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Housing finance

Piramal Capital & Housing Finance now operational in Jaipur

Piramal Capital & Housing Finance Limited (PCHFL), the wholly-owned subsidiary of Piramal EnterprisesLimited, announced its foray in Rajasthan with the launch of its housing finance business in Jaipur. The company will provide its housing finance offerings namely home loans, loans against property and small ticket construction finance for home buyers (salaried and self-employed) in the Jaipur market. With a network of 3,000+ channel partners, the housing finance business of PCHFL has 16 branches across 15 cities. Going forward, in the next 3-6 months, PCHFL plans to open its housing finance operations in Navi Mumbai and Palava. Overall housing finance loan book for the company stood at INR 6100 crores as on June 30, 2019. Commenting on the launch, Mr. Khushru Jijina, Managing Director,...

CRISIL Reaffirms Highest Rating to Piramal Capital for Commercial Paper Programme

CRISIL has reaffirmed the highest rating, A1+ to Piramal Capital and Housing Finance Ltd. (PCHFL) for Commercial Paper Programme worth Rs.10,500 Crores. CRISIL has evaluated the business and financial risk profile of the overall financial services business, and also factored the managerial and financial risk profile of the holding company, Piramal Enterprises Limited’s (PEL) lending book. PCHFL welcomes these topmost ratings as it reaffirms the Company’s robust business portfolio, diversified revenue streams and established a presence across the spectrum of real estate financing along with increased product offerings. Over the last nine months, in line with our efforts to improve the asset-liability profile, ever since the first signs of liquidity strain emerged in the Indian market, the C...

Housing Finance Sector Continues to Face Multiple Headwinds, says India Ratings and Research

Housing finance companies (HFCs) have slowed down their loan disbursements, which, in India Ratings and Research’s (Ind-Ra) opinion, can have a spillover impact on both retail home loan borrowers and property developers. The housing finance sector has been facing challenges, which have led to a contraction in spreads, a rise in funding cost and an increased spotlight on their asset-liability mismatches. Such mismatches have resulted in constrained financing from both market-based sources (CPs and NCDs) and banks for many players. Rising Funding Cost of HFCs Shifts Competitive Benefit to Banks: The systemic rise in market borrowings rate has affected the housing loan business. The borrowing cost for some large HFCs could be upwards of banks’ marginal cost of funds-based lending rate (MCLR)....

Piramal Capital & Housing Finance Opens Branches in Vadodara and Surat – RealtyMyths

Since its inception in Sep-2017, the overall housing finance loan book has reached INR ~5,200 crores as on 31st March 2019 Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, today announced the expansion of its housing finance operations in Gujarat, with the launch of two new branches – Vadodara and Surat. The company will provide its housing finance offerings namely home loans, loans against property and small ticket construction finance in these markets. In October 2018, PCHFL launched its retail operations in Gujarat with Ahmedabad branch and in a short span of time, it has sanctioned over INR 75 crores of home loans. PCHFL has had a long-standing presence in Gujarat through its wholesale real estate funding business ...

Will 2019 Be The Year Of Settlement For The Indian Real Estate!

The year 2018 comes to an end, and with this ends the year of speculations, ups and downs, and resettlements. Indeed, the year 2018 was a roller coaster ride for the real estate sector. Policy reforms like GST and RERA as well as monetary reforms like Demonetisation were still troubling the market when it started, the year is now ending with a boom in co-working and commercial real estate. Let’s hear from the developers and industry veterans how they sum up the year 2018 and what are their expectations from the new year 2019. Dr. Niranjan Hiranandani –National President- NAREDCO opines that “As the disruptive impact of policy reforms faded away early this year, 2018 had witnessed the sign of revival. The industry has evolved extremely with an optimistic impact in terms of accountabil...

Capri global Housing Finance aims 29 x growth in AUM to cross Rs 7,000 crore by 2023

Affordable Housing to be key catalyst for CGCL growth in the next four year Capri Global Housing Finance Limited (CGHFL), a subsidiary of Capri Global Capital Limited (CGCL) – a leading NBFC lending primarily to MSME and Affordable Housing Sector – aims to clock 29-X growth in AUM, to cross Rs 7,000 crore, over the next four years. CGHFL is aligned to Prime Minister Narendra Modi’s mission to provide ‘Housing for All’ under the Pradhan Mantri Awas Yojana driven by UNDAP. CGHFL is engaged in servicing the underserved borrowers with a customized lending process driven by extensive quality checks and robust underwriting. The Company has an average ticket size of Rs 11 Lacs. Speaking about the housing finance business, Mr Rajesh Sharma, Founder and Managing Director at Capri Global...

Piramal Capital and Housing Finance Receives Global Recognition by Euromoney Real Estate Survey 2018

Ranked No.1 in Asia and India as ‘Best Overall Investment Manager’ First win in Asia and Fourth consecutive win in India Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, has been recognized as the ‘Best Overall Investment Manager’ for Asia and India at the 14th Annual Global Real Estate Survey conducted by Euromoney. Piramal Capital and Housing Finance has won this award in India for four consecutive years for setting new benchmarks and outstanding performance in the industry. In addition, it also marks its victory in one of the largest market – Asia this year for the first time by demonstrating its commitment & remarkable performance in the global real estate market. Mr. Khushru Jijina, Managing Director, Piramal Capita...

ICRA upgrades long term credit rating of Piramal Capital & Housing Finance Limited to AA+ (Stable)

Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, has received an upgraded rating of AA+ (Stable) from AA (Positive) by ICRA (an affiliate of Moodys) for its Long-Term Bank Lines, Non-Convertible Debentures and Sub-Ordinate (Tier-II) Bonds. The rating upgrade takes into account the healthy ramp-up in financial services business with increasing diversification of its asset base while maintaining favourable asset quality supported by robust risk management practices at PCHFL. The rating upgrade also factors in the gradual scaling up of the home-loans portfolio which is expected to improve the diversity in the overall loan book which had hitherto comprised of wholesale loans. This rating also draws comfort from the Group’s exper...

Muthoot Home Fin India Limited (MHIL) announces ‘Punarnirman Kerala’ – Home Improvement Loans with easy documentation

Muthoot HomeFin a subsidiary of Muthoot Finance announces Punarnirman Kerala – Home improvement Loans post the crisis from the biggest floods Kerala has ever witnessed. In this scheme, the company will offer special loans for the renovation/reconstruction of houses in the flood-affected areas. The loans will be processed with easy documentation and for a longer tenure. Mr. George Alexander Muthoot, Managing Director, Muthoot Finance said, “In an earnest attempt to provide a helping hand in the rehabilitation of people and rebuilding the State, Muthoot Finance has announced a special Home Improvement Scheme which will help Keralites to recover from the recent floods that devasted the State and its economy.” He further added, “People who have properties located in the State of Kerala even if...

HDFC ERGO Launches Title Insurance Cover For Property Developers.

HDFC ERGO, country’s third largest non-life insurance provider in the private sector, today announced the launch of ‘Title Insurance Policy’, a first of its kind product in the private insurance segment in India. This specialty insurance product provides Indemnity to property developers and the subsequent owners of the property against losses and risks related to defects in Property Title arising out of Third Party challenges not discovered prior to the commencement date of the policy due to the Title of Property belonging to someone other than the Insured, Descriptions & Plans in Historic deeds of the property being inadequate, Historic transaction being subject to an act of fraud or forgery by a third party that adversely affects insured’s rights over the title of the property, Title...

Top Housing finance companies in India

Housing Development Finance Corporation Limited (HDFC) Housing Development Finance Corporation Ltd (HDFC) is one of the leaders in the Indian housing finance market with almost 17% market share as on March 2010. Serving more than 38 lakh Indian customers as on March 2011, HDFC also offers customized solutions that fit to the need of the customer. In the FY 2010-11, it registered a net profit of `4528.41 crore. It also registered a net profit of `971 crore in the quarter ended September 30, 2011. State Bank of India Home Finance (SBI) State Bank of India is another major player in the Indian housing finance market with 17% of the market share, same as HDFC’s share as on March 2010. The SBI Housing Loan schemes are specifically designed to meet the varied requirements of the customers....

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