 "The year was a mixed bag for the real estate industry as housing supply slowed down but record investments came in. Industry experts believe that demand will stabilise as sales are likely to be lower compared to 2023.")
Altum Credo Home Finance, a Pune-based affordable housing finance company, has secured ₹170 crore in equity funding from existing investor British International Investment (BII), the UK’s development finance institution and impact investor. The capital will enable Altum Credo to deepen penetration and expand operations across its current geographies in India.
Looking ahead, the investment will help expand credit access for low-income, largely women borrowers, enabling home construction and improvements in sanitation, electricity, safety, and household assets. It will also strengthen Altum Credo’s technology and IT infrastructure, enhancing efficiency, customer experience, and digital service delivery.
Company and investor statements
Vikrant Bhagwat, Managing Director and CEO of Altum Credo, said: “We greatly value the continued support and confidence shown by British International Investment through this fresh equity infusion. This investment further strengthens our balance sheet for a long-term sustainable impactful growth journey and our commitment to cater meaningfully to the large unmet demand for affordable housing finance in India.”
Shilpa Kumar, Managing Director and Head of India at BII, added: “We are continuing our investment with Altum as it aligns with BII’s commitment to inclusive growth by expanding access to affordable housing finance for communities across India. Through this partnership, Altum is enabling low-income households, especially women, to access safer, more secure homes and essential services. As part of our broader climate and impact strategy, we view housing as a critical enabler of resilience and long-term development.”
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Expanding reach in affordable housing
Altum Credo has served more than 15,000 customers across six states in southern and western India, with an assets under management (AUM) of over ₹1,000 crore. The company focuses on first-time, low-income homeowners who have traditionally remained underserved in accessing long-term housing credit.
Sector outlook
The affordable housing finance sector in India is poised for significant growth, projected to reach ₹67 trillion by FY30, according to an April EY report, New horizons for affordable housing in India. The study noted that the top 10 states, including Uttar Pradesh, Maharashtra, and Tamil Nadu, account for over 75 per cent of this demand, representing a financing potential of ₹7.7 trillion nationwide.
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