Housing Finance

Housing finance company Aviom has raised USD 30 million (over Rs 246 crore) in a funding round through a mix of primary and secondary investments by Nuveen, a global investment manager. The company is focused on affordable housing sector and the funding will help in expanding its loan book and widen its operations to newer geographies, said its chief executive officer Kajal llmi. With the series D funding, the company plans to extend financial assistance to around 60,000 families additionally in the new fiscal by disbursing around Rs 1,200 crore, she added. The company currently has a customer base of around 50,000. Stephen Lee, senior director & head of Asia at Nuveen's private equity impact investing team, said, Aviom has disrupted micro-mortgage lending landscape by catering to a hitherto underserved segment. This new equity investment will propel Aviom to grow 6-fold by 2026, Lee said. Over the next six months, Aviom looks to increase its monthly disbursement to Rs 150 crore

In October last year, the company made a foray into the small business loans segment

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In the near-term though, maintaining NIMs in a rising interest rate environment will be a delicate balance given its potential impact on volumes

'Good sustenance in home buying', says mortgage lender in statement

PNB Housing Finance on Friday said it has opened 'Roshni' branches in various locations, including tier II and III cities, for deepening its customer base in the affordable housing segment. Through its affordable home loan scheme Roshni, the city-based lender has also renewed its commitment towards the government's Housing for All mission, it added. Under this initiative, PNB Housing Finance will offer retail loans to individuals in the range of Rs 5 lakh to Rs 30 lakh. The company's Roshni branches inaugurated in Chennai, Coimbatore, Ghaziabad, Hyderabad, Indore/Ujjain, Lucknow, Mumbai, Nagpur, Pune, Rajkot and Varanasi will cater to customers in this segment. Borrowers can get loans for purchase of house property, self-construction, home extension/renovation, plot purchase plus construction, loan against property, among others, PNB Housing Finance said in a release. Whether loan applicants are new to credit, self-employed without formal income or salaried from a low-income group

PFL to explore inorganic investments for business growth

Four of the 10 cities in the index recorded sequential contraction, the others posted expansion

IHFL's balance sheet and AUM have stabilised and the base has been formed for 10% YoY growth in loans this financial year

The uptick in operating income reflects robustness in the home loan portfolio and hike in lending rates

Impairments on financial instruments double YoY; income from operations almost flat at Rs 2,229.7 cr

In a filing with BSE, the company said improved macro environment and sell-down capabilities were driving faster book reduction

Improvement in interest income and margins crucial for investor sentiment to revive

Loans to be offered to both retail and developers; funds being raised amid 13% expansion in loan portfolio over six months to September

Its net interest income (NII) expanded by 29 per cent YoY to Rs 649 crore in the reporting quarter.

The demand for affordable housing finance is very high, but housing finance companies have not disbursed loans up to their potential, owing to a lack of awareness among customers about such firms

Private equity-backed company losses have raised concerns about its stability

The partnership with TCS is for an end-to-end business process transformation using the integrated and collaborative blockchain-based cloud platform.

This is the second investment by ADIA in entities working in housing finance space in FY23. Last month, it concluded a deal to pick up 10% in HDFC Capital Advisors for Rs 184 cr

The company's housing finance subsidiary proposes to raise growth capital