KEEPING THE PROMISE OF #YouGrowWeGrow
IIFL Home Finance Ltd., a wholly owned subsidiary of IIFL Finance Ltd., recorded 12% year-on-year growth in its AUM (assets under management) and disbursed loans amounting to nearly ₹3,000 crores in the first half ending September 30 of FY 2021-22, with a total AUM of ₹21,474 crores on the same date.
The company reported 19% year-over-year growth in its loan portfolio, amounting to ₹15,320.99 crores (in the six months ending September 30, 2021) against a loan book of ₹12,892.74 crores as of September 30, 2020. In addition, the company’s profit after tax (PAT) increased by 70%, year-on-year, to stand at ₹ 284.02 crores, for the six months ending September 30, 2021. The net NPA (non-performing assets) reported for the same period is 1.40%.
Despite macroeconomic headwinds, the company continues to grow financially and sustainably.
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IIFL HFL INKS CO-LOAN AGREEMENTS WITH MAJOR BANKS
The company has also signed a co-loan agreement with banks such as Punjab National Bank (India’s second largest public sector bank), Central Bank & Union Bank of India for housing loans and with Standard Chartered Bank (one of the major foreign banks in India). India) for providing credit to MSMEs through guaranteed commercial loans. IIFL HFL has also signed a pact with ICICI Bank for the supply and service of home loans and secured commercial loans.
IIFL HFL disbursed loans totaling ₹610 Crore to date, under these agreements, as of November 30, 2021.
IIFL HFL LAUNCHES GREEN HOUSING LOAN PRODUCT AND CONFIRMS ITS COMMITMENT TO “AFFORDABLE GREEN HOUSING” IN INDIA
IIFL HFL recently announced the launch of its new green home loan product, highlighting the need for an affordable “green” housing ecosystem in India. With the new product, IIFL HFL is offering a flat rate discount of 0.25% on the mortgage interest rate if the mortgage client purchases an apartment/property pre-certified by IGBC (Gold/Platinum rating) or GRIHA (4/5 star rating). This offer applies to all new home loan customers nationwide who meet the pre-requisites and product-related terms as defined by the IIFL HFL.
IIFL Home Loans is the first home finance company to launch a green product/offer like this. The company, through its Green Value Partners (GVPs), who are the Green Architects, also provides end-to-end (hands-on) support to the developer and works with them throughout the life cycle of the developer. a project from concept to completion, ensuring the successful achievement of the vision and effectiveness of the planned project, as well as Green Building certification. The IIFL HFL GVPs have facilitated the pre-certification of 16 green projects to date and enabled 13,296 families to have pre-certified green homes, saving 9,074 Mwh (megawatt hours) annually. energy, 524 megaliters of water and offset 8,349 tonnes. carbon dioxide (CO2).
IIFL Home Finance Limited (IIFL) and the Asian Development Bank (ADB) recently signed a technical assistance (TA) agreement that will help promote green and affordable housing solutions in India. Through the TA, IIFL HFL and AfDB will sensitize developers and other affordable housing market stakeholders on climate risk mitigation and adaptation and certified green housing standards. IIFL HFL recognizes and embraces the United Nations Sustainable Development Goals (UN SDGs) and has aligned its major efforts with 4 of the 17 UN SDGs, which are SDGs 9, 10, 11 and 13. company also partially contributes to other SDGs and presented its first sustainability report this year, which is publicly available on the company’s website, www.iiflhomeloans.com.
About IIFL Home Finance Limited:
Incorporated in 2006 and registered in 2009 with the National Housing Bank (NHB), IIFL Home Finance Limited is a wholly owned subsidiary of IIFL Finance Limited. The company is one of the leading housing finance companies in India and is a preferred choice for affordable home loan needs. Through its affordable home loans, IIFL Home Finance makes people’s aspirations of owning a home a reality. As a technology-driven housing finance player, they strive to make the customer experience as smooth as possible; having made the entire home loan lifecycle, i.e. from origination to closing, fully digitized. Their state-of-the-art IT infrastructure has enabled cost reduction, real-time analysis of customer data, improved control and underwriting functions while increasing customer reach and distribution capacity.
The IIFL HFL has adopted and implemented a social purpose in all aspects of its business in line with the vision of “full profitability” and the ESG framework with an increased focus on sustainable growth. They operate a financially inclusive customer-centric lending business and believe that their business model contributes significantly to the EWS and LIG segment. As of March 31, 2021, 74.90% of their real account came from customers belonging to the EWS and LIG segment. Through the provision of loans for the purchase of homes to a segment of customers not served by the traditional financial services sector and the employment of staff in rural and semi-urban areas throughout the India, they fulfill an important social purpose of economic betterment for these segments of the Indian economy.
IIFL HFL offers its customers a range of mortgage products, including:
1. Home loans, for the purchase of residential units that are ready-made, under construction by approved builders, self-construction, home improvement on second-hand property and the purchase of land for building a residential property
2. Secured business loans, primarily to meet working capital requirements, business use and the purchase of commercial property; and
3. Affordable Housing Project Loans, to cover the construction expenses of affordable housing projects from reputable developers.
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Disclaimer: This content is distributed by Digpu News Network. No HT journalists are involved in the creation of this content.
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