Mumbai (Maharashtra) [India]: Aditya Birla Housing Finance Limited (ABHFL), a wholly-owned subsidiary of Aditya Birla Capital Limited, has signed a Memorandum of Understanding (MoU) with the National Housing Bank (NHB) to bolster the Pradhan Mantri Awas Yojana (PMAY) mission of ‘Housing for All.’
This collaboration aims to provide tailored housing finance solutions for economically weaker sections (EWS), low-income groups (LIG), and middle-income groups (MIG) across India.
Key Highlights of the Initiative:
- Loan Offerings:
- Up to ₹25 lakh for families earning ₹3 lakh annually (EWS category).
- Up to ₹6 lakh for LIG and ₹9 lakh for MIG categories.
- PMAY Subsidy:
- Eligible customers can avail of a subsidy of up to ₹1.80 lakh, disbursed in five yearly installments.
- Focus Groups:
- Includes small business owners, vendors, self-employed professionals, and salaried individuals, particularly in underserved regions.
- Home Specifications:
- Supports homes with a carpet area of up to 120 square meters.
Empowering Communities:
Pankaj Gadgil, MD & CEO of Aditya Birla Housing Finance Ltd., highlighted the company’s commitment to inclusive growth.
“In line with PMAY’s ‘Housing for All’ vision, our ‘Happy Home Loan Journey’ simplifies home financing for customers. By prioritizing affordability and accessibility, we aim to empower communities and make homeownership seamless, helping more Indians turn their dreams into reality,” he stated.
Aditya Birla Housing Finance and Capital Limited Overview:
- Operational Scale:
- As of September 2024, ABHFL manages over ₹23,236 crore in assets.
- Expanded footprint to 150 branches nationwide.
- Credit Ratings:
- Long-term: AAA (Stable) by CRISIL, ICRA & India Ratings.
- Short-term: A1+ by CRISIL, ICRA & India Ratings.
- Parent Company – Aditya Birla Capital Limited (ABCL):
- A Core Investment Company (CIC) with a consolidated lending book of ₹1.38 lakh crore.
- Managing assets worth over ₹5.0 lakh crore.
Global Strength of the Aditya Birla Group:
Aditya Birla Group, a $66 billion Fortune 500 conglomerate, boasts a presence in over 40 countries with 50% of its revenues from overseas operations. With seven decades of responsible business practices, the group operates across diverse sectors, employing over 187,000 people globally.
This partnership reflects the growing synergy between government initiatives and private enterprise, working together to realize the dream of affordable housing for every Indian.