Home First Finance to open 20-25 branches a year

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Home First Finance Company aims to open around 20-25 branches a year, said MD and CEO Manoj Viswanathan in an interview with CNBC-TV18.

The company has 321 touchpoints currently and it aims to take it up to 400 in the times to come, he added.

This affordable housing financier reported a 31% increase in net profit over last year at ₹84 crore for January-March period.

He believes the demand on the ground has been fairly strong. “Post-COVID we saw a surge in interest in the construction of houses, purchase of houses.”

For April-March 2024-25, Viswanathan expects loan growth of more than 30%.

Also Read | Home First Finance rises 4% on insurance regulator’s composite license approval

After general elections 2024, he also expects some schemes to boost affordable housing. “That is likely to give further thrust to the momentum, which is there in the industry already,” he said.

The average ticket size is at ₹12-13 lakh, he said.

He expects the cost-to-income ratio to be around 33-35%. In the fourth quarter, the cost-to-income ratio was around 34%.

The current market capitalisation of the company is ₹7,748 crore.

For more, watch the accompanying video

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow