Indiabulls Housing Finance

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Indiabulls Housing Finance Limited
TypePublic
ISININE148I01020
IndustryFinancial services
Founded2000; 21 years ago (2000)[1]
Headquarters
Gurugram
,
India
Area served
India, United Kingdom, United Arab Emirates
Key people
Sameer Gehlaut
(Chairman)
Services
RevenueIncrease₹170.27 billion (US$2.3 billion) [2] (2019)
Increase ₹76.18 billion (US$1.0 billion) (2016)
 (2020)
Total assetsIncrease ₹751 billion (US$10 billion) [3] (2016)
Websitewww.indiabullshomeloans.com

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]

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] However the RBI resoundingly rejected the proposal from Indiabulls Housing Finance amid allegations of gross financial mismanagement and irregularities with connection to the promoter ex-billionaire Sameer Gehlaut.[9]

Technology and Digitisation[]

In 2016, Indiabulls Housing Finance announced that it would invest ₹100 crore in innovative technology platforms.[10] The same year it became the first mortgage company to complete an end-to-end digitisation of loan sanctions in India.[11] 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.[12] The mortgage agreements signed through this route as stored digitally in NSDL depository participant accounts.[10] It also has an application on Facebook, IB Easy which facilitates loan applications through social media.[13]

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.[14] The company also has a branch office in Dubai, United Arab Emirates.[15] It provides loans to Non Resident Indians based in UAE to buy properties in India.[16]

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.[15]

  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. ^ "RBI rejects Indiabulls".
  10. ^ a b Bhakta, Pratik (30 June 2016). "Indiabulls Housing Finance to invest over Rs 100 crore on technology". The Economic Times. Retrieved 30 April 2017.
  11. ^ Shetty, Mayur (26 July 2016). "Indiabulls Housing digitises home loans - Times of India". The Times of India. Retrieved 30 April 2017.
  12. ^ "Now, you can avail a home loan online!". Rediff. 5 August 2016. Retrieved 30 April 2017.
  13. ^ Sharma, Ashwini Kumar (5 April 2017). "Zeroing in on a home loan online". Livemint/. Retrieved 30 April 2017.
  14. ^ Babar, Kailash; Mehta, Sangita (12 November 2015). "Indiabulls Housing Finance buys 40 per cent in UK bank". The Economic Times. Retrieved 30 April 2017.
  15. ^ a b "Indiabulls Housing Finance Ltd". Business Standard India. Retrieved 30 April 2017.
  16. ^ 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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