Indiabulls Housing Finance Ltd:
Indiabulls Housing Finance Limited (IBHFL), along with its subsidiaries, is functioning as a housing finance company, throughout India, as well as internationally. The company is providing home loans, based on the mortgage process, to the people who earn, either salaried or self-employed; loans against property to the individuals, entrepreneurs and proprietorships; financing for residential construction are provided to the real estate developers. The company is providing loans for the NRI’s, for their housing purposes. Along with that, rural loans and several insurance products are also being offered by the company.
Indiabulls Housing Finance Limited is currently possessing around 220 branches in 110 towns and cities across India, with international intervention, having branches in Dubai and London.Indiabulls Housing Finance Limited was incorporated in the year of 2000 and is headquartered in Gurgaon, India. The company operates is business operations as a subsidiary of Indiabulls Financial Services Ltd.
About Company Information:
In December of 2005, the company had been registered and allowed to carry its business, as a Housing Finance Institution, although did not have the permission to accept public deposits from the National Housing Bank. In the FY 2013-14, NAREDCO recognized and awarded the company as the ‘Fastest Growing Housing Finance Company’.
A 40 per cent stake in the UK-based Oak North Bank had been achieved by the company in 2015, against a cost of US$ 100 million (about Rs.660 crores). The company had been awarded as the ‘Best Housing Finance Company’ and ‘Best Affordable Housing Finance Company of the Year’ by Realty Plus and ASSOCHAM respectively in 2015. Indiabulls Customer Connect was introduced by the company in the same year, to address the queries from the customers.
In April 2016, an agreement took place between the company and HDFC Life, as a result of a tie that was based on the commitment of Indiabulls to distribute HDFC life’s retail life, health and pension products. It is to be noted that it was just an addition to the already existing agreement between these companies of distributing Credit Protect Plus, related to covering repayment of loans if a customer dies.
Three months later, on July 2016, the company brought a notice publicly that the subordinated debt rating of the company had been upgraded to AAA by a credit rating agency, namely CARE. The company again had stated, notifying that it had experienced a raise of Rs.1330 crores by unrated rupee-denominated Masala bonds with a tenor of 3 years and 1 month, having a coupon of 8.57%, on September 2016.
At the same month, the company declared that its public issue of NCDs had been pre-closed by the company, on the second day since its opening. Having a base issue of Rs.3500 crores and bids on BSE and NSE, surpassing more than Rs.7200 crores, the issue was subscribed over two times.On January 2017, the company declared a reduction in the rate of interest for home loans, which manifested as 8.65% and 8.7% for women applicants and others respectively. Again a reduction in the interest rate for the home loans was announced for the existing housing loan customers by 15 basis points in the same month.
In February 2017, the company got the recognition among the Nifty 50 index, as announced by the India Index Services & Products Ltd, a company engaged in managing Nifty 50 index and other NSE indices. The interest rate on the housing loans had been reduced by 15 basis points to 8.35%, as announced by Indiabulls Housing Finance Limited, in May 2017. A month later, the company publicly notified its achievement of being recognized as a AAA firm, as ICRA, a credit rating agency upgraded company’s long-term rating from previously achieved grade of AA+. GIC, the investment arm of Government of Singapore bought one-third of IBHFL’s stake in OakNorth Bank, against the capital of Rs.770 crores, on November 2017.
A month later, Social Affordable Housing Bond, for the first time in India, worth Rs.100 crores had been issued by Indiabulls Housing Finance Limited. Nation’s 5th largest private bank ‘Yes Bank’ had the sole credit behind this milestone-touching achievement.
How IBULHSGFIN 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.
Indiabulls Housing Finance Ltd comes under the Finance Sector - 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.
IBULHSGFIN’s Competitors and Sector Peers:
Aavas Financiers Ltd, AUHOUF
Akme Star Housing Finance Ltd, AKMSTA
Can Fin Homes Ltd. CANFIN
Coral India Finance and Housing Ltd, CORIND
Dewan Housing Finance Corporations Ltd DHFL
GIC Housing Finance Ltd, GICHOU
Hindustan Housing Company Ltd, HINHOU
Housing Development Finance Corporation Ltd - HDFC
Housing and Urban Development Corporation Ltd, HOUUR
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