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Bhubaneswar, Jan 23: Leading brokerage Zerodha expressed hope of sustaining 239 per cent growth in the state. The company currently has a client base of 13,000 with one partner office and a branch office in the state.
“We hope to reach a client base of 3 million across the country by 2020, which will be on the back of some new products that are expected to be launched over the next two years. As on date, we have crossed 6 lakh customers base and are hopeful of meeting the target,” Karthik Rangappa, Vice President of Zerodha, said at a media interaction here.
Twin Cities Bhubaneswar and Cuttack are the potential markets for us; the company in Bhubaneswar alone has witnessed 304 per cent growth, Rangappa said.
The official said Zerodha has seen sound growth that has led them to cross the 6 lakh client base. Till date in the current fiscal the company has grown by 204 per cent, he added.
Rangappa quoted Nithin Kamath, the Founder and CEO of the company, on the expected prospects: “2017 was quite a year for us as a business. We became the largest retail broker in India with turnover in all exchanges and segments, biggest in India by monthly new client additions and largest standalone direct mutual fund platform in Coin.
With our technology team taking the lead, we have many new products in the pipeline for launch in the next quarter. I hope that with new offerings we will continue to excite our existing and new clients and will be able to grow much faster this financial year.”
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