India Shelter Finance Limited Company Profile: Products, Promoters and Clients

India Shelter Finance Company Description:

India Shelter, a rapidly expanding affordable housing finance company, specializes in the housing finance sector with a strong emphasis on promoting affordable housing initiatives and enhancing financial inclusion. Offering a comprehensive range of tailored home loans for low-income profiles, India Shelter has established a legacy rooted in trust and innovation, serving as a cornerstone in the journey of countless individuals towards homeownership.

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

The company offers a range of mortgage financing solutions, including Home Loans for both purchase and construction purposes, as well as Home Renovation Loans. Additionally, they provide Loan Against Property, allowing customers to leverage the value of their property to meet their financial needs.

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

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Sudhin Bhagwandas Choksey serves as the Chairman and Non-Executive Nominee Director of the Company. He earned his bachelor’s degree in commerce from The Syndenham College of Commerce and Economics, University of Bombay, Mumbai, Maharashtra. Additionally, he is a member of the Institute of Chartered Accountants of India. Previously, he held positions at Gruh Finance Limited as the managing director and Bandhan Bank as executive director (designate), gaining valuable experience in the banking sector.

Rupinder Singh, the Managing Director and Chief Executive Officer of the Company, holds a postgraduate diploma in business management from FORE School of Management, New Delhi, Delhi. He previously served as senior vice-president and business head at Cholamandalam Investment and Finance Company Limited, senior vice-president at HDFC Bank Limited, and regional sales manager at GE Money Financial Services Limited accumulating extensive experience in the finance sector.

Rachna Dikshit serves as an Independent Director of the Company. Holding a bachelor’s degree in arts from Lucknow University, Uttar Pradesh, and a master’s degree in arts (political science) from University of Allahabad, Prayagraj, Uttar Pradesh, she is also a certified associate of the Indian Institute of Bankers. Previously, she held the position of chief general manager at the Reserve Bank of India, bringing with her extensive experience in the banking sector.

Q3. Who are the Clients of the company?

In FY24, the company experienced substantial expansion, establishing 223 branches across 15 states, enabling disbursements of INR 2,646 crore and managing an AUM of INR 6,084 crore. Key states like Rajasthan, Maharashtra, and Madhya Pradesh continued to contribute significantly to the AUM, with Rajasthan leading with 61 branches and 31% AUM share, followed by Maharashtra with 31 branches and 20% AUM share, and Madhya Pradesh with 28 branches and 13% AUM share. Despite this growth, operational efficiency remained high, reflected in an Opex/AUM ratio of 4.5%, and the company achieved a commendable ROE of 14.0% while maintaining a GNPA ratio of 1.0%.

Written By: Khush Kothari

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