 "Affordable housing: IIFL aims to double home loan book to Rs 280 bn by 2020")
A subsidiary of India Infoline Finance Limited, IIFL Home Loans has a loan book of Rs 120 billion currently.
"We are targeting urban middle and lower income population which has a monthly income of Rs 25,000-40,000. The reason for this is that the largest segment of the population falls in this bracket with increased disposable income in hand and rising aspirations to buy their dream home," said Monu Ratra, ED & CEO, India Infoline Housing Finance Limited (IIFL Home Loans).
With a focus on affordable housing segment, the company said it is leveraging technology to tap the escalating demand emerging from the low and middle-income group in the country.
It has more than 50,000 home loan customers currently and is looking at increasing its customer base to more than 0.2 million by 2020.
Ratra said the company is focusing on customers who look for home loans below Rs 2 million as there is a sizeable segment in India with this demand.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%