Aadhar Housing aims to quadruple disbursements in Gujarat in FY '16
As against Rs 40 crore worth of disbursements in FY 2014-15, the financing firm is looking to grow the same to Rs 160 crore in the current fiscal
Apr 18, 2015
Source : Business Standard

 

Ahmedabad: Buoyed by the growing demand in the affordable housing segment, Aadhar Housing Finance Limited (AHFL) is aiming at quadrupling loan disbursements in Gujarat in fiscal 2015-16. As against Rs 40 crore worth of disbursements in financial year 2014-15, the financing firm is looking to grow the same to Rs 160 crore in the current fiscal.

Talking about its expansion plans, Deo Shankar Tripathi, CEO of AHFL said, "We had a loan book of Rs 1000 crore in last four years but this year we are looking to double the same to Rs 2000 crore. Also, we had disbursements worth Rs 1070 crore through 18000 accounts during this period. Last year, we disbursed Rs 523 crore worth loans. This year, we are targeting loan disbursements of Rs 1200 crore through 14000 accounts."

According to Tripathi, while Gujarat currently contributes around 8-10 per cent, the company plans to raise that to around 15 per cent contribution to overall loan disbursement.

The average ticket size of the loan at Aadhar is Rs 6.40 lakh. The maximum loan amount given by Aadhar is Rs 12 lakh, and AHFL plans to increase the same to Rs 15 lakh; minimum ticket size is Rs 0.50 lakh. AHFL broadly focus us on loan size between Rs 4 lakh to Rs 10 lakh.

IFC, a member of the World Bank group has 20 per cent equity with an investment of $4,400,000 (Rs 200 million) and DHFL Group has the remaining 80 per cent equity in Aadhar.

Currently, Aadhar Housing Finance Limited operates through 62 branches in 9 states & plans to open 40 more branches in current FY. 28 branches are proposed in Maharashtra, Punjab, Haryana and Uttaranchal & 12 in states where AHFL has their presence. So total branches by end of March FY16 will be 102. AHFL has got the concurrence from IFC to operate in four new states - Maharashtra, Punjab, Haryana and Uttaranchal.

Aadhar has touched the lives of over 17,000 families Aadhar was launched in February 2011 Aadhar is Present in 9 States - Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Jharkhand, Odisha, Bihar, West Bengal, Gujarat and Rajasthan.

In terms of loan customers of AHFL, about 78 per cent of them are salaried while 22 per cent are self-employed.

Latest Realty News

PMRDA-set-to-take-on-unauthorised-constructions-from-May-1
Apr 18, 2015
PUNE: The Pune Metropolitan Development Authority (PMRDA) will start functioning from May 1
Urban-plan-overlooks-eco-issues,-experts-fear-city-not-future-ready
Apr 18, 2015
PUNE: Focussed primarily on roads, water supply and public spaces, the civic body's development plan for the old and new city areas has not taken into to account the impact of climate change
Infra-Growth-to-Give-Chennai-Realty-a-Push:-JLL
Apr 18, 2015
Chennai: Development of infrastructure projects like Metro rail and the economic upturn will have a positive impact on the residential, office and commercial real estate segments
Development-plan-marks-Mumbai-cemeteries-for-housing,-road-widening
Apr 18, 2015
MUMBAI: If the omissions and commissions of the city's draft Development Plan (DP) have got the living gnashing their teeth, the dead could be turning in their graves
‘Demand-for-commercial-real-estate-picks-up-in-few-pockets’
Apr 18, 2015
New Delhi: Green-shoots are being witnessed in the commercial real estate sector
Shapoorji-Pallonji-group-offers-to-invest-Rs-20,000-crore-in-Hyderabad
Apr 18, 2015
HYDERABAD: Chief minister K Chandrasekhar Rao's plans for a state-of-the-art Secretariat complex has received a shot in the arm with real estate major Shapoorji Pallonji Group offering to build it
Good-tidings-for-home-buyers
Apr 18, 2015
Mumbai: At a time when salaries aren’t expected to increase much, a reduction in home loan rates is a blessing
2000-house-owners-provide-tenant-info
Apr 17, 2015
BHUBANESWAR: Police have received information about tenants from over 2,000 house owners in the city
Probe-into-land-lease-violation
Apr 17, 2015
Patna: Land revenue minister Narendra Narayan Yadav announced a probe into violation in lease of government Khas Mahal land in Patna
Housing-Loans-to-Grow-22%-This-Fiscal-Year:-Icra
Apr 17, 2015
New Delhi: The Centre's focus on affordable housing for all could push overall home loan growth to 20-22 per cent this fiscal year

Latest Realty News Of State

Realty Talk's