By Accommodation Times Bureau
ART Affordable Housing Finance (I) Limited (AAHF) on Thursday announced that it has crossed INR 100 Crore affordable home loan disbursal in the month of March 2018 and joining the league of Housing Finance Companies that disburse an amount of hundred crores in loans in a month.
In March 2017 ART Affordable Housing Finance disbursed INR 16 Crore with approximate 200 disbursals while in March 2018 it disbursed over INR 105 Crore with over 800 disbursals. In percentage growth term it is staggering 556% growth over March 2017 in value while the units quadrupled that is a growth of 300%.
Arvind Hali, MD and CEO at ART Affordable Housing Finance said, “Bulk of the disbursements have happened in the low-income housing segment and small self-employed customer profiles by leveraging technology and innovative credit methodology to meet the customers’ requirements quickly and in a hassle-free manner.”
ART Affordable Housing Finance has a current loan book size of more than Rs. 450 Crore and an equity base of Rs. 375 Crore. The first leg of business involved customer acquisition that crossed 700 logins a month within 6 months of implementation of new age technology of documentation & processes digitization. The other leg of INR 100 Crore disbursals a month has been achieved in March 2018.
The Company provides long-term housing loans to customers belonging to the Economically Weaker Sections (EWS), Low Income Group (LIG) and Middle Income Groups (MIG) in peripherals of urban India and semi-urban India.