Edelweiss Housing Finance enters City

Bangalore is the third City, after Mumbai and Delhi. EHFL plans to have a presence in nine locations by this year and an additional 10 locations next year, EHFL CEO Anil Kothuri said.

“By 2013 we plan to be in 19 locations and cover 90 per cent of the mortgage market”, he added.  EHFL, which offers home loans and other mortgage products, is targeting a loan book of Rs 1,000 cr from Bangalore by fiscal year 2015.

The company plans to offer differentiated products on the lines of those available overseas and those which are customised to meet the needs of different segments.

“The current housing finance market size is about Rs 1.5 trillion. We expect it to double by the end of fiscal year 2015. We expect to capture about two per cent of the market over the next five years. This should give us a loan book of about Rs 1,000 crore by 2015 in Bangalore”, he said.