Edelweiss Housing Finance Ltd (EHFL), the housing finance arm of Edelweiss Group, one of India’s leading financial services conglomerates, recently launched its operations in Chennai and is targeting a loan book of Rs. 600 crore from the city by 2015. This was disclosed by Mr. Anil Kothuri, Head - Retail Finance, Edelweiss Group & CEO, Edelweiss Housing Finance who was in Chennai to launch operations.
Currently operational in Mumbai, Delhi, Pune, Ahmedabad, Hyderabad, Bengaluru, Baroda & Surat EHFL has now launched housing finance business in Chennai which is the sixth most populous metropolitan city in the country.
Mr. Kothuri said, “Over the years Chennai has seen rapid growth backed by good infrastructure, a growing middle class population and a stable security, law & order situation. Further there is ample scope for the city to expand in all directions. Going forward we expect to establish a strong Housing Finance business in the state. EHFL’s approach to the Housing Finance business will be based on offering differentiated products & a superior Internet based sales and fulfillment process for applicants. EHFL offers housing loans repayable over 25 years & for a lower tenure. This could give the borrower a larger loan amount or a smaller monthly installment"
Speaking about the Mortgage industry in India, Mr. Kothuri said “The current housing finance market size is about Rs. 1.9 trillion and we expect it to grow to Rs. 3 trillion by the end of 2014-15. We expect to capture about 1% of the market over the next five years.”
Recently, EHFL has commenced lending to the Small and Medium Enterprises (SMEs) segment both on the secured & unsecured side.
EHFL is looking at expanding its presence to Ten more cities in India in the next two years with a disbursement volume of Rs. 3000 crore by 2015.
The Edelweiss group already has a presence in Chennai through Edelweiss Financial Advisors, a group company. EHFL will use these outlets for distribution and also add some more branches.
About Edelweiss Financial Services
Edelweiss is one of India’s leading diversified financial services Group. Edelweiss offers a large range of products and services spanning across asset classes and consumer segments. Its businesses are broadly divided into Credit including Housing Finance & Fixed Income agency business, Capital Markets including Asset Management, Commodities, Treasury & Life Insurance. The group’s research driven approach and proven history of innovation has enabled it to foster strong relationships across corporate, institutional and individual clients.
The Life Insurance, Housing Finance, Mutual Fund & Retail Broking businesses – both online and offline formats, have paved the way for Edelweiss to cater to the large retail client segment. Edelweiss presence now covers about 240 offices in 120 cities with 3110 employees. Together with Sub-Brokers and Authorized Persons network, Edelweiss group has presence across nearly 700 cities in India.
Edelweiss Financial Services trades under the symbols NSE: EDELWEISS, BSE: 532922, Bloomberg: EDEL.IN, Reuters: EDEL.BO. To learn more about the Edelweiss Group, please visit www.edelweissfin.com .
For More Details, please contact:
Mr. Krishna Moorthy – 9442191717
Ketchum Sampark, Chennaikrishnamoorthy.s@ketchumsampark
Currently operational in Mumbai, Delhi, Pune, Ahmedabad, Hyderabad, Bengaluru, Baroda & Surat EHFL has now launched housing finance business in Chennai which is the sixth most populous metropolitan city in the country.
Mr. Kothuri said, “Over the years Chennai has seen rapid growth backed by good infrastructure, a growing middle class population and a stable security, law & order situation. Further there is ample scope for the city to expand in all directions. Going forward we expect to establish a strong Housing Finance business in the state. EHFL’s approach to the Housing Finance business will be based on offering differentiated products & a superior Internet based sales and fulfillment process for applicants. EHFL offers housing loans repayable over 25 years & for a lower tenure. This could give the borrower a larger loan amount or a smaller monthly installment"
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| Mr. Anil Kothuri |
Speaking about the Mortgage industry in India, Mr. Kothuri said “The current housing finance market size is about Rs. 1.9 trillion and we expect it to grow to Rs. 3 trillion by the end of 2014-15. We expect to capture about 1% of the market over the next five years.”
Recently, EHFL has commenced lending to the Small and Medium Enterprises (SMEs) segment both on the secured & unsecured side.
EHFL is looking at expanding its presence to Ten more cities in India in the next two years with a disbursement volume of Rs. 3000 crore by 2015.
The Edelweiss group already has a presence in Chennai through Edelweiss Financial Advisors, a group company. EHFL will use these outlets for distribution and also add some more branches.
About Edelweiss Financial Services
Edelweiss is one of India’s leading diversified financial services Group. Edelweiss offers a large range of products and services spanning across asset classes and consumer segments. Its businesses are broadly divided into Credit including Housing Finance & Fixed Income agency business, Capital Markets including Asset Management, Commodities, Treasury & Life Insurance. The group’s research driven approach and proven history of innovation has enabled it to foster strong relationships across corporate, institutional and individual clients.
The Life Insurance, Housing Finance, Mutual Fund & Retail Broking businesses – both online and offline formats, have paved the way for Edelweiss to cater to the large retail client segment. Edelweiss presence now covers about 240 offices in 120 cities with 3110 employees. Together with Sub-Brokers and Authorized Persons network, Edelweiss group has presence across nearly 700 cities in India.
Edelweiss Financial Services trades under the symbols NSE: EDELWEISS, BSE: 532922, Bloomberg: EDEL.IN, Reuters: EDEL.BO. To learn more about the Edelweiss Group, please visit www.edelweissfin.com .
For More Details, please contact:
Mr. Krishna Moorthy – 9442191717
Ketchum Sampark, Chennaikrishnamoorthy.s@ketchumsampark
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