Home First grows with AUM of Rs 50 billion
Home First has established a reasonable franchise in the affordable housing segment while continuing to expand its reach and establish its footprint with assets under management (AUM) of Rs 49.9 billion in 3QFY22.
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Hyderabad Home First has established a reasonable franchise in the affordable housing segment while continuing to expand its reach and establish its footprint with assets under management (AUM) of Rs 49.9 billion in 3QFY22.
The company's assets under management (AUM) grew 3.7 times over FY18-3QFY22, supported by regular capital infusions, the ability to leverage, and the government's impetus on affordable housing.
The company has mobilised funds from 16 financiers, including banks (59.9 per cent of total borrowings at 3QFY22), and a large non-banking finance company (2.9 per cent), and it also has refinance lines (30 per cent) from the National Housing Bank ('IND AAA'/Stable).
It has an operating track record of over 11 years and a considerable presence in the states of Gujarat, Maharashtra and Tamil Nadu; the states jointly accounted for 65.7 per cent of the assets under management (AUM) in 3QFY22 (FY21:69 per cent; FY20: 71 per cent; FY19: 78 per cent).
