Square Capital, the mortgage advisory arm of real estate aggregator Square Yards, said it has facilitated loan disbursals worth $120 million this fiscal.

The company is on target to achieve a triple digit revenue growth for the mortgage advisory business, a company statement said.

Square Capital was started a year ago to capture the captive home loan business originating from Square Yards’ real estate transactions but it soon expanded to other segments like Loan against Property (LAP) and steadily grew to be one of the largest distributor business for mortgage industry in India.

The business model is structured like a private banking business where a dedicated relationship manager helps the client during the entire borrowing process which includes credit evaluation, helping choose the right product from the appropriate lending organisation, managing documentation, advising on professional issues pertaining to taxation & insurance and assisting the client throughout the entire disbursement cycle.

The company has also started providing end-to-end financial advisory services to grade-A developers helping them in project financing, getting loan approvals from major lending institutions, structuring customer friendly payment plans and complete management of customer’s loan operations process.

Indrajit Sidhanta, Principal Partner & Business Head, Square Capital, said, “We are ramping up our connector network and planning to significantly scale up the business through investment in technology. We are co-creating a platform that can manage the entire borrowing process on behalf of the client from application to disbursement. We are integrating our systems with loan syndicators, credit rating agencies and back-end systems of lending institutions for providing a seamless experience to our customers.”

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Published on December 14, 2015