AFFORDABLE DISBURSEMENT

This is the time for us to grow the book faster and improve margins: Girish Kousgi, PNB Housing Finance

Girish Kousgi, MD & CEO of PNB Housing Finance, discusses the company's transformational journey of raising capital, improving asset quality, and reducing NPAs. He highlights the focus on growth in the affordable housing sector and expanding presence in tier II and III cities.

New home for Shriram Housing Finance: Private equity funds close in on deal

Parent Shriram Finance, which is mainly involved in commercial vehicle financing, owns 84.82% of Shriram Housing Finance Ltd, which focuses on affordable homes. San Francisco-based PE Valiant Capital Management owns most of the remaining stake.

Sundaram Home Finance lines up aggressive expansion plans

Sundaram Home Finance, a subsidiary of non-banking finance company Sundaram Finance Ltd., plans to expand by adding 40 branches across India. The company reported an 18% rise in net profit for Q3 2023, reaching Rs 62.28 crore. It plans to add more branches in home finance, small business loans, and affordable housing segments.

DCB ties up with Easy Home Fin for affordable housing loans

"Our expertise in origination and credit assessment will be boosted with the expertise and digital tech of Easy Home Finance," said Narendranath Misha, head-retail and agri loans at DCB Bank. "The alliance will enable the Bank to reach more geographies in the affordable home loan arena," he said.

India Shelter Finance is well placed to benefit from affordable housing opportunity

The gross non-performing asset (GNPA) ratio fell to 1.1% in FY23 from 2.1% in the previous year. The return on asset (RoA) was 4.1% in FY23.

PNB Housing Finance to increase the share of loans for affordable housing segment

PNB Housing Finance aims to increase its share of the affordable housing segment in overall loan disbursal from 10% to 40% within 3-4 years. The affordable housing segment, named Roshni, achieved a loan book of Rs 1,000 crore in less than a year. The company plans to open 60 more branches before March to capitalize on growing demand, especially in tier 2 and 3 cities.

Govt-backed SWAMIH returns 25% capital with 17 full, 29 partial exits with project deliveries

Designated as a category II alternative investment fund, it was introduced by finance minister Nirmala Sitharaman in September 2019. This initiative emerged in response to escalating worries about stalled projects adversely affecting homebuyers and posing potential risks to the banking system.

Additional housing loans for stalled real estate projects to be treated as standard credit

The Reserve Bank of India (RBI) has informed banks that additional housing loans for stalled real estate projects, revived under the government's Special Window for Affordable and Mid-Income Housing (SWAMIH) scheme, can be considered standard loans. This move aims to support the completion of stalled projects. However, the borrower must not own more than two residential properties in a stalled project, and failure to meet payment terms will revert the account to non-performing status.

Bullish on affordable housing segment: Atul Monga, CEO Basic Home Loan

"This initiative aligns seamlessly with our goal to expand our reach within the priority sector lending (PSL) domain," said Atul Monga, chief executive of BASIC Home Loan.

Aiming to have best asset quality among HFCs: Girish Kousgi, PNB Housing Finance

I think we had a very good quarter two. We stick to our book growth guidance of 17 to 18%. So as I mentioned earlier, first we will catch up with disbursement and then the book growth would follow.

P2P lending platform Rang De disburses Rs 85 lakh worth of credit to small, marginal, and landless farmers in Assam

Through a strategic collaboration with Siddhi Vinayak Agri Processing Pvt Limited (SV Agri), Rang De is supporting the potato value chain in Assam to tackle the above bottlenecks through an innovative blend of financial solutions. By helping potato farmers connect with suppliers who provide them with resources (backward linkage) and buyers who purchase their produce (forward linkage), along with tailored credit solutions, Rang De is helping farmers create a sustainable ecosystem for growth.

North to South: On the trail for the cheapest spirits in India

Goa's affordable liquor prices, due to its unique tax structure, have made it a popular destination for budget-conscious travelers. While Goa's tax rates are not the lowest, they are significantly lower than neighboring states like Karnataka and Maharashtra. This has led to significant price variations, with popular Scotch brands costing over 20% more in cities like Mumbai compared to Delhi.

We are not really seeing any let-up in demand for affordable housing: Home First Finance MD

“There is more interest from banks to lend to companies which are in the mid-size category like ours. Earlier, a lot of those funds would probably get directed towards larger companies like HDFC. We are seeing early signs of that and that is good for companies as well rated like ours and which are growing at this stage.”

Assam tops North-East states in implementation of PM SVANidhi scheme

After reviewing the progress of PM SVANidhi scheme in the Northeastern states here, Karad appealed to the banks to accelerate coverage of SVANidhi loans to the poor. “Banks should fund the unfunded on priority,” he stressed. The Minister further advised to organise camps at village levels to provide various Banking services.

Goal is to provide affordable green hydrogen as alternative to traditional fuels; Jio Financial Services to offer simple solutions, says Mukesh Ambani

Reliance is among the largest global producers of grey hydrogen. The company has partnered with Denmark’s Stiesdal A/S to reduce costs and commercialise their Pressurised Alkaline Electrolyser technology. Meanwhile, Jio Financial, has been valued at around $20 billion after its shares were spun off last month.

Deven Choksey on 4 mid-tier IT stocks that show a margin of safety

Investors are being drawn to underpriced public sector enterprises and mid-tier technology players for long-term investment opportunities, according to Deven Choksey of KRChoksey Holdings. However, he added that such sectors had been perfected in the short-term and it was increasingly challenging for investors to pick value from them. Choksey also discussed higher demand from rural India generating growth in FMCG companies and the efficient use of fintech by NBFC firms to disburse loans.

SMFG India Credit eyes Rs 75,000 cr loan book by FY26

The company was hit hard by the second wave of the pandemic and reported Rs 894.5 crore net income last fiscal against Rs 1500 crore loss in FY22, as it could grow 10x growth in FY23 over FY22 with loan disbursements doubling to Rs 30,186.8 crore as of March and since then grown to Rs 36,000 crore.

FlexiLoans AUM crosses Rs 1,000 crore, disburses over 70,000 loans

FlexiLoans, an MSME-focused fintech NBFC, aims to reach Rs 10,000 crore in assets under management by the year 2025.

Apart from metros, LIC Housing Finance focussing on tier II & III cities for affordable segment: MD

“Individual housing loan growth is 13-14%. Even earlier, we were indicating that for the whole year FY22-23, our guidance will be around 15% year on year. In the case of developer loans, we were very calculative and adopted a very cautious approach. Apart from metros, we are also focussing on tier II, tier III cities but only for the affordable segment.”

Basic Home Loan to disburse Rs 1,000 crore every month by March 2023

Basic Home Loan has aggressive expansion plan for 2022-23 and will be present in over 100 cities from about 30 cities currently.

In last 3 months, we have more new customers; greater disbursals: George Alexander Muthoot

“The highest disbursement was made in Q3 of last year when we disbursed about Rs 50,000 crore gold loan. On an average, we disbursed about Rs 30,000 crore every quarter. So the number of customers coming for taking a gold loan should be in the range of 50,000-60,000 a day.”

Capri Global Capital to disburse Rs 400 crore under affordable housing loan category

All the salaried employees employed with government, public and private can avail for this loan. The women applicant to receive an additional 0.10% discount in rate of interest.

Next three years should be extremely good for rural: Ramesh Iyer, M&M Finance