IndiaHomes to invest $20 mn,to foray into loan servicing biz
"We are planning to invest around $20 million over the next two years which would be largely used for home loan servicing for our customers as well as to increase our presence in the existing areas as for entering new markets like Ahmedabad, Chennai, Pune and Hyderabad," IndiaHomes Managing Director Samarjit Singh told PTI yesterday.
The company, formerly known as Agni Property, offers a complete turnkey of services for its customers, which include short-listing of properties, comparisons of multiple properties, site visits, market analysis and customer transactions.
IndiaHomes has so far invested around USD 14 million for expanding its operations in the country. These funds were raised through a mix of private equity infusion from Helion Venture Capital India and US-based Foundation Capital and through its promoters.
"USD 20 million will be raised through private equity infusion. We are likely to close a deal in this regard soon. This will also be with an international firm," Singh said, without disclosing the name of the firm.
The company will be establishing a separate entity 'India Loans' to take care of the loan servicing business, he said.
"Today it became very difficult for buyers to get home loans as they have to undergo a number of procedures. In our endeavour to provide end-to-end solutions, we
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