Edelweiss Housing Finance Ltd (EHFL), part of financial services provider Edelweiss Group, announced on Tuesday that its balance-sheet has topped Rs 750 crore within 18 months of commencement of housing finance business.
Focussing mainly on retail housing loans, the company is looking at expanding its footprint across major cities in India taking its foothold to nine cities by the month-end and 19 cities within two years, Mr Anil Kathuri, Head-Retail Finance, Edelweiss group and Chief Executive Officer of EHFL, said.
It plans to have centres at Surat and Baroda.
The company is looking at raising up to Rs 200 crore through the National Housing Bank some time in June this year, when new loan applications are taken up, he said.
Addressing a press conference here, announcing the launch of its operations in Hyderabad, Mr Kathuri said “we are targeting a loan book of Rs 300 crore from Hyderabad by 2015 of the projected total loan book of Rs 6,000 crore by March 2015,” he said.
The approach to the housing finance business was based on offering differentiated products and Internet-based sales and fulfilment process for applicants. By offering loans repayable over 25 years, a borrower can access a larger loan amount or a smaller monthly instalment, he said.