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Aspire Home Finance cumulatively disburses Rs 1000 crs in first 16 months of business operations

01-Jan-1970  Mumbai

Aspire Home Finance cumulatively disburses Rs 1000 crs in first 16 months of business operations
AHFCL  looks forward to provide housing finance assistance to 1000 Families under Pradhan Mantri Awaas Yojana (PMAY) scheme

3rd November’15, Mumbai : Aspire Home Finance Corporation Limited ( MOFSL group company), a professionally managed housing finance company focusing on providing housing finance assistance to lower and middle income families towards purchase of affordable housing units has crossed the milestone of Rs.1000 crs of cumulative disbursements in first 16 months of business operations. In the process, AHFCL has helped 10,000 Indian families to realize their dream of owning a home. AHFCL has registered a profit of Rs.12.89 crs for the first half of the current financial year (H1 FY’2015-16). AHFCL is now present at 37 locations across Maharashtra, Madhya Pradesh, Gujarat and Telangana.
Mr. Anil Sachidanand, MD & CEO of AHFCL says, "We feel extremely happy to have crossed this milestone in such a short span of time. What is more heartening is the fact that our average ticket size still remains at Rs.10 lakhs, which reflects the commitment of AHFCL team towards realization of home owning aspirations of lower and middle income Indian households. We continue to remain focused on providing hassle free housing loan assistance towards purchase of affordable housing units with maximum loan size up to Rs.25 lakhs. We are also qualified as a primary lending institution (PLI) under Pradhan Mantri Awaas Yojana (PMAY) and look forward to contribute positively in Government of India's mission of Housing for All by 2022 for Urban poor through this scheme."
AHFCL is also rated as "CRISIL A+/Stable" by CRISIL and “[ICRA]A+(Positive)” by ICRA for long term borrowings and "ICRA A1+" by ICRA for short term borrowings. Mr. Kalpesh Ojha, CFO of AHFCL says, "AHFCL has a healthy liability mix as our borrowings comprise of long term borrowings from banks, non-convertible debentures and short term commercial papers. We have a strong funding pipeline to support the Company's growth plans. We are 16 months old and we have just begun. However, even in such a short span of time, we are creating a new paradigm for growth in the Indian home finance industry"
Mr. Satish Kotian, COO of AHFCL adds, "Our business model is scalable and we have set up robust business processes to complement our growth expectations. As of today, AHFCL consists of 324 employees across 37 locations plus head office in Mumbai and our investment in creating infrastructure enabled with technology support has been hand-in-hand with business growth. Further, with centralized set up with decision making at the Head Office as well as strong risk assessment practices at every stage of loan processing, there has been a build up of quality loan book"
With an aim to provide housing finance to working women in low income segment, AHFCL has also launched MALA (Mahila Awaas Loan from Aspire) program which is an All women division providing home loans to women customers in the range of Rs.2-12 lakhs. AHFCL has also received "India's most Admired and Valuable Housing Finance Company" award at India Leadership Conclave 2015, which is a testimony to the admiration received from all stakeholders. AHFCL is promoted by Motilal Oswal Financial Services Ltd (MOFSL) - a well diversified, financial services company focused on wealth creation through knowledge. AHFCL is managed by a team of professionals having strong experience in Indian housing finance market and headed by Mr. Anil Sachidanand, a veteran of over 25 years in Indian home finance industry

About Aspire Home Finance Corporation Limited (AHFCL)
Aspire Home Finance Corporation Limited (AHFCL) is a professionally managed housing finance company which works on the business philosophy of providing long term housing finance to target lower and middle income customers towards purchase of affordable housing units. The Company started its business operations from June 2014. 
As of September 30, 2015, AHFCL has cumulatively disbursed Rs.1000 crs and has provided long term housing finance to more than 10000 Indian families with an average loan ticket size of Rs.10 lakhs. AHFCL is a subsidiary of Motilal Oswal Securities Limited (MOSL) which is a part of Motilal Oswal Financial Services Limited (MOFSL), a diversified financial company focused on wealth creation through knowledge. Mr. Motilal Oswal is the Chairman of AHFCL Board. 
AHFCL is managed by a team of professionals having strong experience in Indian housing finance market and headed by Mr. Anil Sachidanand, a veteran of over 25 years in Indian home finance industry. The Company has its presence in Maharashtra, Madhya Pradesh, Gujarat and Telangana.
AHFCL has been rated “CRISIL A+/Stable” by CRISIL and “[ICRA]A+(Positive)” by ICRA for long term borrowings and “ICRA A1+” by ICRA for short term borrowings.

About Motilal Oswal Financial Services Limited
Motilal Oswal Financial Services Ltd. (NSE: MOTILALOFS, BSE: 532892, BLOOMBERG: MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 2,036 business locations spread across 637 cities and the online channel to over 873,176 registered customers. MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions. Motilal Oswal Securities (MOSL) won the ‘Best Performing National Financial Advisor Equity Broker' award at the CNBC TV18 Financial Advisor Awards 2014 for the 4th year in a row. MOSL won the ‘Best Research as Research Showcase Partner’ at Research Bytes IC Awards 2014. Motilal Oswal Private Equity Private Equity won the ‘Best Growth Capital Investor-2012’ award at the Awards for PE Excellence 2013. Motilal Oswal Private Wealth Management won at the UTI-MF CNBC Financial Advisor Award in HNI Wealth Management category for 2015. Aspire Housing Finance won the “Most Admired and Valuable Housing Finance Company 2015” at the 6th India Leadership Conclave 2015. MOSL won the Best Broking House - Institutional Segment and Cash Segment at the Dun & Bradstreet Equity Broking Awards 2015.

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