JM Financial Home Loans launches its branch in Erode, Tamil Nadu, takes the nationwide network to 75 branches
MUMBAI, India, Oct. 10, 2022 /PRNewswire/ -- JM Financial Home Loans Limited (JM Financial Home Loans / the Company) announced the launch of a new branch in Erode in Tamil Nadu. The launch of the Erode branch marks the milestone of opening 75 branches in India for JMFHLL. Since it commenced operations in 2017, JM Financial Home Loans has been expanding its network at a steady pace, offering its diverse home loan products to the eligible home loan seekers across regions.
The branch inauguration is in line with the Company's continued focus on deeper penetration in the affordable housing segment. JM Financial Home Loans will now offer its bouquet of products including home loans, loan against property, home construction, home improvement and home extension loans and will work towards meeting housing finance requirements of the home buyers in Erode and the adjoining areas.
JM Financial Home Loans operates out of 75 branches in 7 states across western and southern India, which helps building very granular affordable housing finance portfolio. It has plans to further extend its footprint across India.
The Company presently has an Asset under Management (AuM) of ~ Rs.1350 crores (as on 31st August, 2022) and a customer base of ~ 8,500 having an average ticket size of Rs. 15 lacs. The Company is expecting a steady and robust growth in its loan book banking on its transparent, quick home loan disbursement process, hassle-free, easy documentation and top-class customer service.
Speaking on the announcement Mr. Manish Sheth, MD and CEO, JM Financial Home Loans said, "We are delighted to inaugurate our 75th branch in Erode. In the post pandemic phase, the country is witnessing unprecedented growth in demand for affordable housing. With our easy and convenient home loan offerings, we'll help the home buyers in turning their dreams into reality.
Affordable housing is an under-penetrated and under-served market in India to a large extent. Having invested heavily in our people, processes and technology, we have set the stage to expand rapidly and position ourselves as one of the fastest growing and profitable company in the affordable housing finance space. November this year, marks the completion of five years' journey of JM Financial Home Loans and the milestone is a testimony of our continued efforts to make housing finance accessible to all."
About JM Financial Home Loans Limited
JM Financial Home Loans Limited, a subsidiary of JM Financial Products Limited, represents the group's foray into the housing finance business. JM Financial Home Loans Limited primarily focuses on affordable housing segment, catering to low and mid income customer segments in tier 1 and tier 2 towns. We endeavour to cater to those home buyers who are under-served by the formal banking channels. The Company leverages on JM Financial brand and uses superior technological capabilities to provide a diverse range of highly customised products and services to home buyers.
For more information, visit https://jmfinancialproducts.com/Home/HomeLoans
About JM Financial
JM Financial is an integrated and diversified financial services group. The Group's primary businesses include (i) Investment Bank (IB) shall cater to Institutional, Corporate, Government and Ultra High Networth clients and includes investment banking, institutional equities and research, private equity funds, fixed income, syndication and finance; (ii) Mortgage Lending includes both wholesale mortgage lending and retail mortgage lending (Affordable Home Loans and Secured MSME); (iii) Alternative and Distressed Credit includes the asset reconstruction business and alternative credit funds; and (iv) Asset management, Wealth management and Securities business (Platform AWS) shall provide an integrated investment platform to individual clients and includes wealth management business, broking, PMS and mutual fund business.
As of June 30, 2022, the consolidated loan book stood at ~Rs. 126.1 BN, distressed credit business AUM at ~Rs. 114.1 BN, wealth management AUM at ~Rs. 833.4 BN, mutual fund AUM at ~Rs. 30.6 BN.
The Group is headquartered in Mumbai and has a presence across 659 locations spread across 191 cities in India. The equity shares of JM Financial Limited are listed in India on the BSE Limited and National Stock Exchange of India Limited
For more information, log on to www.jmfl.com
Photo: https://mma.prnewswire.com/media/1917090/JM_Financial_75th_branch.jpg
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