Aspire Home Finance aims to be pan-India player

Aspire Home Finance aims to be pan-India player

Forays into Karnataka market with 9 branches

Aspire Home Finance aims to be pan-India player

 In an effort to be a significant player specialising in providing finance towards purchase of affordable housing units, Aspire Home Finance (AHFCL), a subsidiary of Motilal Oswal Securities, aims to become a pan-India player.

“Over 95% of housing shortage in India is due to demand-supply mismatch in low cost and affordable housing, while of late, builders and developers have evinced interest in this segment, retail as well as project-level financing of affordable housing, still remains a big challenge,” AHFCL MD and CEO Anil Sachidanand told DH.

 Currently, the company has presence in Maharashtra (50 branches), Gujarat (23 branches), and Madhya Pradesh (11). The company has a loan book of Rs 3,600 crore with an average ticket size of Rs 10 lakh, with Return on Equity (RoE) of 17%, and Return on Asset (RoA) of 2.2%.

It lends loans at an interest rate of 12.25% to 13.5% for a period of five years to 20 years. The company plans to reach Rs 4,400 crore loan book, and 45,000 customers by this fiscal.

To generate volumes

“Within this month, the company plans to enter Karnataka, Tamil Nadu, Rajasthan, Chhattisgarh, Andhra Pradesh and Telangana with 32 branches. The expansion plan is to generate volumes and businesses in the growth agenda for the next financial year,” he said.

“If you look at the housing finance scenario, most players have regional presence. Aspire Home Finance aims to become a national player,” he added.
Sachidanand was in the city to inaugurate an office at Padmanabhanagar.

“After consolidating in these states, we will enter other states too. Ideally, we would love to have presence in all 29 states,” he said.
  AHFCL COO Satish Kotian said, “We are targeting to extend housing loans to around 750 customers by this fiscal-end, and plan to add 5,000 customers next fiscal. To ensure hassle free service, AHFCL has completely digitised processes aimed at reducing paper work so as to minimise turnaround time for processing loan application.”
Aspire was incorporated in October 2013, and commenced its business operations in June 2014. Over the last 32 months, Aspire has serviced over 36,000 Indian families. It has a staff strength of around 1,000 employees.