Affordable housing finance company SMFG Grihashakti has secured Rs 300 crore funding from National Housing Bank (NHB).

This is the company's maiden long-term loan from NHB and opens up an additional avenue for long-term, low-cost funding, it said, adding that the money will help it expand its financing solutions to the under-served population, SMFG Grihashakti Chief Executive Deepak Patkar, said.

As of December 2023, it had Assets Under Management (AUM) of Rs 8,028 crore, which grew 37 per cent year-on-year.

SMFG Grihashakti provides home loans, loans for home improvement, home construction and extension, loan against property, and for purchasing commercial property, apart from project construction financing.