Set up in 1930, the MGF Group was initially managed by its Board of Directors under the astute leadership of Shri Ved Prakash Gupta, the Founder Chairman of the Company. A doyen of automobile financing in India, particularly of the hire-purchase mode, he was instrumental in turning MGF into one of India’s leading, non-banking finance companies (NBFCs).
An active member of the Dhotre and Shah Committees constituted by the Reserve Bank of India, Shri Ved Gupta’s vast experience and farsightedness helped lay the rules and regulations for NBFCs in India. His belief that even the common man can become self-reliant, contributed immensely to making thousands of families benefit themselves, directly or indirectly.
MGF Developments Ltd was the group’s foray into realestate development, commencing operations in India in 1997. Today, it has a pan-India presence with operations spanning all key segments of the Indian real estate industry – namely, the residential, commercial, retail and hospitality sectors. In 2005, the MGF Group - through MGF Developments Ltd - entered into a Joint Venture with Dubai-based Emaar Properties PJSC, forming in effect the largest FDI real-estate company in India. Over the next decade, we developed some of the finest residential, commercial and retail projects across the country under the brand name of Emaar MGF, winning many accolades in the process.
Following the MGF Group’s demerger with Emaar MGF in 2017, MGF Developments Ltd now has operations encompassing the various aspects of real-estate development - from land identification and acquisition, project planning and designing to marketing and execution. At present, we are focused on developing a host of residential projects in Delhi-NCR, and key state capitals of India, apart from seeking new avenues for growth and development in our core domain areas.
MGF Group Founded - Pioneer in automobile finance in India – delivered India first truck on hire-purchase