Aspire Home Finance Corporation Ltd (AHFCL), a housing finance company promoted by Motilal Oswal Financial Services Ltd (MOFSL) and active in affordable housing space, has crossed the milestone of providing housing finance assistance to more than 50,000 EWS (Economically Weaker Section)/ LMI (Lower and Middle Income) customers towards purchase of affordable housing units since its inception.
Aspire Home Finance started its business operations in June 2014 post receiving the Certificate of Registration (CoR) from the National Housing Bank (NHB). Within 35 months, it has emerged as one of the fastest growing housing finance companies in India. As of March 31, 2017, Aspire Home Finance has a loan book of Rs 4,142 cr with an average loan size of Rs 9 lakh on the portfolio.
Speaking on the occasion, Motilal Oswal, Chairman and Managing Director, MOFSL, said, “It is indeed a momentous occasion for all of us and very heartening to see the company reaching the milestone of servicing more than 50,000 customers cumulatively in such a short span of time. Aspire was conceptualized with an intent to provide much required demand side support in the affordable housing space at the retail level and ensure that the deserving customers in this segment do get the necessary credit access to purchase their dream homes. Our belief in this segment has not only been validated but the response that we have received from stakeholders across the housing finance spectrum, including our customers, has been overwhelming. Our brand continues to be endorsed by these 50,000 customers. It is a great privilege to cater to them at highest levels of customer service and we are confident of maintaining the same standards in future as well”.
He added, “Increasing thrust by the central Government in affordable housing space augurs well for the sector. Aspire Home Finance is a Primary Lending Institution (PLI) under the Pradhan Mantri AwaasYojana (PMAY) and we look forward to meaningfully contribute towards Government of India’s mission “Housing for All by 2022”.
Anil Sachidanand, MD & CEO of Aspire Home Finance, said, “Aspire Home Finance is India’s only national affordable housing finance company that has exclusive focus on retail home loans with the maximum loan size not exceeding 25 lakh. Our product and service offerings have been designed in line with the needs of our customers and our processes have been attuned to provide a positive moment of truth to them. In fact, we take pride in the fact that we have been successfully able to offer home loan solutions to one of the most overlooked sub category within the low income customers and that is the working women in low income segment through MALA (MahilaAwas Loan from Aspire) program, which is an all women home loan division.”