∙Maximum Home Loan files disbursed by IIFL under Pradhan Mantri Awas Yojana (PMAY – URBAN) – Affordable Housing Projects by NMRDA
∙Over 650 Home Loans disbursed by IIFL Home Finance Ltd. in Nagpur city
Nagpur, 24th August, 2021: IIFL Home Finance (IIFL HFL), one of India’s leading housing finance company, has been recognised and certified as the most preferred lender for Home Loans in the city by Nagpur Metropolitan Region Development Authority (NMRDA). NMRDA certified IIFL Home Finance for disbursing Home Loans to over 175 customers with a total disbursement of over Rs.12 crore under the Affordable Housing Project (A.H.P.) Scheme of Pradhan Mantri Awas Yojana (PMAY – URBAN), implemented by NMRDA, Nagpur.
IIFL Home Finance has been expanding its footprints and has established itself as one of the most desired Home Loan lender to new age prospective home buyers and Home Loan applicants in Nagpur city. The company has already disbursed Home Loan to over 650 customers so far in Nagpur city, and has further plans to increase its reach amongst first time home buyers and home loan seekers in the area.
Steadily moving towards Government’s mission of ‘Housing for All’, IIFL Home Loans has established itself 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.
Speaking on the achievement, Mr. Dhawal Mehta, Zonal Sales Head, at IIFL HFL said, “In the last 5 years, we have managed to elevate our servicing capabilities in Nagpur and have successfully catered to Home Loan aspirants in EWS/LIG category. We are delighted to have been recognised and certified by NMRDA, this gives us the boost to serve better in the coming times”.
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.
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