Can Fin Homes Ltd is a finance company associated with housing finance. It caters to the builders, promoters, and individuals in need of financing their Housing in India. It provides both individuals and builders with various types of loans like affordable housing loans, non-housing loans, composite loans, and top-up loans. It gives these loans related to renting of properties, children's education, mortgage, commercial properties, site, and pensioners besides providing cumulative and fixed deposit services.
It provides services all across the nation and operates with a network of 40 main branches. It is one of the giant companies operating in the housing finance segment in the country. As of March 31st, 2019, it is known to have14 satellite offices, 154 branches apart from 21 loan centres in the country. The company Can Fin Homes Limited is a Bangalore based company in India, and it was incorporated back in the year 1987.
In the year 1993, a new branch was inaugurated in Lucknow, UP by the company. A new scheme was then incorporated by the company, named In-principle Sanction. New branches of the company were also introduced in Patna, Ahmedabad, Cochin, and Chandigarh in the year 1997. Two years later in 1999, the company introduced a scheme where the deposits would double in 65 months, and this was called Abhivridhi Deposit Scheme. National Housing Bank recognized Can Fin Homes Ltd as a participant concerning the issue of mobilizing resources via Mortgage-Backed Securities.
In 2003, Can Fin Homes Limited inaugurate a loan fair in Kerala by the name of Can Fin Home Loan Fair. The following year in 2004, the company introduced a new product for their current customers by the name of Personal Loan Scheme. In 2005, a new branch was set up at Hyderabad. During 2008-2009, 5% shares of the company amounting to 1, 023, 772 in numbers were acquired by Canara Bank via the secondary market.
From 2009 through 10, Canara Bank, which was the sponsor bank of the company went on to acquire another 1.95% of the shares of the company which then finally brought up the entire shareholding of Canara Bank in Can Fin Homes Ltd to 42.332% by the end of the year. From 2013 through 2014, the company expanded and opened up a total of 14 new branches across the country. This totalled the number of branches to 83, which were previously only 69. 10 of these branches were opened up in the South of India while 4 in several other parts of the countries comprising of some of the major cities in the country. During the financial year of 2014-2015, the company went on to add 24 new branches to its already existing branches in multiple states, finally tallying the total number up to 107.
The company further went on to expand with new branches during the financial year of 2015-2016 which summed up the total number of branches to a 110. Apart from this, during the same period, the company went on to open 20 new satellite offices which increased the number of satellite offices from 10 to 30. By the financial year-end of March 31st 2016, the total number of branches and/or satellite office summed up to 130.
By the financial year-end of the 2016-2017 session, the company, Can Fin Homes Ltd comprised of 170 outlets which were running a network across 19 states. Pairing up with the Government for its Housing for all initiative, the company opened up Affordable Housing Loan centres. Following the RBI instructions Canara Bank handed over its 13.45% to a GIC Singapore affiliated company name M/s Calladium Investments Private Ltd, and it was left with 30.57% holdings by the financial year-end of 2016-2017. Can Fin Homes Ltd has a five-star rating from NHB and is one of the top four housing finance companies chosen by NHB.
How Can Fin Homes Ltd is categorised under Finance Sector and Housing industry:
The finance sector is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
Can Fin Homes Ltd comes under Finance - Housing, Speciality Finance Industry. Speciality finance is nothing but the financing activity that's taking place outside the regular banking system. Typically, specialty finance firms are non-bank lenders that offer loans to consumers and small to midsize companies that cannot otherwise acquire financing. Specifically, consumer speciality finance includes auto finance, housing loans, collection, alternative financial services, credit card, and mortgage companies. DHFL falls under the sub-industry of Mortgage Finance.
Can Fin Homes Ltd Competitors and Sector Peers:
Aavas Financiers Ltd, AUHOUF
Akme Star Housing Finance Ltd, AKMSTA
Coral India Finance and Housing Ltd, CORIND
Dewan Housing Finance Ltd, DHFL
GIC Housing Finance Ltd, GICHOU
Hindustan Housing Company Ltd, HINHOU
Housing and Urban Development Corporation Ltd, HOUUR
Housing Development Finance Corporation Ltd, HOUSDE
Ind Bank Housing Ltd, INDBAN
India Home Loan Ltd, MANOHO
Indiabulls Housing Finance Ltd, INDIHO
International Housing Finance Corporation Ltd, INTERH
LIC Housing Finance Ltd, LICHOU
Manraj Housing Finance Ltd, MANRHO
Mehta Housing Finance Ltd, MEHHOU
PNB Housing Finance Ltd, PNBHOU
Reliance Home Finance Ltd, RELHOF
Repco Home Finance Ltd, REPHOM
Sahara Housingfina Corporation Ltd, SAHHOU
SRG Housing Finance Ltd, SRGHOU
Vax Housing Finance Corporation Ltd, VAXHOU