Fastest growing & sustainable HFC IIFL Home Loan Disbursed loans of approx. 3000Cr
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Fastest growing & sustainable HFC IIFL Home Loan Disbursed loans of approx. 3000Cr

IIFL HFL Disbursed loans of approx. ₹ 3000 crore

Winning awards and accolades like Sustainability Initiative of the Year (Business Intelligence Group), Green Brand of the Year (International Advertising Association) and The Economic Times Best BFSI Brand 2021, IIFL Home Finance Limited has already made its mark in the BFSI and housing finance sector.

KEEPING THE PROMISE OF #YouGrowWeGrow

IIFL Home Finance Ltd., a 100% subsidiary of IIFL Finance Ltd., reported a 12% year on year growth in its AUM figures (Assets Under Management) and disbursed loans amounting to almost ₹3000 crores in the first half-year ending on September 30th, of the financial year 2021-22, with total AUM of ₹21,474 crores as on the same date.

The company reported 19% growth year on year in its loan book, amounting to ₹15,320.99 crores (as of half-year ending on September 30th, 2021) against a loan book of ₹12,892.74 crores as of September 30th 2020. Additionally, the company’s profit after tax (PAT) increased by 70%, year on year, amounting to ₹ 284.02 crores, as of the half-year ending on 30th September 2021. The net NPA (Non-performing Assets) reported for the same period is 1.40%.

Despite the macro-economic headwinds, the company continues to grow financially and sustainably.

Fastest growing & sustainable HFC IIFL Home Loan Disbursed loans of approx. 3000Cr
Source: www.iiflhomeloans.com

IIFL HFL INKS CO-LENDING PACTS WITH LEADING BANKS

The company has also signed a co-lending 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 leading foreign banks in India) for extending credit to MSMEs through Secured Business Loans. IIFL HFL has also signed a pact with ICICI Bank for sourcing and servicing of Home Loans and Secured Business Loans.

IIFL HFL has disbursed loans totalling ₹610 Crore to date, under these arrangements, as of November 30th 2021.

IIFL HFL LAUNCHES GREEN HOME LOAN PRODUCT, FURTHERS ITS COMMITMENT TO ‘GREEN AFFORDABLE HOUSING’ IN INDIA

IIFL HFL recently announced the launch of its new Green Home Loan product, emphasizing the need for an affordable ‘Green’ housing eco-system in India. With the new product, IIFL HFL offers a  flat discount of 0.25% on the home loan interest rate if the home loan customer buys flat/property pre-certified by IGBC (Gold/Platinum rating) or GRIHA (4/5 star rating). This offer is applicable for all new Home Loan customers across the country complying with product-related per-requisites and conditions as defined by the IIFL HFL.

IIFL Home Loans is the first housing finance company to launch a green product/offering like this. The company, through its Green Value Partners (GVPs), who are the green architects, also provides end-to-end assistance (hand-holding) to the developer and work along with them throughout a project’s lifecycle, from concept to completion, ensuring the successful realization of the intended project’s vision and efficiencies, along with the Green Building Certification.  IIFL HFL GVPs have facilitated pre-certification of 16 green projects to date, and have enabled 13,296 families to have green pre-certified homes, annually resulting in savings of 9074 Mwh (megawatt hour) of energy, 524 megalitres of water and offsetting 8349 tons of Carbon Di-Oxide (CO2).

IIFL Home Finance Limited (IIFL) and the Asian Development Bank (ADB) have recently signed an agreement for technical assistance (TA) that will help promote green and affordable housing solutions in India. Through the TA, IIFL HFL and ADB will raise awareness on climate risk mitigation and adaptation and green-certified housing standards among developers and other stakeholders in the affordable housing market. IIFL HFL acknowledges 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 SDG 9, 10, 11, and 13. The company also contributes partially to other SDGs and has introduced 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 National Housing Bank (NHB), IIFL Home Finance Limited is a wholly-owned subsidiary of IIFL Finance Limited. The Company is one of India’s leading housing finance companies and is a preferred choice for affordable home loan requirements. Through their affordable home loans, IIFL Home Finance makes people’s aspirations of owning a home a reality. As a technology-driven housing finance player, they endeavour to make the customer experience as seamless as possible; having made the entire life cycle of housing loans i.e., from origination to closure, completely digitized. Their state-of-the-art IT infrastructure has helped in reducing costs, real-time analysis of customer data, improving control and underwriting functions while increasing customer reach and distribution capability.

IIFL HFL has adopted and implemented a social objective across all aspects of their business in line with the vision of ‘Complete Profitability’ and 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 per cent of their live account was from customers who belonged to the EWS and LIG segment. Through the provision of loans for the purchase of homes to a customer segment that is not serviced by the mainstream financial services sector and their employment of personnel in rural and semi-urban locations across India, they are fulfilling an important social objective of economic upliftment for these segments of the Indian economy.

IIFL HFL offers customers a range of mortgage-related loan products, including:

  1. Home Loans, for purchase of ready built residential units, under construction property by approved builders, self-construction, home improvement on pre-owned property and purchase of land for construction of residential property
  2. Secure Business Loans, for primarily meeting working capital requirement, business use and purchase of commercial property; and
  3. Affordable housing project loans, to meet construction expenses of affordable housing projects of reputed developers.

To apply, click here.

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