Mumbai, 7th September, 2021: IIFL Home Finance Limited (IIFL HFL), one of India’s leading housing finance company has been recognized and won The Sustainability Initiative of the Year Award at 2021Sustainability Awards.
The award presented by Business Intelligence Group (BIG) recognized and acknowledged those people, teams, and organizations that have made sustainability an integral part of their business practice or overall mission. The awards focused on personalities, projects, technologies, and products from companies that pushed their boundaries and contributed towards building and promoting a green ecosystem and spreading awareness on sustainability.
IIFL Home Finance Limited has been recognized with 'The Sustainability Initiative of the Year Award 2021' for their Kutumb – 'Green Affordable Housing initiative'. Through its platform ‘Kutumb,' IIFL Home Finance has been promoting green affordable housing in India. It is a green building effort that addresses affordable housing projects as well as funding, green construction technical know-how and certification, and ESG compliance.
On winning this prestigious award category, Mr. Monu Ratra – CEO & ED at IIFL HFL said, Kutumb is our proud initiative. I appreciate the efforts by our team to make this initiative a great success. We strive to create a sustainable ecosystem and igniting a green affordable housing movement in India. We are honored to be recognized alongside so many incredible companies and to accept this award. About IIFL Home Finance Ltd: Incorporated in 2006 and registered in 2009 with National Housing Bank (NHB), IIFL Home Finance Limited is a wholly-owned subsidiary of IIFL Finance Limited. Through their affordable home loans, IIFL Home Finance makes people's aspirations a reality.
As one of the country's leading fintech housing finance companies, IIFL HFL is well-positioned with end- to-end digitized processes, in-house competencies, and customer centricity at its core. IIFL HFL leverages technology, being able to on-board and give loan decision to almost 100% home loan applications, within 25 minutes, through its digital tablet based application, enabling enhanced customer experience The Company’s comprehensive product suite includes small ticket size home loans, secured business loans and affordable housing project loans. With the group network of over 2,500 touch points, efficient technology-led operations and transparent processes, IIFL HFL is well-placed to serve the housing finance needs of marginalized sections of the society. With robust asset quality, ethical business approach and responsible social and environmental practices, the company continues to deliver the best-in-class customer experience.
IIFL HFL’s main focus has been to provide loans to the first-time home buyers in the economically weaker section (EWS) and lower income (LIG) segments in the suburbs of tier 1, tier 2 and tier 3 cities. Salaried and Self-Employed customers account for 44.37% and 55.63% of its Rs. 206,936.87 million AUM as of March 31, 2021, which has grown at a CAGR of 20.64% over the last 5 Fiscal Years. Company has served over 141,000 customers as of March 31, 2021. Its home loan average ticket size is approx. Rs.1.73 million. Under the PMAY-CLSS scheme, IIFL Home Finance has helped empower over 44,800 customers with more than Rs.10 billion of subsidies as on July 15, 2021. During the uncertain times, the company has shown consistent performance, recording profit after tax (PAT) of Rs.4010.95 million in financial year 2020-21.
About Business Intelligence Group
The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry award programs, business executives—those with experience and knowledge—judge the programs. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers. To know more, https://www.iiflhomeloans.com/sustainable-future
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