Housing finance
Indiabulls Asset Management, part of Indiabulls group, has stated that they have appointed Mr.Ambar Maheshwari, as CEO of its alternate investment funds business which it is under the process of being up. The AIF team will be investing primarily in real estate. Maheshwari was previously the Managing Director of Corporate Finance at Jones Lang LaSalle. [...] Continue Reading »
Indiabulls Housing Finance, prominent mortgage lending firm today testified around 20 percent of outpouring in its net profit of June Quarter at INR 424 crore. Year ago from now, the company had displayed its net profit (after payments of taxation) INR at Rs 424 crore. Company’s total income was reported up by 19.3 percent to [...] Continue Reading »
One of the most important financial holding companies in India; manned and operated by the Larsen & Toubro group is L&T finance holdings, which has aims and ambitions for the country at large. Sources from the company say that the venture plans to become a bank, with an ambition that would show how the incoming [...] Continue Reading »
Housing finance was viewed by banks as one of the safest avenues for lending. Banks that had got into the act early on, in competition with the specialised housing finance companies that started the business, were handsomely rewarded with a very positive risk-reward profile for several years. As the sector expanded, though, many of these [...] Continue Reading »
The issuance of unsecured redeemable non-convertible debentures by India Infoline Housing Finance Limited (IIFL), which is the housing finance subsidiary of IIFL Holdings Limited, has been oversubscribed 2.24 times of the base issue. As per the stock exchange data the total collection was Rs 224.5 crore which is 2.24 times of the base issue. The [...] Continue Reading »
Dewan Housing Finance Corporation (DHFL) is looking to tap Maharashtra’s semi urban and rural market for housing finance lending business. DHFL, a private housing finance company, has around 11,000 customers in and around Pune with a portfolio size of Rs 1,000 crore. Rakesh Makkar, president & chief distribution officer, DHFL points out that Pune is [...] Continue Reading »
The investors’ demand for non-convertible debentures (NCDs) remains high as s companies offer high coupon rates. In 2013-14, around Rs 33,842 crore have been raised by companies through NCDs and tax-free bonds, almost twice the amount of Rs 16,982 crore companies raised in 2012-13. In the current year, tax-free bonds have been high in demand [...] Continue Reading »
IDFC is prepared with a “Plan B” just in case it does not make it to the list of winners for a license from the Reserve Bank of India to start a bank. This also means diversification into housing finance and retail lending business. Speaking on this Group Chief Financial Officer, IDFC, Mr. Sunil Kakar, [...] Continue Reading »
Tata Housing Finance has announced lower rates for women home loan borrowers. The company competes with various financial institutions which offer special loans for women. The company issued a statement that for loan up to 40 Lakhs the rates will be 10.15% for women, while for other borrowers it will be 10.45%. The company stated [...] Continue Reading »
Over the past five years, housing finance penetration has remained stable in India, reports ICRA Limited, an Indian credit ratings agency. The penetration levels in other developing countries are significantly higher than in India. The report states that the penetration rate increased from 4.5 percent as on March 2004 to 7 percent in March 2007. [...] Continue Reading »
