Shriram Housing Finance to get Rs 500 cr capital infusion

17 May 2021 CW Team

To aid the affordable and mid-segment housing, Shriram City Union Finance (SCUF) has invested Rs 200 crore in its housing finance subsidiary, Shriram Housing Finance Ltd (SHFL).

The board of SCUF also approved an investment of Rs 500 crore in Shriram Housing Finance Ltd over the coming two years. An amount of Rs 200 crore has been invested now.

The current investment of Rs 200 crore will increase the SCUF's holding in SHFL from 77.25% to 81.16%. The funds received will be used to provide growth capital to the fast-growing HFC that will enable it to expand its network and client base.

The network of Shriram Housing Finance was Rs 576 crore on 31 March 2021, which has raised to Rs 776 crore with this investment.

In the currently declared financial result for FY 21, Shriram Housing Finance has announced growth in its AUM of 70%. YoY with the highest quarterly and annually disbursements of Rs 1,005 crore and Rs 2,195 crore respectively. It ended FY 21 with a PAT of 620 million and a strong 32% growth in the year.

The ROA stands at a good 2.5%.

Shriram Housing Finance Ltd is a housing finance company registered with the National Housing Bank (NHB) and promoted by the SCUFL started operations on December 11. It is among the fastest moving, profitable, and affordable housing finance companies with a network of more than 80 branches.

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Also read: Dubai’s Mark AB Capital to acquire 26% stake of Shriram EPC

Also read: Indiabulls, HDFC join hands to offer home loans at competitive rates

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