Edelweiss Housing Finance Limited (EHFL), the wholly-owned housing finance subsidiary of Edelweiss Capital, is targeting a loan book of Rs 300 crore from Hyderabad by 2015.
Launching its operations here on Tuesday, Anil Kothuri, head (retail finance), Edelweiss Capital, and chief executive of Edelweiss Housing Finance, said, “Hyderabad is one of the fastest-growing metros in India. Over the years, the city has seen rapid growth, backed by good infrastructure and growing middle class.”
Edelweiss Housing is present in seven cities – Mumbai, Delhi, Pune, Ahmedabad, Chennai, Bangalore and Hyderabad. It is looking at expanding its presence to 19 cities in the next two years with a disbursement volume of Rs 3,000 crore by 2015.
As per a recent survey, the size of the housing finance market, which emerged in India during 1970s, was pegged at Rs 150,000 crore in 2010. The market is expected to almost double by 2015.
And, the top 19 cities in India contribute around 90 per cent to the mortgage market in the country, and will continue to dominate the market for the next 10 years, he said, adding that the company wanted to capture two per cent of the market over the next five years.
Edelweiss Housing is also looking at a balance sheet of Rs 750 crore by the end March 2012, and is looking at having a Rs 500-crore loan portfolio under its SME division (started last year) by the next financial year, he said.
