The Managing Director of Aadhar Housing Finance, a leading NBFC focuses on affordable housing finance, outlines his company’s targets for fiscal year 2024-25. The company aims to mobilize a very large amount of funds in the next financial year. Aadhar Housing Finance Limited intends to mobilize Rs 6,000 crore during FY25. Non-Convertible Debentures (NCDs) contribute around 20 percent of the total borrowing. May has also borne fruit for the company as it was able to mobilize Rs 1,000 crore through the issuance of fresh equity. We are talking about Aadhar Housing Finance to Raise Rs 6,000 Crore in FY25.
Asset Composition and Customer Segments
Housing loans account for 75% of the largest debt portfolio, while loans against property account for the remaining 25%. The company serves corporate borrowers/ employees, wage earners (57% of its loan portfolio), and the self-employed market. The average ticket size of loans remains at Rs 10 lakh and above.
Co-Lending Partnerships
About 70 percent of its loans are disbursed to the economically weaker sections and the low-income groups eligible for priority sector lending. Aadhar Housing Finance has tied up with Punjab National Bank and UCO Bank for co-lending facilities. The co-lending book has thus far reached around Rs 500 crore.
YES Bank Aadhar Housing Finance partnership has introduced several services, including home loans for salaried employees, loans for plot purchase and construction, home improvement loans, loans against residential and commercial property, balance transfers, and top-up loans. This alliance is based on the existing market presence and customer trust of YES Bank, as well as Aadhar’s network and modern IT facility.
For co-lending, Punjab National Bank (PNB) and Aadhar Housing Finance have recently come together. To this end, they provide home loans to their customers from the lower and middle-income brackets, affording the best interest rate possible. Aadhar Housing Finance forges a strategic partnership with UCO Bank to offer effective and affordable home loan products. The goal of this partnership is to ensure that multiple customer segments are reached and that access to housing finance is improved.
Growth Prospects
As of March 31, the Assets Under Management (AUM) stood at Rs 21,100 crore, representing a YoY growth of 23%. Credit and other disbursements rose to Rs 7,100 crore in 2023-24 (April-March), up 20% YoY. The Pradhan Mantri Awas Yojana (PMAY) is likely to enhance incremental disbursals by 10-15%. Nonetheless, Aadhar Housing Finance has indicated that the definition of ‘urban’ may need reconsideration for metro peripheral towns to facilitate equitable subsidies.
Customer Services of Adhar Housing Finance
Customer satisfaction takes a central stage at Aadhar Housing Finance, which is always keen on how its customers are treated. Aadhar Housing Finance has effective two-way communication with customers as a way of managing its customer relations. When you have issues with the loan products, documents, or any repayment plan, you can get in touch with their customer service. Regarding the loan application process, the company offers assistance to its clients. They assist the applicants in knowing more about the requirements and documents needed, as well as the loan process.
After the loan is disbursed, Aadhar Housing Finance will remain in touch with its borrowers. Regarding queries associated with loan servicing, EMI payments, and loan account management, they respond appropriately. Additional services by Aadhar Housing Finance include online portals and mobile applications to enable customers to check their accounts at their convenience. Lenders can monitor their loan status, review statements, and make payments from the comfort of their ends. As for the disputes, the company has a separate grievance redressal system in place. Their goal is to address customer issues and complaints in the shortest time possible.
Conclusion
Aadhar Housing Finance has a focus area on affordable housing and its identified plans for raising funds make it poised for growth in the coming fiscal. The company also remains relevant amidst the growing and evolving customer groups, thereby remaining relevant in the housing finance space in India. Aadhar Housing Finance has set up co-lending arrangements with multiple banks to provide home loans at reasonable interest rates.
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