Aspire Home Finance Corporation Limited (AHFCL) is a professionally managed housing finance company with unique combination of financially sound and technically experienced promoters who are well known in their domain for professional ethics and strong execution capabilities.
EXPRESSION OF GLORY
AHFCL’s genesis lies in the addressing to the retail level financing conundrum in the affordable housing space thereby targeting lower and middle income (LMI) customers. These people aim to own an own home but cannot do so as long term housing finance is not available to most of them. This arises due to the difficulties faced by financial institutions in gauging the ability and willingness of such customers to repay. With shortage of close to 90 million housing units and more than 95% of this coming from need affordable housing, a bunch of seasoned housing finance professionals headed by Mr. Anil Sachidanand, decided to take on this anomaly head on which led to the foundation of AHFCL in October 2014.
RESOLUTE AND RESONANCE
Along with growth, the company has earned appreciation for its efficient business processes. More than 75% of the total collections (85% on an incremental basis) are through ACH / ECS / Direct Debit with an aim to increase this to more than 90%. The company’s technology platform enables to process the files in a speedy manner in an environment where sanction as well as disbursement decisions are centralized and maintain the TAT which is one of the best in the industry.
BRICKS AND CLICKS
AHFCL sped ahead as soon as business was initiated in May 2015 post getting CoR from NHB. Within first 10 days of business, more than 100 applications were received at AHFCL. Pace of setting up infrastructure was equally fast as AHFCL grew from just a head office in Mumbai to 14 branches in the states of Maharashtra, Gujarat, Madhya Pradesh and Telangana in just 10 months of business operations in FY’2014-15. The brisk pace continued in FY’2015-16 as well where the location count swelled to 51 branches.
AHFCL’s business processes are clearly set and further optimized from lead generation to post disbursement keeping target customer in mind. The processes are backed by a robust technology platform that enables end to end processing through core lending suite. AHFCL has also championed a unique initiative which remains close to the heart of the core team – launching an all women home loan division by the name MALA (Mahila Awaas Loan from Aspire) working on the principle of “For women – By Women”. MALA program provides housing finance assistance to working women – both salaried and selfemployed in low income segment.
AHFCL look forward to meaningfully contribute towards Government of India’s mission of “Housing for All” by 2022. The company intend to grow in size and stature by then but would not compromise on its business philosophy.