Hello VINAY,
This can be easily achieved through user-exit SAPMF02D (EXIT_SAPMF02D_001), where in the include ZXF04U01 you will put your functional location create code. This can be a BDC program or by using fm like BAPI_FUNCLOC_CREATE . This exit triggers during Customer Save event so a Functional location will be created as per your code when a customer is created.
Remember to put this code between these two lines: IF SY-TCODE = 'FD01'. and ENDIF. so that it should not trigger during FD02 saving.
Good luck
KJogeswaraRao