SME Times is powered by   
Search News
Just in:   • S.Korea ready for vaccine roll out as shipment begins for doses  • ISSDA concerns on revocation of duties on stainless steel imports  • Robust global cues, healthy FII inflows push equities higher  • Economy on cusp of a turnaround in fortunes: Shaktikanta  • Stricter norms for social media, OTT 
Last updated: 21 Feb, 2021  

muthoot.finance.thumb.jpg Muthoot Homefin aims to disburse Rs 700 cr home loans in FY22

muthoot.jpg
   Top Stories
» Economy on cusp of a turnaround in fortunes: Shaktikanta
» Stricter norms for social media, OTT
» 'Consumption, investment demand recovers'
» India's fiscal position to remain weak: Moody's
» 'Monetise & modernise' is our motto: PM on disinvestment
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.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 26 Feb, 2021
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Cryptocurrency Bill: Killing the messenger?(1)
» Canada: Variant cases surge as overall Covid-19 numbers drop(1)
» CBDT refunds over Rs 1.93 lakh cr to 1.90 cr taxpayers since April(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter