Cooperative societies have long been an important source of financial support for ordinary people. However, the Chennai-based Bharath Lajhna Multistate Housing Cooperative Society has moved beyond conventional lending by creating a broader ecosystem of housing projects, investments and services aimed at improving the lives of its members.
Established in 2006, BLM Society has grown into a multi-state cooperative institution with more than 150 branches and over 15 lakh members across Kerala, Tamil Nadu and Puducherry. The organisation’s growth has been driven by the vision and leadership of Malayali entrepreneur R. Premkumar.
BLM Society was started in Chennai with the objective of providing easier access to loans for people facing financial challenges. During its initial years, growth was gradual, with only four branches even after a decade of operations.
However, the trust built among members and a structured business approach helped the society expand rapidly. Today, BLM has more than 100 branches in Kerala alone and has set a target of increasing its network to over 500 branches by 2030 across the three states.
Housing remains one of the key focus areas of BLM Society. The organisation develops villas, apartments and independent houses by identifying suitable locations and understanding the requirements of its members.
The society also operates its own cement manufacturing units under the brands Eurotech Cement and Vishnuchakra Cement. The factories, located at Uthukottai in Andhra Pradesh and Kanjikode in Kerala, help reduce construction costs and support price stability, according to Premkumar.
Unlike traditional institutions that provide fixed interest on deposits, BLM follows a model where members’ investments are deployed into profitable projects and returns are shared through dividends.
Premkumar said the society has been providing maturity benefits and dividends to investors every month without interruption since 2011.
BLM has developed 23 associate institutions and diversified business ventures to strengthen its financial base. The society owns thousands of acres of land and more than 20 major properties across Kerala, Tamil Nadu and Puducherry.
Its investments include properties such as Krishnagiri Estate in Kasaragod, two major IT projects at Infopark, Kakkanad, and the well-known Ragam Theatre property in Thrissur.
BLM is expanding its presence beyond finance and housing. The society is preparing to develop Srivatsam Hospital in Edappal into a larger healthcare institution with nursing and paramedical education facilities.
The society also plans to establish schools and hospitals in different districts to provide affordable services to members. It currently operates educational institutions, including an arts and science college and schools in Kannur.
BLM has also entered sectors such as transportation, hospitality and agriculture-related businesses. Through BLM VBM Travels, more than 200 sleeper buses operate across South Indian cities. The group also operates hospitality ventures including Vibe Munnar Hotel and Resort.
Tthrough its Abhaya Project, BLM is constructing houses for deserving families identified by district collectors across Kerala’s 14 districts. The society has also supported individuals facing financial difficulties, including helping recover the house of national volleyball player Bhumika from Paravur, which was under foreclosure risk.
BLM is planning to launch jewellery outlets in Kozhikode and Thiruvananthapuram to provide members with gold jewellery at discounted rates. The society is also exploring facilities for purchasing old gold through its branches.
The society’s long-term goal is to improve financial security among ordinary people through savings and investment programmes. By 2030, BLM aims to help create one crore financially secure individuals through its initiatives, while continuing its focus on housing and livelihood opportunities for members.
