GIC Housing Finance Limited Company Profile : Products,Promoters and Clients
GIC Housing Finance Limited Company
This company formerly known as 'GIC Grih Vitta Limited', was incorporated on December 12, 1989, with a name change following on November 16, 1993. Specializing in housing loans for individuals and residential construction entities, GICHFL emphasizes fair and ethical lending practices while aiming to benefit both customers and shareholders. Promoted by General Insurance Corporation of India and its former subsidiaries, GICHFL operates through 75 offices nationwide, supported by a strong marketing team and Sales Associates (SAs), and maintains partnerships with builders to facilitate financing for individual borrowers.
Finding multibagger stocks is important for building wealth. Discover potential multibaggers at Sovrenn Discovery
Q1. What are the Product and service offerings of GIC Housing Finance Limited?
The company offers a range of products, including:
- Home loans: Individual Housing Loans, Composite Loans, Balance Transfers, Repair and Renovation Loans, Home Extension Loans, and Affordable Home Loans.
- Non-Housing Loans: Loans against Property and Commercial Loans.
Q2. Who are the Promoters/Management of GIC Housing Finance Limited?
Non-Executive Director & Chairman, Mr. Ramaswamy Narayanan, a direct recruit officer since 1988, has held diverse roles at GIC over three decades. He managed global reinsurance functions, tackled challenges in the Indian insurance market, and served as CEO, UK, overseeing branch operations and strategic initiatives like "Project Parivartan."
Investing has built huge wealth for several HNI investors. Learn investing FREE OF CHARGE at Sovrenn Education
Non-Executive Director, Shri Rashmi Raman Singh serves as the Chairman and Managing Director (CMD) of The Oriental Insurance Company Limited (OICL), joining as a direct recruit officer in 1987. With over 36 years of experience in the insurance industry, he has held various positions and managed portfolios including Marketing, Technical, and Foreign Operations. He has international experience from his tenure at OICL's Dubai branch. Prior to his current role, he served as MD & CEO of Health Insurance TPA (HITPA) and held additional charges as Chief Executive of General Insurance Public Sector Association and as General Manager & Director of OICL.
Non-Executive Director, Smt. Rajeshwari Singh Muni assumed the role of Chairman-cum-Managing Director of National Insurance Company Limited on September 1, 2023. With 35 years of experience, including roles at United India Insurance Company Limited and Agriculture Insurance Company of India Limited, she specializes in Crop Insurance. Her expertise spans regional management and various portfolios, demonstrating exceptional performance and dedication throughout her career.
Q3. Who are the Clients of the GIC Housing Finance Limited?
The company's loan portfolio is primarily composed of individual home loans, including renovation loans, which make up 90% of the total, followed by loan against property (LAP) at 10%.
Also Read: PTC India Ltd. Company Profile : Products,Promoters and Clients