Dewan Housing Finance Corporation’s (DHFL) arm Aadhar Housing Finance has inaugurated its first branch at Howrah in West Bengal. Aadhar Housing Finance is also eyeing to break even by end of 2013-14 fiscal.
Targeting solely on low income group segment with small-ticket loan up to Rs 12 lakh Aadhar Housing currently has no plan to acquire the small loans of DHFL. It is targeting a growth in lending by 20-25%. The company expects that by expanding its reach in southern region the growth rate will be much higher.
Aadhar currently has presence in seven states with 17 branches. The company will increase number of branches to 22 shortly. The total disbursal in the 18 months of operation of the company is Rs 220 crore.
