First Leasing Company of India was incorporated as the first leasing company of the country on September 10, 1973. Farouk Irani promoted the company. It introduced leasing in India during September 1973, 34 years back and additionally commenced hire-purchase-transaction in 1986 and diversified into consumer finance during 1988. The total revenues of First Leasing grew to Rs 30.95 crore during the fiscal year ended on 31st March, 2008.