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Karnataka | IIFL Home Finance Ltd. aims for ₹ 9,500 Crore AUM in south region this financial year
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Karnataka, 22nd December, 2023 - IIFL Home Finance Ltd., India’s fastest-growing digital-first home finance company, has set its sights on achieving ₹ 9,500 crore assets under management (AUM) target in the southern region for the current financial year. The company's robust growth strategy includes focusing on various housing schemes, such as Affordable Housing Projects (AHP) and Beneficiary Led Construction (BLC) schemes.
With an overall portfolio aimed at providing affordable homes to the masses, IIFL Home Finance Ltd. has successfully catered to the housing needs of thousands of individuals and families. IIFL Home Finance Ltd.'s commitment to ensuring housing affordability is evident through its exemplary performance in Karnataka. As of November 30th, 2023, IIFL Home Finance Ltd. has disbursed about ₹ 2,170 Crore in the state, with a significant portion of approximately ₹ 1,565 Crore specifically directed towards the affordable housing sector. The strong presence of IIFL Home Finance Ltd. is demonstrated by its network of over 30 branches in the state of Karnataka.
Mr. Kranth Namala, Zonal Sales Head, South, IIFL Home Finance Ltd. Said, "IIFL Home Finance Ltd. is committed to enabling every person and family to fulfil their ambition of owning a house by facilitating sustainable homeownership. Our goal is to strengthen our presence in Karnataka. We want to close this fiscal year with an AUM of ₹ 9,500 crore. Through our home financing solutions, we are devoted to improving lives and will never waver in our commitment to provide affordable housing options."
The mission of IIFL Home Finance Ltd. is to make the process of buying a house as simple and hassle-free as possible for each customer. As a fintech housing finance firm, IIFL Home Finance Ltd. is committed to employing 100% digital onboarding and future-ready technologies.
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About IIFL Home Finance Limited:
IIFL Home Finance Limited, the largest affordable housing finance company, which is a subsidiary of IIFL Finance Limited, with 79.59% shareholding, while Abu Dhabi Investment Authority acquired 20.41% stake in the company in 2022. As of 30th September 2023, the AUM stood at Rs 31,094 crore of which home loan is 77% with an average ticket size of Rs 15 Lakh. The Return on Assets (ROA) for the period is at 4.33%. Through affordable home loans, IIFL Home Finance Ltd. makes people’s aspirations of owning a home a reality, while emphasizing on supporting green buildings and projects that help society achieve inclusive sustainable development. The objective is to fulfil economic upliftment for EWS/LIG segments of the country. The company has adopted an asset light model by getting into co-lending arrangements that further helps to penetrate and expand in deeper markets of India. To facilitate a seamless customer experience, the entire life cycle of housing loans is technology driven i.e., from origination to closure. The state-of-the-art IT infrastructure helps in reducing costs, real-time analysis of customer data, improving control and underwriting functions, while increasing customer reach and distribution capability.
