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Muthoot Homefin aims to disburse Rs 700 cr home loans in FY22
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SME Times News Bureau | 22 Feb, 2021
Muthoot Homefin aims to disburse home loans worth Rs 700 crore in the upcoming financial year (FY2021-22).
In
a statement, the company said that over the past five years since its
inception, Muthoot Homefin has disbursed over Rs 2,600 crore home loans.
Currently, it has assets under management (AUM) of Rs 1,800 crore with
operations in 16 states and Union territories of India serving more than
22,000 customers.
"For the coming year, in addition to further
penetration into the existing geographies, Muthoot Homefin also plans to
expand its operations in the southern states of India and aims to
disburse up to Rs 700 crore of home loans in FY 2021-22," it said.
It
also added that the company's credit rating has been upgraded to "AA+
(stable)" from "AA (positive)" by Crisil during the week ended Friday
and the upgrade will allow the company to raise funds at competitive
interest rates, thereby passing on the benefits to its end customers, it
added.
George Alexander Muthoot, Managing Director said:
"Muthoot Homefin is aiming to disburse Rs 700 crore of home loans in FY
2021-22. We are steadfastly progressing on taking the 'Housing for All'
initiative of the government to the farthest tier II and III locations
in the country in order to support the affordable housing needs and
aspirations of every Indian."
As of now, the company will be focusing on expanding its housing finance operations in the southern states of the country.
"With
the additional focus towards collections in FY2020-21, the company has
been able to contain delinquencies on the portfolio during the pandemic
and have now stabilised its collections," the MD said.
Muthoot
Homefin (India) Limited is a wholly-owned subsidiary of Muthoot Finance.
It operates as an affordable housing finance company.
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