managed the family business, of Chit funds, in Kozhencherry. He did his Bachelors in commerce from St. Thomas College, Kozhencherry (University of Kerala), and was awarded a gold medal for obtaining the first rank in the state for the degree. He is also a Chartered Accountant certified by the ICAI, and secured All India Rank 18 for his final examinations. In 2007 George was awarded his PhD in “Non-Traditional Banking with special reference to Gold” by the Open International University, Colombo.^[3] George's favorite pastimes are to read books, primarily fiction, and play badminton. George is married to Anna Alexander, and has two sons George Muthoot Alexander and Eapen Alexander.

Business career[link]

George Alexander Muthoot became the Managing Director of the Muthoot Group, in February 1993. The conglomerate since has grown exponentially, and now has an annual turnover of Rs.14,500 crores (rupees 145 Billion) ^[4] (as of May 2009). The group has various interests in sectors such as financial services, plantations, media, hospitality, healthcare, education, power generation, infrastructure and foreign exchange.

India Today, a weekly magazine, ranked George as one of the most influential people in the State of Kerala in the year 2005. Asianet, an Indian television channel, selected George as one of the Millennium leaders in 2000. Dhanam, a fortnightly magazine in India, ranked Muthoot as one of the most important business families in Kerala. ^[5]

See also[link]

• Muthoot Family
• Muthoot Group
• M George Muthoot
• M G George Muthoot

References[link]