To rest its foothold in the R1.9 lakh crore housing finance business in India and to grow fast, Edelweiss Housing Finance Limited (EHFL) is looking at introducing innovative products on the global line apart from providing niche services. The company, which is well capitalised by the promoters, is averse to PE funding now and plans to raise funds through NCD, borrowings from banks, FIs and NHB for R1,000 crore during this financial year, said Anil Kothuri, CEO, EHFL.
Speaking to the FE on Thursday, Kothuri said: “We are targeting to grow above the industry average growth of 17% to 18% per annum and would have disbursed R3,000 crore in FY15 with a cumulative business of R6,000 crore.? The company will break even by the end of current financial year, he said.
“Unless others, the company seeks to introduce innovative products such as utilising MFs, shares for downpayment by the customers to enable them avail/access to loans from company, bringing down the interest rate burden with tax free instruments/products. There are so many products which are prevalence in the global markets to reach out to customers while taking on competitors in a big way. we are looking at introducing such products going forward,” he said.
On fund raising plans, he said: “We have no plans to raise funds from PEs. We are well capitalised by the promoters. However, we will raise Rs 1,000 crore this financial year. We have options to go for NCDs, borrowings from banks and National Housing Bank (NHB) to meet our growth requirements.?