Centrum Group Nears Housing Finance Subsidiary Sale

06 Nov 2024 CW Team

The Centrum Group is expected to finalise the sale of its housing finance subsidiary by the end of this fiscal year. The company is in advanced talks with five to six investors, considering both a full sale or partial monetisation.

Centrum Housing Finance, with a net worth of ?4.5 billion and assets under management of ?15 billion, is seeking a valuation of around ?13 billion, slightly below the market capitalisation of its parent company, Centrum Capital.

"We are progressing with final due diligence, and discussions now hinge on the company's valuation," said Jaspal Bindra, Executive Chairman of Centrum Group. The group holds a 60% stake in the mortgage lender, while Morgan Stanley owns 25%, with the remaining shares held by employees and others.

The sale process has been in the works since last year when Centrum engaged EY to explore potential investors. The final decision, whether it involves a full acquisition or a majority or minority stake sale, will depend on the valuation and counterparty agreement.

Centrum transferred all its other lending businesses, except housing finance, to Unity Small Finance Bank in 2022, a bank 51% owned by the group. The housing finance business remained separate due to Morgan Stanley’s partial ownership. In December 2022, Centrum expanded its reach by acquiring the business of National Trust Housing Finance (Natrust), entering the southern market.

The sale is expected to be finalised before the end of the current financial year, with investor interest ranging from full acquisition to minority stake sales.

Real Estate

01 Dec 2025

Serene, Gardencity to Develop Rs 3 Billion Senior Living Project in Bengaluru

Serene Communities, a leading senior living brand, has partnered with Gardencity Realty to develop a premium senior living community in Budigere, one of Bengaluru’s fastest-growing residential micro-markets. The project will span approximately 300,000 sq ft, with a Gross Development Value of about Rs 3 billion, and will add roughly 250 senior-friendly residences to the city’s growing retirement housing segment.The launch forms part of Serene Communities’ national expansion strategy. The company has 11 new projects under development with a planned investment of Rs 25 billion that will add..

Alliance City Developers Marks Major 2025 Milestones in Vile Parle

Alliance City Developers Realtors has announced significant project milestones and expansions in 2025, underscoring what the company terms a transformational year. The developer completed multiple residential projects and launched two premium developments in Vile Parle (East), one of Mumbai’s most sought-after neighbourhoods.During the year, Alliance Legacy in Matunga (East) received its Occupancy Certificate (OC), while Alliance Eternis in Borivali (West) and Alliance Vista in Vile Parle (East) were granted Completion Certificates (CC), marking final project delivery. Alliance Abhimanyu is ..

Moro Hub and PwC Middle East Partner to Accelerate Smart City Solutions

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), has announced a strategic collaboration with PwC Middle East to advance Smart City, Integrated Command Centre (ICC), Critical Infrastructure Monitoring and Internet of Things (IoT) initiatives across the region. The partnership brings together Moro Hub’s digital infrastructure and IoT capabilities with PwC’s global expertise in digital trust, smart city strategy and cybersecurity to support the UAE’s vision for intelligent and sustainable cities.“Our collaboration with PwC Middle Ea..