Tag Archives: housing

Indiabulls Housing Finance’s true test begins

Gagan Banga, Indiabulls Housing Finance’s (IBHF) managing director, is not disappointed after the Reserve Bank of India (RBI) rejected its proposed merger with Lakshmi Vilas Bank (LVB). “Frankly, this is a relief,” Banga tells Forbes India. “After months, I sat down with my team for three-and-a-half hours and discussed business strategy and disbursal targets. We are firmly back on the growth ... Read More »

Weekly Tactical Pick | LIC Housing Finance

This week’s tactical pick is LIC Housing Finance (current market price: Rs 412). With loan portfolio of around Rs 1,98,000 crore, LIC Housing Finance (LICHF), the second-largest housing finance company (HFC),  is one of the very few housing NBFCs that have managed to keep its head above water in the aftermath of the liquidity crisis that engulfed non-banks, especially HFCs, since September ... Read More »

Share market update: Nifty Financial Services index up; Indiabulls Housing Finance rises 3%

NEW DELHI: The Nifty Financial Services index was up with its components trading higher in Monday’s afternoon session. The Nifty Financial Services index was trading 1.62 per cent up at 12,275.90 around 11:56 am. Shares of Mahindra & Mahindra Financial Services (up 5.05 per cent) , Indiabulls Housing Finance (up 3.61 per cent) , Edelweiss Financial ServicesNSE 6.25 % (up 3.56 per ... Read More »

After IL&FS Episode, Govt Fears Default from NBFCs, Housing Finance Firms: Report

Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, MoneyControl said on Friday. The DEA, in a letter to the Ministry of Corporate Affairs, described the financial situation as “still fragile” when discussing the financial stability ... Read More »

Piramal Housing Finance to raise Rs 400 cr via Commercial Paper

Ajay Piramal, chairman, Piramal Enterprises Piramal Housing Finance, which began operations last month, will lift its first market borrowings through Rs 400-crore commercial paper, a short-term money market instrument.   Rating agency ICRA has assigned ‘A1+’ rating to the housing finance company’s commercial paper.   ICRA said the company enjoys operational synergies with its parent Piramal Finance Ltd, thanks to PFL’s experience in real estate lending and the large ... Read More »

New housing finance firms eye affordable housing space

Lodha Ventures, Centrum Housing Finance, JM Financial and Piramal Finance have either started giving out home loans this year or are awaiting licences to begin operations. Photo: Mint Bengaluru: New entrants in the mortgage lending space are focusing on providing small home loans to customers in cities and small towns, aided by government schemes and initiatives to promote affordable housing. New ... Read More »