Tamil Nadu | IIFL Home Finance (IIFL HFL) adds over 30 branches nationwide, total branch count crossing over 375 in 18 states

• Since inception, IIFL HFL has disbursed over Rs 1,140 crore of home loans to over 6,755 customers in the state of Tamil Nadu till 31st August 2023

• In Tamil Nadu, IIFL HFL has inaugurated 1 more branch totalling to over 40 branches to have a deeper penetration in the affordable housing segment

• In the state of Tamil Nadu, IIFL HFL provided more than 2,150 beneficiaries with financial assistance totalling Rs 45 crore under the BLC and CLSS

• With a presence in 18 states, expansion was carried out in 11 states, including Assam, Gujarat, Karnataka, Madhya Pradesh, Orissa, Rajasthan, Andhra Pradesh, Telangana, Uttarakhand and Uttar Pradesh

• IIFL Home Finance Limited (IIFL HFL) secured a USD 50 million loan from DFC and a USD 100 million loan from IFC in order to promote green building practices, support the construction of affordable homes in India, and advance the nation's climate goals

• Launch of a campaign with Tamannaah Bhatia as its brand ambassador

Tamil Nadu, 15th Sept 2023: IIFL Home Finance Ltd. (IIFL HFL), India’s fastest-growing digital-first home finance company, expanded to add over 30 branches in Andhra Pradesh, Assam, Gujarat, Karnataka, Madhya Pradesh, Orissa, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh and Uttarakhand on September 14th, 2023. With the expansion, IIFL HFL’s total branch network has expanded to over 375 branches across 18 states. The ambitious expansion by IIFL HFL aligns with the company’s focus on scaling up in the coming years. IIFL HFL targets growth in tier 2–3 cities to reach the masses. Currently, IIFL HFL is the biggest player in the affordable housing segment in India.

These branches will be focusing on IIFL HFL’s Affordable Home Loan catering to first time home buyers of the country, aiming to serve the underserved customers from the EWS/LIG section of the society. The company has disbursed over Rs 40,600 crore of home loan to over 2,49,000 customers since inception till 31st August 2023. Majority of them being first time home buyers hence aligned to ‘Housing for All’ mission by Government of India.

Also, the company introduced a campaign with popular actor Tamannaah Bhatia as its brand ambassador titled ‘Sapnon Ko Sach Karne Ka Seedha Rasta’, the campaign is running across regional and national publications, radio and print media. The advertisements under the said campaign have been crafted with the essence of rap music to grab the attention of its potential target set. The campaign is aimed at consumers who are currently residing at rented property and aspiring to buy a home in the near future. It communicates that home buyers can obtain IIFL Home Finance’s home loan in a seamless manner.

Speaking on the occasion, Kranth Namala, Zonal Sales Head, South, IIFL Home Finance Ltd. said, “We are thrilled to expand our presence with the inauguration of 33 new branches across 11 states. We, at IIFL HFL, are committed to enable people and families to realise their aspiration of owning a house. This expansion is a reflection of our commitment to reach out to more communities and make our services readily available to those in need.”

The mission of IIFL Home Loan 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 HFL is committed to employing 100% digital onboarding and future-ready technologies.

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About IIFL Home Finance Limited:

IIFL Home Finance Limited (IIFL HFL), the largest affordable housing finance company 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 June 2023, the AUM stood at Rs 29,595 crore of which home loan is 77% of the total with an average ticket size of Rs 15.43 lakh. The Return on Assets (ROA) for the period is at 4.25%. Through affordable home loans, IIFL HFL 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.