Reliance Home Finance (RHFL) has appointed Ravindra Sudhalkar the chief executive officer of the company.
"The board of directors of Reliance Home Finance (RHFL), a 100 per cent subsidiary of Reliance Capital, has announced appointment of Ravindra Sudhalkar as the CEO of the company," RHFL said in a statement.
RHFL deals in home loans, lending against property, construction finance and affordable housing loans.
The asset under management (AUM) was of the order of Rs 8,259 crore (USD 1.2 billion) as of June 30, 2016.
The company is readying an aggressive growth plan to be among the top five housing finance companies by 2020.
"Focus on housing finance forms an important part of Reliance Capital's growth strategy and we will continue to aggressively expand this portfolio under the leadership of Sudhalkar," said Sam Ghosh, ED and Group CEO, Reliance Capital.
Sudhalkar, 48, has joined RHFL from Kotak Mahindra Bank and prior to that, he worked with various companies, including ICICI Bank.
"India's mortgage penetration is very low, placing RHFL in a unique position to aggressively expand its business in a short span of time," said Sudhalkar.
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