SMFG Grihashakti Secures Maiden Rs 300 Cr Long-Tenor Funds From NHB

New Delhi, January 23, 2024: SMFG Grihashakti, has secured long-tenor funds amounting to Rs 300 Crore from National Housing Bank (NHB). 

Deepak Patkar, MD & CEO, SMFG Grihashakti, said, “It is our endeavour to bring affordable housing finance solutions to the underserved population and to fulfil homeownership dreams across the country. This maiden fund raise of INR 300 cr is a strategic step towards achieving this objective and demonstrates NHB’s confidence in our business model and financial stability.” 

A press release issued by the company says that, as on Dec 31, 2023, SMFG Grihashakti’s AUM stands at Rs 8028 cr, showing a 37% CAGR growth over last two years, coupled with a significant improvement in asset quality. 

SMFG Grihashakti provides a diverse range of financial products to its customers across the country, including loans for home improvements, home constructions, home extensions, loans against properties, and loans for purchasing commercial properties. Additionally, SMFG Grihashakti also offers project construction financing solutions to mid-tier developers.