The non-banking financial company (NBFC) said the capital will help Muthoot Homefin scale its assets under management more than fourfold over the next five years and strengthen its presence in affordable housing, particularly in tier-II and tier-III markets.
“The strongest housing growth will come from India’s tier II and III cities, and this infusion equips us to deepen our presence in these markets while staying true to our mission of enabling dignified homeownership for first-time home buyers and self-employed customers,” Managing Director George Alexander Muthoot said.
Muthoot Homefin’s disbursements have grown nearly six times in the last two years, while its assets under management doubled to ₹3,096 crore. The new funds will also be used to expand its lending portfolio, digital infrastructure and workforce, the company said.
“After the Covid-19 pandemic we have been strengthening systems and sharpening execution. This investment is not just about growth, but about enabling the dream of homeownership for aspiring Indian families,” said Alok Aggarwal, CEO of Muthoot Homefin.
(Edited by : Ajay Vaishnav)