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Aadhar Housing Finance, formerly known as DHFL Vysya Housing Finance, is looking to infuse ₹300-crore capital during 2018-19.
“This capital will be used to fund our expansion programme to increase our reach to new markets to cater to loans for affordable homes,” Managing Director and Chief Executive Officer Deo Shankar Tripathi told BusinessLine .
Aadhar Housing Finance will close this fiscal with a loan book of ₹8,000 crore.
“During FY19, we are aiming to achieve a 50 per cent growth in loan book to ₹12,000 crore,” he said.
Aadhar is a subsidiary of Wadhawan Global Capital (WGC) with equity participation from DHFL and International Finance Corporation. While IFC holds 17 per cent, the rest of the stake is held by the promoters.
Tripathi said the inherent strengths of the company, along with branch expansion to take the number of branches to 335 next year from the existing 275, expanding operations to two new States of Assam and Himachal Pradesh, and the positive impact of the merger of Aadhar Housing Finance and DHFL Vysya Housing Finance will help in achieving growth.
Aadhar is ‘comfortable’ with 0.6 per cent non-performing assets (NPAs). “Our average ticket size is ₹9 lakh now while the maximum ticket size is ₹25 lakh. About 90 per cent of our loan book is below ₹25 lakh,” he said, adding that the customers were those who actually need homes and very unlikely to default.
On the industry scenario, he said the real estate market has been looking up in the last three months after the impact of demonetisation and GST.
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