MUMBAI, July 11, 2019 /PRNewswire/ -- Crisil - India's first and a reputed global rating agency assigned Micro Housing Finance Corporation Limited (MHFC) a rating of CRISIL A+; outlook stable. The rating is the reflection of profitable but differentiated growth shown by the company with a unique technology driven, branchless business model, robust financial prudence and good governance practices. In October 2018, Ms. Ananya Birla acquired a 100% stake of MHFC with a vision to serve the financially excluded segment.
Since its inception in 2010, MHFC has served over 20,000 customers in the Economic Weaker (EWS) and Low income group (LIG). In line with the Prime Minister's Housing for all by 2022, MHFC relentlessly serves the financially excluded segment which finds difficult to obtain home finance through mainstream banks. With a loan ticket size of an average INR 4 to 5 lakhs, MHFC has a GLP of close to INR 600 crs. The company plans to continue the objective of providing secured loans to the informal segment for home purchase and home construction - with business plans to achieve a GLP of INR 3000 crs by FY22.
About Micro Housing Finance Corporation (MHFC)
MHFC is a housing finance company headquartered in Mumbai, India, focused on serving lower income groups in urban areas, specifically those in the informal sector. MHFC, through this initiative, seeks to efficiently and sustainably enable access to housing finance services to the underserved and unserved segments of the urban population.
For more information on MHFC, please visit http://www.mhfcindia.com.
Manager - Corporate Communications
Svatantra Microfin Pvt. Ltd.
SOURCE Micro Housing Finance Corporation Limited (MHFC)