The company was incorporated as ‘Home First Finance Company India Private Limited’ at Bengaluru, Karnataka as a private limited company under the Companies Act, 1956, pursuant to the certificate of incorporation dated February 3, 2010 issued by the Registrar of Companies, Karnataka at Bengaluru. Subsequently, the company was converted to a public limited company and consequently the name of the company was changed to ‘Home First Finance Company India Limited’ and a fresh certificate of incorporation dated March 14, 2018 was issued by the Registrar of Companies, Maharashtra at Mumbai (RoC). The company is a technology driven affordable housing finance company that targets first time home buyers in low and middle-income groups. It primarily offers customers housing loans for the purchase or construction of homes.

It has increased the scale of its operations and grown its branches by adopting a strategy of contiguous expansion across regions and have strategically expanded to geographies where there is substantial demand for housing finance. The company utilizes a diverse range of lead sourcing channels such as connectors, architects, contractors, affordable housing developers, in addition to conducting loan camps and micro marketing activities, and utilizing employee and customer referrals and branch walk-in customers.

Business area of the company

The company primarily caters to the low and middle income groups by offering them housing loans to construct and buy homes. It further offers other loans like loans against property, developer finance loans, and loans to buy commercial property.

Products

Home Loans for Salaried Professionals
Home Loans for the Self Employed
Home Construction Loans
Home Extension & Renovation Loan
Loan Against Property
Home Loans for NRIs
Home Loans for Senior Citizens
Home Loan Balance Transfer
Home Loan Top Up
Shop Loans
Loans for purchase of Commercial Property

Major events and milestones

2010: Incorporation of the company
2010: Obtained certificate of registration from NHB with Jaithirth Rao and P. S. Jayakumar as the promoters of the company
2011: Investment by Bessemer in the company
2012: Change of its registered office to Mumbai
2012: Expanded operations in Gujarat and Tamil Nadu
2013: Approved 1,000 loans, and Gross Loan Assets of the company became Rs 689.5 million
2013: CARE Credit Rating for long term bank facilities was BBB-
2013: Investment by Alpha TC Holdings Pte Limited in the company
2014: Company became profitable with Gross Loan Assets of Rs 1,629.1 million
2014: CARE Credit Rating for long term bank facilities improved to BBB+
2015: Company had customer base of 5,000 with Gross Loan Assets of Rs 3,368.3 million
2016: Customer base crossed over 10,000 spread across over 25 cities and Gross Loan Assets of the company touched Rs 5,477.4 million
2016: Further investment by Bessemer in the company and Alpha TC Holdings Pte Limited
2016: CARE Credit Rating for long term bank facilities improved to A
2017: Investment by TN V LLP and Aether in the company
2017: ICRA Credit Rating for long term bank facilities improved to A+ and CARE Credit Rating for long term bank facilities improved to A
2017: Gross Loan Assets became Rs 8,473.2 million
2017: Exit of Alpha TC Holdings Pte Limited
2018: Net worth of the company crossed Rs 5,000 million and Gross Loan Assets became Rs 13,559.3 million
2018: Declassification of Jaithirth Rao as the promoter of the company
2019: Customer base crossed over 30,000 with Gross Loan Assets touching Rs 24,435.7 million
2019: Approved over 55,000 housing loans
2019: Declassification of P. S. Jayakumar as the promoter of the company
2020: Investment by Orange Clove in the company
2020: The company was certified as a “Great Place to Work” by Great Place to Work Institute, India for a period from November, 2020 to October, 2021

Market Cap	9,046 Cr	ROE	13.6%
P/E Ratio(TTM)	34.0	EPS(TTM)	0.0
P/B Ratio	4.6	Dividend Yield	0.3%
Industry P/E	15.4	Book Value	220.3
		Face Value	2.0

Fundamentals