Nurturing Hopes, Homes and Happiness.

An emotion called home. It evokes a sense of comfort and belonging. It is an extension of one who lives in. A home is a place where memories are created. It the most beautiful four walls made of brick and beams.

Owning a home is a dream that millions of Indians aspire for each day. It is one of the biggest milestones that people spend their lives wishing for. And we at IIFL Home Finance Limited, help turn these dreams into reality. We make the aspirations of our customers tangible through our affordable home loans.

We help the economically weaker sections and the underserved segments of the society through accessible loan offerings, ensuring a secure future. Our aim is to nurture and promote sustainable living for our customers. Our endeavour is to promise a better life with access to better health and hygiene. As one of the leading fintech housing finance companies in the country, we are well placed with end-to-end digitised processes, strong competencies and great customer service.

We believe in our integrated vision of creating efficiency through focused efforts in our four growth pillars i.e. employees, organisation, society and environment. With responsible, ethical and transparent business strategies, we remain committed to building sustainable value for all our stakeholders.

Our Journey in Numbers

₹184,947 million

Assets Under Management as on March 31, 2020

₹17,752 million

Total Income for the year ended March 31, 2020

₹2,449 million

Profit After Tax for the year ended March 31, 2020

₹128,140 million

Loan Book

1.6% 

Gross Stage 3#

127  

Total number of branches as on March 31, 2020

₹9.4billion

Disbursements under Swaraj Home Loans as on March 31, 2020

₹9+billion

Total Subsidy provided under PMAY(U) till March 31, 2020

84% 

Loans disbursed (on units) through 'Jhatpat' loan app

124,000+ 

Happy Customers

2,131 

Workforce

38,300+ 

Total beneficiaries facilitated with PMAY Subsidy through IIFL Home Loan till March 31, 2020

Fulfilling Hopes and Aspirations

IIFL Home Finance Limited at a Glance

Incorporated in 2006 and registered in 2009 with National Housing Bank (NHB), IIFL Home Finance Limited is a wholly-owned subsidiary of IIFL Finance Limited. The Company is one of India’s leading housing finance companies and is a preferred choice for affordable home loan requirements.

The Company’s comprehensive product suite includes small ticket sized home loans, secured MSME Loans and project loans. Through accessible home loans, pan-India distribution network, efficient technology-led operations and transparent processes, IIFL Home Finance is well-placed to serve the needs of marginalised sections of the society.

With robust asset quality, ethical business approach and responsible social and environmental practices, the Company continues to deliver the best-in-class customer experience.

Our Comprehensive Product Portfolio

Our comprehensive suite of products cater to different segments in various geographical locations of India. Our tailor-made products and services transform the lives of millions of customers by nurturing their dreams of owning an affordable home.

Home Loans We offer customised loan for buying a new home, renovation in existing home, construction on pre owned land and purchase of land for building a house thereon. Through our home loans, we primarily cater to the housing needs of salaried, self-employed and professionals. Our product, Swaraj Home Loans, is further designed to serve customers from underserved category, with informal income documents.
Secured MSME Loans The MSME loans fulfill the needs of small and medium enterprises for meeting working capital requirement, business use and purchase of commercial property. The loans are backed by mortgage of residential or commercial properties. Our product, ‘Samman' loan provides small ticket loan for lower income segments like small traders and garment shops owners, among others.
Affordable Housing Project Loans We offer project loans to meet construction expenses of affordable housing projects of reputed developers. Through this loan category, we play a significant role in promoting Green Building initiative and Environmental, Social and Governance (ESG) aspect in the funded projects. We also have several tie-ups with developers for availing credit to property buyers under the retail home loan category.

Customer Success Stories

Harika Kurnala
Hyderabad
Loan Amount:
984,541
Subsidy Amount:
267,280
Harika wanted to shift to a better house in order to secure a better quality of life for her children. Though, Harika and her husband could barely make ends meet and owning a home with decent surroundings was like a distant dream for them. The possibilities emerged when they came to know about Pradhan Mantri Awas Yojana (Urban)-PMAY (U) subsidy and approached an IIFL Home Loan executive. Since then, everything was smooth and their loan was sanctioned and disbursed in a quick time. IIFL Home Loans not just made her dream come true, it also helped her availing the subsidy benefits under PMAY, ensuring a brighter future for her children.
Himadri Singh
Mohali
Loan Amount:
799,357
Subsidy Amount:
267,279
Himadri Singh used to live in Chandigarh with her husband and son in a rented accommodation and under unhygienic conditions. The family faced sewage and water problems. Electricity was also an issue due to transformer overloading in the nearby industrial area. It took the family a lot of search, deliberation and discussion to decide and gather courage to fight the unfavourable conditions prevailing in their rented home. They finally decided to explore the option of buying their own home. Soon, they visited IIFL Home Loans branch near their home, where they got to know about the Credit Linked Subsidy Scheme under the PMAY. The loan amount made them realise their dream of owning a home and securing a better future.

Key Financial Snapshot

Note: The GNPA and NNPA depicted in the graph are on POS. However, on AUM, the GNPA is 1.34% and NNPA is 1.08%

*Figures as per IGAAP | #Figures as per ind AS

Our Value-creating Business Model

As a role player in a socioeconomic ecosystem, we continue to create value that promotes positive outcomes for society, customers, planet and the organisation, by using our core strengths, prudent strategies and solid foundation.

Inputs

Financial Capital

Our robust capital base (equity, debt) to leverage long-term opportunities and support business operations.

Service Capital

Our extensive network of branches, touch points and state-of-the-art infrastructure to serve customers.

Intellectual Capital

Our rich expertise, high-end tech-enabled platforms and efficient processes to drive product innovation and long-term sustainability.

Human Capital

Our competent and experienced workforce that enables us to deliver products and service responsibly with better customer experience.

Social and Relationship Capital

Our holistic value creation across communities and transparent long-term relationships with customers, partners and other stakeholders.

Natural Capital

Our prudent usage of natural resources and efforts to minimise impact on environment through sustainable business activities.

Our Business Goal

As a forward-looking organisation, we contribute towards an inclusive growth by nurturing the home buying aspirations of the underserved customer segment through our affordable home loan offerings.

Our Business Process
  • Customer on-boarding
  • Tech-enabled loan processing
  • Real-time loan sanction decisioning
  • Fulfilling customer needs
  • Monitoring and collections
Key Competencies
  • Customer-first approach
  • Customised product offerings
  • Strong geographical footprint
  • Advanced digital platforms
  • Prudent credit assessment
  • Ethical and transparent processes
  • Skilled and experienced people
SUPPORTING SUSTAINABLE DEVELOPMENT GOALS (SDGs)
Value created for the stakeholders

Investors

Growing sustainable returns on investment

PAT: ₹ 2,449 million

ROE: 13.8%

ROA: 1.8%

Customers

  • Loans as per needs with better access to affordable home loans
  • Innovative and secure digital platforms
  • Seamless on-boarding journey and faster turnaround

Employees

  • Performance-based recognition and reward
  • Learning opportunities for career progression
  • Progressive work environment with seamless collaboration and engagement
  • Diverse and inclusive workforce with equal opportunity

Community

  • Financial products and services with a positive social impact
  • Access to affordable healthcare facilities
  • Empowering the marginalised sections of the society through education initiatives
  • Robust Environmental, Social and Governance practices to ensure a sustainable business

Government and Regulatory bodies

  • Strong culture of governance, and ethical and transparent practices
  • Adherence to relevant regulations and guidelines

Management Message

Chairman’s Message

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We emerged stronger with our robust business model, tech-enabled processes, a differentiated portfolio and talented workforce. Through our responsible growth strategy, we continuously created opportunities for the underserved customers by fulfilling their dreams and nurturing them every step of the way.

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From the CEO’s Desk

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As a fintech housing finance player, we are dedicated to make our customers’ journey of owning a home as seamless as possible. Our future-ready technology system helped us continue the business activities smoothly even during the pandemic. With advanced analytical tools and automation, we have made credit underwriting, appraisal and collection processes faster and accurate.

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Awards & Accolades

‘Best Company of the Year’ in Affordable Housing by DNA in November 2019
‘Best Green & Sustainable Initiative in Affordable Housing’ by ZEE Business in September 2019
‘Best Affordable Housing Finance Company of the Year’ by ET Now in February 2020
‘Technology Initiative of the Year; Jhatpat Home Loans’ by ABP News in November 2019
Award for ‘Social Media Marketing’ by ET Now in December 2019
‘Best Housing Finance Company of the Year’ by ET NOW in February 2020
‘Developing Sustainable Strategies’ by ET Now in February 2020

Board of Directors

  • Mr. S. Sridhar

    Chairman and Independent Director
      Mr. S. Sridhar is an eminent personality in the banking and finance industry and has held several senior positions in retail, corporate and export/import banking in his career of over 45 years culminating as the Chairman of NHB and Central Bank of India. In his stint as Chairman and Managing Director of the NHB, he was responsible for a number of new initiatives such as the NHB Residex, Rural Housing Fund and Reverse Mortgage for senior citizens. Prior to this, he was associated with Export Import Bank of India as Executive Director as well as State Bank of India in the early part of his career.

  • Mr. Nirmal Jain

    Non-Executive Director
      Mr. Nirmal Jain is one of the original Directors of our Company. He holds a Bachelor’s Degree in Commerce from University of Mumbai. He is a Fellow Member of the Institute of Chartered Accountants of India (held the 2nd rank) and also a Cost Accountant. He holds a Post Graduate Diploma in Management from Indian Institute of Management, Ahmedabad. He started his career in 1989 with Hindustan Lever Limited, the Indian arm of Unilever, where he handled a variety of responsibilities, including export and trading in agro-commodities. In 1995, he founded India Infoline Limited (earlier known as Probity Research and Services Private Limited). He is currently the Chairman of IIFL Finance Limited.

  • Mr. R. Venkataraman

    Non-Executive Director
      Mr. R. Venkataraman is the Co-Promoter and Managing Director of IIFL Finance Limited. He holds a B.Tech from Indian Institute of Technology, Kharagpur and MBA from Indian Institute of Management IIM, Bangalore. He joined the IIFL Group in July 1999 and has been on the Board of Directors of the Company since its inception. He has been instrumental in establishing various line of businesses over the past 19 years. He previously held senior managerial positions at ICICI Limited, including ICICI Securities, its investment banking joint venture with JP Morgan, and Barclays BZW. He worked as Assistant Vice President with GE Capital Services India in its private equity division. He has a varied experience of more than 26 years in the financial services sector

  • Mr. Kranti Sinha

    Independent Director
      Mr. Kranti Sinha is a renowned person in insurance and housing finance industry. He served as the Director and Chief Executive of LIC Housing Finance Limited and concurrently as the Managing Director of LICHFL Care Homes Limited. He was also the Deputy President of the Governing Council of Insurance Institute of India and was a Member of the Governing Council of National Insurance Academy.

  • Mr. Monu Ratra

    Executive Director and Chief Executive Officer
      Mr. Monu Ratra is a Graduate of Architecture and MBA with over 18 years of work experience in the financial services industry. Mr. Ratra has been instrumental in growth of IIFL Home Finance Limited’s loan book substantially during the past three years. Under his leadership, IIFL Home Finance Limited has aspired to become key player in affordable housing segment and to serve the need of housing finance, especially, of those who are underserved or untouched. Prior to joining IIFL Group, he was associated with Indiabulls Housing Finance Limited as National Business Manager where he was responsible for setting up and building the retail home loan business along with their home equity business. Mr. Ratra has also served HDFC Ltd., ICICI Bank.

  • Ms. Suvalaxmi Chakraborty

    Independent Director
      Ms. Suvalaxmi Chakraborty is B.Com (Hons.) and Chartered Accountant, serves as an Advisor at Transwarranty Finance Ltd and Positron Consulting Services, with advisory assignments spanning debt syndication, mergers & acquisitions and capital raising for mid market corporates, among others. She is also Advisor for Fullerton India Credit Company Limited. Ms. Chakraborty has been an Independent Director of Fortis Healthcare Limited since April 27, 2018. Prior to this, Ms. Chakraborty served as the Chief Executive Officer of India Operations at SBM Holdings Ltd. (previously known as State Bank of Mauritius Limited) from 2010 to 2013. She launched and ran the commercial banking business of Barclays Bank in India from 2007 to 2010. She held several positions at ICICI Ltd and ICICI Bank between 1989 and 2006. Ms. Chakraborty has 29 years of experience in banking and financial sector with exposure in a diverse set of businesses. She has featured in the Fortune India List of 50 most powerful women in business.

  • Mr. Sumit Bali

    Non-Executive Director
      Mr. Sumit Bali is the Chief Executive Officer of IIFL Finance Limited. He holds a B.A (Hon) from St. Stephen’s college, New Delhi, and has completed his PGDM from IIM Ahmedabad. Prior to his current role, Mr. Bali spent 24 years with Kotak Group. His last position at Kotak Mahindra Bank was of Senior Executive Vice President, overseeing consumer banking retail asset products including home loans, loan against property, credit cards, salaried personnel loans and SME loans. Previously he also held the position of Chief Executive Officer of Kotak Mahindra Prime Limited (KMPL) and also was a Director on KMPL’s Board. He began his career with Glaxo India Limited in 1990 and has also worked with Asian Paints (I) Ltd. Mr. Bali is a seasoned banker with an experience of 29 years in the Indian corporate sector.

  • Mr. A. K. Purwar

    Independent Director
      Mr. Arun Kumar Purwar works as Chairman of Eroute Technologies Private Limited, a fintech Co. He also works as an Independent Director in Companies across diverse sectors like power, telecom, steel, engineering consultancy, pharma and financial services. He also acts as an advisor to Mizuho Securities, Japan. He was Chairman of the State Bank of India (“SBI”) from 2002 to 2006 and Chairman of the Indian Bank Association during 2005 to 2006. He has previously held positions such as Managing Director of State Bank of Patiala and has been associated in the setting up of SBI Life. Post his retirement from SBI, he was associated with a leading industry house in setting up the first healthcare focused private equity fund as well as a non-banking finance company focused on funding real estate projects as well as educational institutions.

Initiatives During the Year

Combating the Impact of COVID-19

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Marketing Initiatives

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Nurturing a Better Future

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Nurturing Technology Architecture

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Growing Together with Our Competent Team

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Environmental, Social and Governance Initiatives

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Creating a Positive Social Impact

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