Manappuram Foundation, the CSR arm of Manappuram Finance Limited, will build 21 houses for the poor in Valapad panchayat in Thrissur district of Kerala. V.P. Nandakumar, MD & CEO of Manappuram Finance Ltd., announced that the project will soon be rolled out across all 140 constituencies of the state.
Kerala Higher Education Minister R Bindu on Tuesday laid the foundation stone for 21 homes. She commended Manappuram Foundation’s efforts led by its managing trustee V.P. Nandakumar and the project under which the houses will be built and handed over to 21 needy families in the panchayat. The minister added that such initiatives would inspire more people to come forward to help the homeless and become a part of building a new Kerala.
The project will cost Rs.1.30 crore. The construction work of the 460 sq. ft. houses will be completed soon. Manappuram Snehabhavan plaques were also handed over to the beneficiaries at the ceremony. Nattika MLA C. C. Mukundan and Manappuram Finance Senior PRO KM Asharaf were present at the event.
Manappuram Finance Ltd., one of India’s gold loan non-banking financial companies of India, is promoted by V.P. Nandakumar, the current MD and CEO. Its origins go back to 1949 when it was founded in the coastal village of Valapad, Thrissur, by his late father V.C. Padmanabhan. The firm was involved in pawnbroking and money lending. In 2009, the Manappuram Foundation was founded to implement the CSR vision of the company. Over the last decade, the foundation has initiated many worthwhile projects focused mainly on health and quality education for socially and economically deprived communities. Its flagship project is Janaraksha Manappuram Free Health Insurance Scheme, which was rolled out in 2010.