Thaur told reporters here that the quantum of capital to be raised was yet to be decided but said Andhra Bank's stake, which at present is 59 per cent, would not go below 51 per cent.

He said the Andhra Bank Housing Finance, rated as number seven in the country among housing finance companies, had "definite plans" to increase its equity base of which he did not disclose further details.

The profit-making company was presently networking all its 16 branches in six states, he said, adding, "housing finance will be available on the net from next month."

By December this year, the company planned to set up "Housing Cafes" in 15 cities, including four in Bangalore.

"At the cafes, one can walk in and walk out with provisional sanction of loan in no time," he explained.

The company, promoted by Andhra Bank with equity participation from leading institutional institution like NHB, UTI, IFCI and ICICI, has targetted housing loans to the extent of Rs 150 crore in the current financial year."The company has aimed at cumulative housing loan sanctions of Rs 1,000 crore by March 2003," he added.