Edelweiss Housing Finance Ltd (EHFL) is planning to take its loan book to Rs 1000 crore in this fiscal.
EHFL happens to be the housing finance wing of Edelweiss Group.
The company currently has presence in Mumbai, Delhi and Bangalore. It aims to spread out to Chennai, Hyderabad, Ahmedabad, Baroda and Surat by the end of March 2012. It plans to open 19 branches in these cities.
"Our goal is to achieve a target of Rs 1,000 crore from Pune market by the end of March 2012. Over the last few years, the city has emerged as a new destination for IT and BPO related industries. This has opened up avenues for a lot of real estate development in the city. EHFL's approach to the housing finance business will be based on offering differentiated products and a superior internet-based sales and fulfillment process for applicants," said said Anil Kothuri, Head-Retail Finance, Edelweiss Group.
Kothuri said that the company has lent out loans worth Rs 240 crores in the past 11 months time.
"EHFL offers home loans repayable over 25 years. This could give the borrower a larger loan amount or a smaller monthly installment," he added.
"The current housing finance market size is about Rs 1.5 trillion and we expect it to double by the end of 2015. We expect to capture about 2 per cent of the market over the next 5 years." he said.