Indiabulls Housing Finance

Indiabulls Housing Finance Limited is a mortgage lender headquartered in Gurugram, Haryana, India. It is India's second largest housing finance company and is regulated by the National Housing Bank.[4] It is part of Sameer Gehlaut's Indiabulls group and contributes approximately 80% of the groups turnover.[5]

Indiabulls Housing Finance Limited
Public
Traded as
ISININE148I01020
IndustryFinancial Services
Founded2005 (2005)[1]
Headquarters
Gurugram
,
India
Area served
India, United Kingdom, United Arab Emirates
Key people
Sameer Gehlaut
(Chairman)
Services
Revenue₹170.27 billion (US$2.4 billion) [2] (2019)
₹76.18 billion (US$1.1 billion) (2016)
Total assets ₹751 billion (US$11 billion) [3] (2016)
Websitewww.indiabullshomeloans.com

On 5 April 2019, the board of Indiabulls Housing Finance approved a merger with the private sector bank Lakshmi Vilas Bank. Indiabulls shareholders will receive a 90.5% stake in the consolidated entity, to be called Indiabulls Lakshmi Vilas Bank, and LVB will receive the remaining 9.5%.[6] The merged entity will create a net worth of ₹19,472 crore and a loan book ₹1,23,393 crore for the nine months of FY2019.[7], [8]

Technology and Digitisation

In 2016, Indiabulls Housing Finance announced that it would invest ₹100 crore in innovative technology platforms.[9] The same year it became the first mortgage company to complete an end-to-end digitisation of loan sanctions in India.[10] The company tied up with the Centre for Development of Advanced Computing and the Unique Identification Authority of India to offer e-signing using PAN and Aadhar numbers.[11] The mortgage agreements signed through this route as stored digitally in NSDL depository participant accounts.[9] It also has an application on Facebook, IB Easy which facilitates loan applications through social media.[12]

International Presence

Indiabulls Housing Finance bought a 40% stake in London based OakNorth Bank for £66 million in 2015, making it the largest shareholder in the bank which was founded by serial entrepreneur Rishi Khosla and specialises in lending to small businesses.[13] The company also has a branch office in Dubai, United Arab Emirates.[14] It provides loans to Non Resident Indians based in UAE to buy properties in India.[15]

Awards

Indiabulls Housing Finance was recognized as the Fastest Growing Housing Finance Company of the Year 2013-14 by NAREDCO. In 2015, the company was awarded Best Housing Finance Company by Realty Plus as well as Best Affordable Housing Finance Company of the Year by ASSOCHAM.[14]

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gollark: 21/01/2021 CE.
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gollark: 5 days.
gollark: I think coral and some other people haven't submitted any stuff yet so we shouldn't run the event.

References
  1. "Indiabulls Housing Finance Company Background :- Finance - Housing, Company Background of Indiabulls Housing Finance - BSE: 535789, NSE: IBULHSGFIN". www.moneycontrol.com. Retrieved 30 April 2017.
  2. "Indiabulls Housing Finance Profit & Loss account, Indiabulls Housing Finance Financial Statement & Accounts". www.moneycontrol.com. Retrieved 30 April 2017.
  3. "Indiabulls Housing Finance Balance Sheet, Indiabulls Housing Finance Financial Statement & Accounts". www.moneycontrol.com. Retrieved 30 April 2017.
  4. "Indiabulls Housing Finance trims interest rates for existing borrowers by 15 bps - Mint Market Info". Livemint. 23 January 2017. Retrieved 30 April 2017.
  5. Kamath, Raghavendra (10 July 2014). "Indiabulls promoters split empire". Business Standard India. Retrieved 30 April 2017.
  6. Saha, Manojit (5 April 2019). "Lakshmi Vilas finds a new home in Indiabulls". The Hindu. Retrieved 6 April 2019.
  7. "Lakshmi Vilas Bank to merge with Indiabulls Housing Finance". thehindubusinessline. Retrieved 6 April 2019.
  8. "Indiabulls Housing Finance raises Rs 200 crore from 2 public lenders". The Economic Times. 12 June 2020.
  9. Bhakta, Pratik (30 June 2016). "Indiabulls Housing Finance to invest over Rs 100 crore on technology". The Economic Times. Retrieved 30 April 2017.
  10. Shetty, Mayur (26 July 2016). "Indiabulls Housing digitises home loans - Times of India". The Times of India. Retrieved 30 April 2017.
  11. "Now, you can avail a home loan online!". Rediff. 5 August 2016. Retrieved 30 April 2017.
  12. Sharma, Ashwini Kumar (5 April 2017). "Zeroing in on a home loan online". Livemint/. Retrieved 30 April 2017.
  13. Babar, Kailash; Mehta, Sangita (12 November 2015). "Indiabulls Housing Finance buys 40 per cent in UK bank". The Economic Times. Retrieved 30 April 2017.
  14. "Indiabulls Housing Finance Ltd". Business Standard India. Retrieved 30 April 2017.
  15. Editor, Manoj Nair, Associate (25 February 2015). "Indiabulls marks out its turf in Dubai". GulfNews. Retrieved 30 April 2017.CS1 maint: extra text: authors list (link)
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