Aspire Home Finance Corporation Ltd (AHFCL), a company promoted by the Motilal Oswal Group, has announced that it has received Certificate of Registration from the National Housing Bank (NHB). AHFCL would be commencing its operations with a mission
Aspire Home Finance Corporation Ltd (AHFCL) receives
Certificate of Registration from NHB to commence business
Wednesday, May 21, 2014: Aspire Home Finance Corporation Ltd (AHFCL), a company promoted by the Motilal Oswal Group, has announced that it has received Certificate of Registration from the National Housing Bank (NHB).
AHFCL would be commencing its operations with a mission to provide housing finance to affordable residential housing units across India thereby targeting to enhance housing stock in the country. The Company would be focusing on customers aspiring to own a home through purchase and construction of affordable housing units with loans up to Rs.25 lakhs.
Initially, AHFCL would be present in geographies across the Country which includes extended suburbs of Mumbai, Pune, Nagpur, Akola, Nasik, Indore, Ahmedabad, Surat, Vadodara and Bhopal with corporate office in Mumbai.
Speaking on the occasion, Mr. Anil Sachidanand, Managing Director & CEO, Aspire Home Finance Corporation Ltd said, "We are extremely happy to announce that we have received the formal approval from the NHB to commence our lending operations. Our stated objective is to touch upon the lives of Indian families by fulfilling their long cherished dream of owning their own home. We are starting the lending operations with Rs.100 crs of capital and plan to reach as many families by extended hassle free small loans to them. At Aspire, our belief is that we should enhance the housing stock and hence the entire capital will be utilized for retail residential lending operations. To begin with, all our loans will only be for construction / purchase of property." Mr. Sachidanand further added that AHFCL will leverage the strength of its promoters Motilal Oswal Group and strive to be a unique proposition in the Indian mortgage industry driven by strong business values.
Speaking on the occasion, Mr.Motilal Oswal, Chairman & Managing Director, Motilal Oswal Financial Services Ltd. said, "We wish to make Aspire Home Finance a significant player in Indian home finance Industry and ensure better customer experience in under penetrated geographies. AHFCL will also leverage our strong distribution network to reach out to its customers".
About Aspire Home Finance Corporation Ltd (AHFCL)
Aspire Home Finance Corporation Ltd (AHFCL) is a professionally managed company with a unique combination of financially sound and technically experienced promoters who are well known in their domain for professional ethics and strong execution capabilities. AHFCL is managed by a professional promoter - Mr. Anil Sachidanand; who is a veteran of over 25 years in the Home Finance business in India. Anil Sachidanand (MD & CEO) and a team of experienced Home Finance professionals will be responsible for execution of day to day operations of the company, guided by an experienced Board of Directors from the fields of Banking and Finance. The stated mission of AHFCL is to provide housing finance to affordable housing segment across India on equitable terms by targeting to enhance housing stock amongst lower and middle income Indian families.
About Motilal Oswal Securities Limited
Motilal Oswal Securities Ltd. is a part of Motilal Oswal Financial Services Ltd. (MOFSL). MOFSL (NSE: MOTILALOFS, BSE: 532892, BLOOMBERG: MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 1,546 business locations spread across 519 cities and the online channel to over 792,858 registered customers. MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions. MOFSL has been ranked by various polls such as the Best Local Brokerage 2005, Most Independent Research - Local Brokerage 2006 and Best Overall Country Research - Local Brokerage 2007 in Asia Money Brokerage Polls for India. MOSL won 4 awards in the ET-Now Starmine Analyst Awards 2010-11, placing it amongst the Top-3 award winning brokers, was ranked No. 2 by AsiaMoney Brokers Poll 2010 in the Best Local Brokerage Category and won the 'Best Market Analyst' Award for 2 sectors at the India's Best Market Analyst Awards 2011. MOFSL won the 'Best Capital Markets and Related NBFC' award at the CNBC TV18 Best Banks and Financial Institutions Awards 2011. MOSL also won the 'Best Equity Broking House' award for FY11 at the Dun & Bradstreet Equity Broking Awards 2011. MOSL won the 'Best Performing National Financial Advisor Equity Broker' award at the CNBC TV18 Financial Advisor Awards 2013, for the 3rd year in a row. MOSL won 'Best Equity Broker' award at Bloomberg UTV Financial Leadership Awards 2012, 'Retailer of the Year (Banking & Financial Services) award at Retail Excellence Awards 2012, and was ranked 2nd in the "Best Overall Brokerage" category by Asia Money in 2011. Motilal Oswal Private Equity won 'Best Growth Capital Investor-2012' award at the Awards for Private Equity Excellence 2013. MOSL was adjudged amongst the Top 20 innovators in BFSI for 'Leveraging on technology in enhancing customer experience' at the Banking Frontiers Finnoviti Awards 2012, and won the 'Quality Excellence for Best Customer Service Result' award at National Quality Excellence Awards 2013.
For further details contact:
Mr. Hari Krishnan
Motilal Oswal Financial Services
Ph - +91-22-39825500
Mr. Anirudh Rajan / Alpesh Nakrani
Paradigm Shift Public Relations
Mob- +91-9892343828/ +91-9869121167
Tel- +91-22 22813797 / 98