Grihashakti expands presence across India

Posted by: at 11/15/2016 11:10:00 pm

The company has added 21 new branches, taking its total network strength to 41 branches pan India in the first year of launch
                                                                                                       
Bangalore, 16 November 2016: Fullerton India Home Finance Company Limited, a housing finance company and a wholly owned subsidiary of Fullerton India Credit Company Limited, expands its presence across the country through the launch of 21 new branches across Maharashtra, Gujarat, Madhya Pradesh, Rajasthan, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana and West Bengal.  With the launch of these new branches, the company’s total branch network in the country has now touched 41.

Grihashakti expands presence across India


Through the launch of its new branches, it aims to reach out to new customers across the length and breadth of the country by offering products such as Home Loans, Loans against Property and Commercial Property Loans to individuals largely in the affordable housing segment.

Commenting on the launch, Mr. Ravindra Rao, Chief Executive Officer, Fullerton India Home Finance Company said, “Owning a home of your own is always a special feeling and at Grihashakti, we help our customers realize this dream. The newly launched branches will help us cater to a larger number of individuals across different geographies.”

Ravindra added, “The affordable housing market in India is set to grow significantly on the back of favourable factors that include the development of smart cities and an increase in disposable income of the country’s middle class. This, coupled with the Government’s focus on ‘Housing for All by 2022’ will positively impact housing demand among tier 2-4 markets of the country. Our new branches will help us cater to this demand, thus reducing the overall supply gap in the sector.”

It caters to the needs of both - salaried and self- employed individuals through its product suite and has a meaningful presence in the chosen markets. The company maintains a focus on tier 2-4 markets in the country. Grihashakti is among the first few housing finance companies to offer digital solutions to its customers, thereby facilitating faster turnaround time while availing loans. The company has also adopted alternate distribution channels and internet & mobile technology for speedy loan application and disbursal of loans.


About Grihashakti - Fullerton India Home Finance Company Limited:

Fullerton India Home Finance Company Limited (FIHFC) is a housing finance company in India and a wholly owned subsidiary of Fullerton India Credit Company Limited. The company closed its books at Rs.24.2 crores in the financial year ending March 31st, 2016. The company is headquartered in Mumbai and operates through a network of 41 branches spread across 9 states – Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Andhra Pradesh, Telangana and West Bengal. Fullerton India Home Finance Company Limited received its housing finance license in July 2015 from the National Housing Bank.

About Fullerton India Credit Company Limited:

Fullerton India Credit Company Limited (FICCL) is one of India’s leading Non-Banking Finance Companies (NBFC). The total revenue of the company for the fiscal year ending March ’16 stood at Rs.2, 277 crores. As on September 30th, 2016, the AUM of the Company stood at Rs.12, 586.8 crores, serving over 16.5 lakh customers through a widespread network of 527 branches spread across 22 states and 3 union territories, reaching out to 600 towns and over 51,000 villages in the country. Fullerton India offers several retail finance products for varying needs of customers ranging from rural households to SMEs, in the locations it serves. In February 2016, Fullerton India launched its housing finance company – Grihashakti. . The company is headquartered in Mumbai and operates through a network of 41 branches spread across 9 states – Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Andhra Pradesh, Telangana and West Bengal. Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.


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