Home First Finance
Home extension and renovation loan | |
Revenue | ₹796 crore (FY 2022–23)[2] |
---|---|
₹316 crore (FY 2022–23)[2] | |
₹228 crore (FY 2022–23)[2] | |
AUM | ₹7,198 crore (FY 2022–23)[2] |
Number of employees | 993 (March 2023)[2] |
Rating | ICRA AA− (Stable)[3] |
Website | homefirstindia |
Home First Finance Company India Limited is an Indian
History
Home First Finance was founded in 2010 by former chairman and co-founder of Mphasis, Jerry Rao; former CEO and MD of Bank of Baroda, PS Jayakumar; and Manoj Viswanathan, who previously worked with Citigroup India.[7][8] It commenced operations in August 2010 after registering with the National Housing Bank, the regulatory and licensing body for housing finance companies in India.[9] In 2011, Bessemer Venture Partners bought a minority stake in the company for an undisclosed sum.[10]
In 2013, Tata Capital Growth Fund picked up a minority stake in the company.[11] Home First Finance turned profitable in 2014.[12]
In February 2017,
In October 2020, Warburg Pincus acquired a 25% stake in Home First Finance for ₹700 crore.[14] In January 2021, Warburg Pincus increased its stake to 30.62% ahead of Home First Finance's initial public offering.[15]
In January 2021, Home First Finance launched its initial public offering (IPO) of ₹1,154 crore;[16] the IPO was subscribed over 26 times. Equity shares of the company began trading on Bombay Stock Exchange and National Stock Exchange on 3 February 2021.[6]
In December 2021, Union Bank of India (UBI) and Home First Finance Company India Ltd (HomeFirst) entered into a strategic co-lending partnership.[17]
In December 2022, Home First Finance raised ₹280 crore from International Finance Corporation to provide financing for green affordable housing customers.[18]
Operations
Home First Finance primarily functions in the
During fiscal year 2022–23, the company crossed the milestone of 100,000 customers served till date.[21] About 70% of its customers are from the salaried class in both formal and informal sectors, while self-employed individuals make up the remainder 30% customer base.[2] The company's assets under management stood at ₹7,198 crore.[2]
Finances
Year[21] | Revenue (in ₹ crore) |
Net profit (in ₹ crore) |
AUM (in ₹ crore) |
---|---|---|---|
FY 2017–18 | 146 | 25 | 1,356 |
FY 2018–19 | 271 | 45 | 2,444 |
FY 2019–20 | 419 | 80 | 3,618 |
FY 2020–21 | 489 | 100 | 4,141 |
FY 2021–22 | 595 | 186 | 5,380 |
FY 2022–23 | 796 | 228 | 7,198 |
ESG
Home First Finance has been rated in the category of "low risk" by Morningstar's Sustainalytics with a score of 16.2.[23]
References
- ^ "Home First Finance: A CredITable trailblazer – the FIRST among equals" (PDF). Motilal Oswal. Retrieved 28 September 2022.
- ^ a b c d e f g h "Investor Presentation – Q4 FY23" (PDF). BSE. Retrieved 8 June 2023.
- ^ "Home First Finance Company India Limited". ICRA. Retrieved 8 June 2023.
- ^ a b "Home First Finance Company India Ltd" (PDF). Edelweiss Research. Retrieved 27 September 2022.
- ^ "Home First Finance" (PDF). ICICIdirect. Retrieved 27 September 2022.
- ^ a b "Home First Finance debuts at 19% premium over issue price". The Economic Times. Retrieved 27 September 2022.
- ^ Nandy, Madhurima (1 February 2013). "Jaithirth Rao | The late homebody". mint. Retrieved 27 September 2022.
- ^ "Warburg 'looking to exit' from Home First Finance". Business Line. The Hindu. Retrieved 28 September 2022.
- ^ "National Housing Bank - Annual Report 2010-2011" (PDF). nhb.org.in. Retrieved 27 September 2022.
- ^ Nandy, Madhurima; Unnikrishnan, Dinesh (9 June 2011). "US-based Bessemer buys stake in affordable housing finance start-up". mint. Retrieved 27 September 2022.
- ^ a b "True North to invest $100 mn in Home First Finance". VCCircle. Retrieved 27 September 2022.
- ^ Sinha, Shilpy. "Home First Finance Company is looking to sell 30% stake for Rs 250 crore to fund operations". The Economic Times. Retrieved 27 September 2022.
- ^ Kumar, Arun. "Private equity firm True North looks to buy major stake in Home First Finance Company for Rs 600 crore". The Economic Times. Retrieved 27 September 2022.
- ^ "Warburg Pincus invests Rs 700 cr to acquire stake in Home First Finance". Business Standard. 2 October 2020. Retrieved 27 September 2022.
- ^ "Warburg Pincus ups stake in Home First Finance ahead of Rs 1,000-cr IPO". Financial Express. Retrieved 27 September 2022.
- ^ "Home First Finance Company IPO subscribed 27 times, QIB portion booked 52 times on final day". Moneycontrol. Retrieved 27 September 2022.
- ^ "Union Bank partners with Home First Finance to offer home loans: Check benefits". 17 December 2021.
- ^ Anand, Saurav (24 December 2022). "Home First Finance raises ₹280 crore from IFC". mint. Retrieved 8 June 2023.
- ^ "Home First Finance Company India Ltd" (PDF). HDFC Securities. Retrieved 27 September 2022.
- ^ "Central Bank of India signs co-lending partnership with HFFC". Business Standard India. 7 September 2022. Retrieved 27 September 2022.
- ^ a b c "Integrated Annual Report 2022-23" (PDF). BSE. Retrieved 8 June 2023.
- ^ "Home First Finance Company" (PDF). Yes Securities. BloombergQuint. Retrieved 27 September 2022.
- ^ "HOMEFIRST - Home First Finance Co India Ltd Ordinary Shares Sustainability - XNSE". Morningstar, Inc. 6 June 2023. Retrieved 8 June 2023.