Muthoot Home Finance raises upto Rs 800 crore

Muthoot Home Finance raises upto Rs 800 crore
05/01/2017 , by , in ALLIED

Muthoot HomeFin (India) plans to raise up to Rs 800 crore from market next fiscal as it is expanding business in the southern part of the country.

In an interview to , company’s CEO Ramratthinam S said that Muthoot HomeFin performed “exceedingly well” in the December quarter, in which the old Rs 500/1000 notes were demonetised and the country witnessed a cash crunch.

“The company has performed exceedingly well in the December quarter by disbursing over Rs 100 crores. We have been able to achieve this disbursement number with a specific focus on end users and in lending more in ready to move in properties,” he said.

Muthoot HomeFin intends to enter new geographies in the South by commencing business operations in the states of Tamil Nadu, Andhra Pradesh, Telengana and Karnataka in the next fiscal.

Ramratthinam further said the company would be “aggressively marketing” the interest subsidy schemes on loans up to Rs 12 lakh for rural and urban housing announced by the Prime Minister on the eve of New Year.

“We are also targeting builders who are executing projects in these ticket size and would enter into a tie up with them by approving their projects,” he said.

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