Indiabulls Housing Finance
File:Indiabulls Housing Finance logo.svg | |
Company type | Public |
---|---|
BSE: 535789 NSE: IBULHSGFIN Nifty 50 Constituent | |
Industry | Financial Services |
Founded | 2005[1] |
Headquarters | , India |
Area served | India, United Kingdom, United Arab Emirates |
Key people | Sameer Gehlaut (Chairman) |
Products | Home Loans |
Revenue | ₹170.27 billion (US$2.0 billion) (2019)[2] |
₹76.18 billion (US$910 million) (2016) | |
Total assets | ₹751 billion (US$9.0 billion) (2016)[3] |
Website | www |
Indiabulls Housing Finance Limited is a mortgage lender which is headquartered in New Delhi, India.[4] It is India's second largest housing finance company and is regulated by the National Housing Bank.[5] It is part of Sameer Gehlaut's Indiabulls group and contributes approximately 80% of the groups turnover.[6]
On 5 April 2019, the board of Indiabulls Housing Finance approved a merger with the private sector bank Lakshmi Vilas Bank. Indiabulls shareholders will receive a 90.5% stake in the consolidated entity, to be called Indiabulls Lakshmi Vilas Bank, and LVB will receive the remaining 9.5%.[7] The merged entity will create a net worth of ₹19,472 crore and a loan book ₹1,23,393 crore for the nine months of FY2019.[8], [9]
Technology and Digitisation
In 2016, Indiabulls Housing Finance announced that it would invest ₹1 billion (US$12 million) in innovative technology platforms.[10] The same year it became the first mortgage company to complete an end-to-end digitisation of loan sanctions in India.[11] The company tied up with the Centre for Development of Advanced Computing and the Unique Identification Authority of India to offer e-signing using PAN and Aadhar numbers.[12] The mortgage agreements signed through this route as stored digitally in NSDL depository participant accounts.[10] It also has an application on Facebook, IB Easy which facilitates loan applications through social media.[13]
International Presence
Indiabulls Housing Finance bought a 40% stake in London, United Kingdom based OakNorth Bank for £66 million in 2015, making it the largest shareholder in the bank which was founded by serial entrepreneur Rishi Khosla and specialises in lending to small businesses.[14] The company also has a branch office in Dubai, United Arab Emirates.[15] It provides loans to Non Resident Indians based in UAE to buy properties in India.[16]
Awards
Indiabulls Housing Finance was recognized as the Fastest Growing Housing Finance Company of the Year 2013-14 by NAREDCO. In 2015, the company was awarded Best Housing Finance Company by Realty Plus as well as Best Affordable Housing Finance Company of the Year by ASSOCHAM.[15]
References
- ^ "Indiabulls Housing Finance Company Background :- Finance - Housing, Company Background of Indiabulls Housing Finance - BSE: 535789, NSE: IBULHSGFIN". www.moneycontrol.com. Retrieved 30 April 2017.
- ^ "Indiabulls Housing Finance Profit & Loss account, Indiabulls Housing Finance Financial Statement & Accounts". www.moneycontrol.com. Retrieved 30 April 2017.
- ^ "Indiabulls Housing Finance Balance Sheet, Indiabulls Housing Finance Financial Statement & Accounts". www.moneycontrol.com. Retrieved 30 April 2017.
- ^ Sinha, Shilpy (24 April 2017). "Indiabulls Housing Finance Q4 net up 24% - The Economic Times". The Economic Times. Retrieved 30 April 2017.
- ^ "Indiabulls Housing Finance trims interest rates for existing borrowers by 15 bps - Mint Market Info". Livemint. 23 January 2017. Retrieved 30 April 2017.
- ^ Kamath, Raghavendra (10 July 2014). "Indiabulls promoters split empire". Business Standard India. Retrieved 30 April 2017.
- ^ Saha, Manojit (5 April 2019). "Lakshmi Vilas finds a new home in Indiabulls". The Hindu. Retrieved 6 April 2019.
- ^ "Lakshmi Vilas Bank to merge with Indiabulls Housing Finance". thehindubusinessline. Retrieved 6 April 2019.
- ^ "Indiabulls Housing Finance raises Rs 200 crore from 2 public lenders". The Economic Times. 12 June 2020.
- ^ a b Bhakta, Pratik (30 June 2016). "Indiabulls Housing Finance to invest over Rs 100 crore on technology". The Economic Times. Retrieved 30 April 2017.
- ^ Shetty, Mayur (26 July 2016). "Indiabulls Housing digitises home loans - Times of India". The Times of India. Retrieved 30 April 2017.
- ^ "Now, you can avail a home loan online!". Rediff. 5 August 2016. Retrieved 30 April 2017.
- ^ Sharma, Ashwini Kumar (5 April 2017). "Zeroing in on a home loan online". Livemint/. Retrieved 30 April 2017.
- ^ Babar, Kailash; Mehta, Sangita (12 November 2015). "Indiabulls Housing Finance buys 40 per cent in UK bank". The Economic Times. Retrieved 30 April 2017.
- ^ a b "Indiabulls Housing Finance Ltd". Business Standard India. Retrieved 30 April 2017.
- ^ Editor, Manoj Nair, Associate (25 February 2015). "Indiabulls marks out its turf in Dubai". GulfNews. Retrieved 30 April 2017.
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