Vastu housing finance supported by the multiples expects to deepen the existence outside the subway before the IPO

Mei Nong said: “Listing is part of our journey of establishing long -term institutions. We hope to conduct in a patient and correct way.”

The company has the support of leading institutional investors and senior bankers, including large domestic funds. Vastu and PRAMOD BHASIN, Vikram Gandhi and Samir Bhatia are sowed by Renuka Ramnath. Other outstanding shareholders include IFC, Prosus (Naspers), Norwest Venture Partners (NVP), TA Associates, Faering Capital, 360 asset management and creating investment.

Menon said: “Over the passage of time, Vastu is eager to enhance technical capabilities by supporting its talent pool, and continuously establish a customer -centric franchise, thereby achieving high -level productivity and operating leverage.” Joining Vastu is added to Vastu Previously, he worked at Barclays, standard franchise banks and Ge Capital.

Transcend the subway

In a broad sense, experts said that the next growth level of the housing financial department may come from outside the metropolis.

“The real opportunity lies in the next 40 to 200-300 cities, and the urban and rural gaps are blurred. Opportunities in these areas revolved around self-employed characters in individual houses, self-construction and resale. “Increase.” Mei Nong said, “said Mei Nong said

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Government measures that have obtained significant attractiveness include digitalization of land records, improve business convenience, and surge in investment in the industry. He added: “These encouraging signs allow us to implement and be loyal to our goal addressing market.”

Affordable housing financing challenge

However, although people in rural areas have become more ambitious, they continue to face difficulties in obtaining credit.

According to Manushree Saggar, senior vice president and head of the departments of the ICRA financial department, the growth of economic affordable housing financial departments has increased significantly over the years, but its borrower base (especially low income, financial buffer are limited) easy) Harm. As a result, the illegal behavior of the department may remain very high. She said: “Therefore, seasonings (the era of mortgage loans) are still very low. Therefore, you can monitor the performance of loan books on the economic cycle.”

However, Sagga added that the market segment is expected to grow steadily. This is the help of factors such as good population statistical overview, housing shortage, government support, and the expectations of good risk adjustments to lenders. Essence

Due to the continuous growth and urbanization of core families, the population has a large share of 25-60 years, and the company is seeking to establish a base in the second and third markets, thereby further expanding the benches of housing finance companies that affordable housing finance companies. They can also benefit from the lower rents in these fields, and these rents are improving the opportunities for resources and facilities.

According to the national housing banking data cited by CII and Knight Frank, India’s financial market financial market is estimated to be worth it Bleak13 trillion US dollars ($ 160 billion), Housing Financial Company (HFCS) holds Bleak69 trillion and banks Bleak62 trillion.

Strategic expansion

Vastu is currently operating in about 14 Indian state, including Kanatak State, TELANGANA, Rajasthan, NCR, Madhya Pradesh, and North State. It has been there in the past three years. No state contributes more than 15 % of its income.

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Vastu reports the merger income of operation BleakThe 24th fiscal year is 125.4 million, compared with BleakA year ago, 76.8 billion U.S. dollars, of which the share of 2 and 3 floors was very large. Profit increase BleakFrom 3.6 million BleakAccording to its annual report, US $ 28.5 billion in fiscal year.

In the past year, the company is committed to deepening its existence in the half -city and rural areas to further bridge the gap between housing. Vastu mainly provides two key products-housing and mortgage loans.

House loan products are used to purchase new residential properties, build new residential properties and existing real estate renovation, expansion and maintenance. The mortgage loan is a loan for property to fund the personal and business needs of customers.

In recent years, the company has expanded its investment portfolio to micro -housing and micro -loan (MSME) loans including smaller customer loans. It is also committed to entering the government -supported public economy -oriented housing project. Meenon believes that there are many opportunities in these dozens of places in these fields and have received huge government support.

These measures are in a series of funds of Vastu. The company raised $ 100 million in a round of financing led by Prosus last month. Prior to this, it raised $ 400 million from TA Associates and IFC in July 2023, and raised $ 75 million from Norwest Venture Partners (360 One).

Vastu is one of the few housing finance companies to develop its own technology. Even for venture capital investors, it is also an attractive choice. They usually avoid the use of traditional departments.

Historically, there are only private equity participants in housing financing space. In recent years, venture capital companies such as Prosus, Heiving Capital and A91 partners have also invested in this field because they want to diversify and increase their risk award ratio. From the perspective of investment portfolios, these investment is more stable than typical technical investment.

Having said that, Vastu has always focused on internal construction technology, especially people on the second and third floors. Although this is usually regarded as the non -core area of ​​the company, Menon is eager to develop it internally to simplify the generation from potential customers, the origin of loans, customer management, underwriting, human resources and accounting (all on VASTU’s proprietary technology platform ) Process. pulse.

The company was founded by Sujay Patil and Menon in 2015 to provide services to more than 66,000 customers, and uses data science and analysis to provide affordable products and franchise.