Muthoot plans to disburse Rs 700-cr home loans

In the first nine months of 2020-21, the housing finance company disbursed Rs 85.6 crore as against Rs 356.4 crore in the same period of the previous fiscal

Mumbai: Muthoot Homefin (India) Ltd (MHIL), a wholly-owned subsidiary of Muthoot Finance, on Sunday said it plans to disburse Rs 700 crore of home loans in the 2021-22 fiscal.

In the first nine months of 2020-21, the housing finance company disbursed Rs 85.6 crore as against Rs 356.4 crore in the same period of the previous fiscal. Currently, it has assets under management of Rs 1,800 crore, a company release said.

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The company’s Managing Director George Alexander Muthoot said the company “is aiming to disburse Rs 700 crore of home loans in FY2021-22. We are steadfastly progressing on taking the ‘Housing for All’ initiative of the government to the farthest tier II and III locations in the country in order to support the affordable housing needs and aspirations of every Indian.”

He said the company, as of now, will focus on expanding its operations in the southern states of the country, he said.