Mahindra Rural Housing Finance

In a Q&A, Arvind Subramanian says his firm hopes to achieve Rs 2,500 crore residential sales a year and industrial leasing of Rs 500 crore by 2025

With a freeze on disbursements, its advances were almost flat at Rs 7,783.8 crore at end of June 2020 as against Rs 7,870.1 crore in March 2020

IFC, a member of the World Bank Group, has announced investment of Rs 1.6 billion ($25 million) in Mahindra Rural Housing Finance Ltd. (MRHFL), which focuses on finance companies, focused on rural housing. The proceeds will be used to give loans to low-income borrowers in villages.MRHFL has 85 percent of its portfolio in the rural areas with an average loan size of only $1,200, and demonstrates its ability to serve economically weak segments in a commercially sustainable way. Its customers include farmers, micro-entrepreneurs, and salaried workers in the unorganized sector, who often do not have documentary evidence of income and lack a proven credit history.Bridging the housing gap in India is a strategic priority for IFC and aligned with the World Bank Group's twin goals of eliminating extreme poverty and increasing shared prosperity, said IFC. In recent times, IFC has made nearly $2 billion available, including mobilisation, for purchase and construction of affordable homes. ...

HFC's scale of operations, although small, has been improving over the past few years

The company provides home loans primarily in rural areas