Home First Finance Limited Company Profile: Products, Promoters and Clients

Home First Finance Company Description:

Home First Finance Company India Limited (Home First) is a housing finance company established on February 3, 2010, with offices across various Indian cities. It received its housing finance institution license from NHB on August 11, 2010. Home First became a public limited company on March 14, 2018, and was listed on stock exchanges on February 3, 2021. The company primarily offers housing loans, loans for purchasing commercial property, and loans against property (LAP). 

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Q1. What are the Product and service offerings of the company?

The company offers a comprehensive range of loan products designed to meet the diverse needs of its clientele. Their portfolio includes Home Loans for Salaried Professionals and Home Loans for the Self Employed, catering to different employment types. They also provide Home Construction Loans and Home Extension & Renovation Loans for those looking to build or improve their homes. For leveraging property assets, they offer Loan Against Property. Non-resident Indians can benefit from their Home Loans for NRIs, while Home Loans for Senior Citizens are tailored to the elderly demographic. Additionally, they facilitate Home Loan Balance Transfers and Home Loan Top Ups for those looking to optimize their existing loans. The company also extends Shop Loans and Loans for the purchase of Commercial Property, addressing the needs of business and commercial property investments.

Q2. Who are the Promoters/Management of the company?

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Manoj Viswanathan, Chief Executive Officer, holds a Bachelor's degree in Electrical & Electronics Engineering from BITS Pilani and an MBA from XLRI Jamshedpur. With over 18 years of experience in consumer lending, he has expertise in automobile loans, mortgages, and unsecured lending. He played a key role in developing Citigroup's branch-based consumer lending model in India. 

Ajay Khetan, Chief Business Officer, has over 18 years of experience in consumer lending and technology, having worked at Macquarie Group, HP Financial Services, Citigroup, and Tech Pacific.

Deepak Satwalekar, Chairman and Independent Director, holds a bachelor's degree in mechanical engineering from IIT Bombay and an MBA from American University. He previously served as a director at Housing Development Finance Corporation Limited and as MD and CEO of HDFC Standard Life Insurance Company Limited. Recognized as a distinguished alumnus by IIT Bombay, he joined our Board as an Independent Director on October 23, 2019.

Q3. Who are the Clients of the company?

As of March 2024, the geographical presence of the company's gross loan assets is concentrated predominantly in five states. The distribution of these assets is as follows:

  1. Gujarat holds the highest percentage of gross loan assets, accounting for 31.2%.
  2. Tamil Nadu comes in second with 14.0% of the total gross loan assets.
  3. Maharashtra follows closely with 13.3%.
  4. Telangana has 8.9% of the company's gross loan assets.
  5. Karnataka accounts for 6.8%.

These top five states collectively represent a significant portion of the company's gross loan assets, highlighting the company's strategic focus and market penetration in these regions.

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