Fullerton India Home Finance (FIHF) will focus on the mass segment in the housing loan market targeting the under served sections, according to Rakesh Makkar, Managing Director of the home finance company.

Fullerton India Credit Company, a non-banking finance company, plans to tap the housing finance market through FIHF which is its subsidiary. FIHF, with the brand name Grihashakti, will cater to the affordable housing and lower end of the market with focus on home loans in the range of about ₹ 7-10 lakh.

This segment of the market is under served and there is a huge demand, he said addressing media persons to announce the launch of the housing finance business.

Fullerton India’s experience in the NBFC segment catering to small businesses will support FIHF’s growth as the customer profile is similar, he said.

Fullerton India has over 445 branches across 22 states and a customer base of 13.51 lakh which is growing by about one lakh a month. It offers retail finance for a range of requirements to households and SMEs.

FIHF is Mumbai-based and now has 20 branches spread across Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and West Bengal.

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