HomeFirst Lending INR 240 CR Annually For Telangana Affordable Housing

HomeFirst Finance Company (HFFC) is seeing a steady demand for affordable housing as well as financing for this segment. The company is financing INR 240 crore every year in Telangana, lending in the range of INR 5 lakhs-INR 40 lakhs, with an average ticket size being INR 10 lakhs-12 lakhs. Arunchandra Jupalli, Business Head, South, HFFC, told, “In Telangana, we are present in Hyderabad and Warangal and financing about INR 240 crore every year. We are soon getting into places such as Karimnagar and Khammam. We largely cater to customers who have land and are building homes for themselves.” “We have disbursed close to INR 4,600 crore pan-India since our inception in 2010. We have seen about 50-60 per cent growth in the last 2-3 years. Despite the Covid, there has been no adverse impact on affordable housing. There is a steady demand in this segment,” he noted. HFFC is a technology driven, affordable housing finance company targeting first time home buyers in low and middle-income groups, primarily offering customers housing loans for purchase or construction of homes. Over the last 10 years, the firm has sanctioned home loans to over 50,000 customers in 60 districts of 11 States of India including Telangana. The company has ensured that its financing model keeps the NPAs (non-performing assets) low at less than two per cent.