Mortgage player Capital India Home Loan aims to double its asset book to over Rs 250 crore by the end of the current fiscal. The housing finance company promoted by NBFC firm Capital India Finance Limited (CIFL) had a loan book of about Rs 135 crore in the financial year ended March 31, 2021. ”We have just closed the financial year and the loan book should double during the current financial year,” CIFL Chairman Harsh Kumar Bhanwala told PTI. The loan book expected to touch Rs 250 crore by March 2022, he added.
Capital India Home Loans is a new-age mortgage firm with a focus on premium loan offerings to home buyers. Talking about NBFC business, Bhanwala said, the company has changed its focus from mid-corporate to SME and priority sector lending. Despite difficulties in the economy due to COVID-19, the company has been able to rein in its non-performing assets (NPAs).
CIFL — promoted by S K Narvar — has opened 7 more offices across the country. The company is a technology-enabled SME finance platform, which partners with small and medium businesses with customised finance solutions. It is also engaged in retail finance, remittance, and payments solutions. Depending on the market condition, Bhanwala said, NBFC would be raising resources to fund business growth.
The company plans to raise up to Rs 1,000 crore by issuing debt securities. The board of directors at its meeting held last week approved raising of funds, in Indian/foreign currency, of up to Rs 1,000 crore through the issue of non-convertible debentures/bonds, medium-term notes and other debt securities.