One of India's leading Financial services provider the Edelweiss Group is on an expansion drive. Its housing finance subsidiary, the Edelweiss Housing Finance aims to open offices in another 10 cities in the next two years.
Edelweiss Housing Finance already has branches in 9 cities including Delhi, Mumbai, Chennai, Bangalore, Ahmedabad, Pune, Baroda Surat and Hyderabad.
Mr. Anil Kothuri, its Chief Executive Officer , said that by the end of March 2014, the company would have increased its presence to 19 cities.
The expansion plan of the company comes due to its successful performance for the last two years.
EHFL started its operations in September 2010 and since then till the end of March 2012 its loan book recorded Rs. 780 crores worth of business. Adding that, as the home loan business is booming Mr Kothuri said that Edelweiss is going to take advantage of the boom and that it now aims to notch up business to Rs. 6000 crores by the end of FY 2014-15.
Apart from expansion, EHFL is also aiming towards diversification of its sources of funds by approaching different banks and mutual funds. Lately, EHFL has started giving loans to SMEs(Small and Medium Enterprises) as there are good opportunities in this segment.