Late Shri. K.T. Marattukalam, the founder of Maratt Group, foresaw huge potential in the banking domain and the need to provide quick and inexpensive finance to the middle and lower income groups in Kerala. In 1937, he converted this into reality – The Catholic Bank
of India was born.
It is said, that once while admiring the sheer beauty of the meandering waterways and backwaters of Kerala, he suddenly realized that he had the answer to the acute transportation problems facing the State. There, germinated the idea of a profitable, yet socially relevant venture in the early 1940s – The Kerala Boat Service, thus creating an inexpensive mode of transportation for the masses by leveraging on the regions abundant natural resources – the backwaters. This service was soon to become the largest backwater boat service in Kerala, boasting of an efficient fleet of boats, including 'Jalarani' – the biggest boat of its time.
It was around this period, that the automobile industry in the country was registering rapid progress. This again represented an opportunity for us. The strategic acquisition in 1946 of a Rubber factory in Changanacherry, Kerala, which was then into the manufacture of balloons, helped us diversify into the high potential and lucrative manufacture of 'Camelback' (tyre retreading material). By the end of the 60's, Ruby Rubber Works was the second largest manufacturer of 'Camelback' in India.
This spurred us to venture into the manufacture of cycle tyres in the early 60's…another pioneering effort. Factories were set up in Chennai and Changanacherry, for its manufacture. We were the first, and the largest Indian manufacturer of cycle tyres. We can also take credit in pioneering cocoa cultivation in the organized sector in India. The success of this venture encouraged many others to follow suit.
By the 70's, the foam rubber industry was being touted as a sunrise industry in India. Therefore, diversifying into the manufacture of foam products was but only a natural progression for us. Ultra modern manufacturing facilities were soon set up in Chennai and Bangalore.
In the 80's we ventured into the manufacture of Latex Concentrates- these being raw materials for the Foam Rubber, Rubberized Coir and Latex Glove Industries - by setting up a modern factory in Nilambur, Kerala.
Early 2000 provided us with another diverse business opportunity…the booming real estate market in India.
Prime real estate holdings in Bangalore helped us leverage on this opportunity, through a joint venture with Mantri Developers. The result: a 228 apartment project called 'Mantri Elite'. The project was completed in just two years and was sold out in record time.