Aspire Home Finance Corporation Ltd Disburses first loans in Virar, Kalyan, Indore, Akola & Nagpur

MUMBAI, India - July 16, 2014 - PRLog -- Aspire Home Finance Corporation Ltd (AHFCL) Disburses first loans in Virar, Kalyan, Indore, Akola and Nagpur

Wednesday, July 16, 2014:  Aspire Home Finance Corporation Limited (AHFCL) is off to an impressive start post receiving Certificate of Registration from the National Housing Bank.

AHFCL has received more than 400 home loan applications sourced from locations in Maharashtra (Mumbai (Virar, Kalyan and Panvel), Nashik, Nagpur, Pune and Akola), Madhya Pradesh (Indore) and Gujarat (Ahmedabad and Surat) in the first seven weeks of business operations.

The Company has disbursed its first loans from Mumbai (Virar and Kalyan), Akola, Nagpur and Indore. AHFCL has helped realize the dreams of over 50 families to own a home in this short span of time. The key highlight of the performance being all applications sourced are retail home loan applications reflecting the strong focus of the AHFCL senior management on retail lending.

Commenting on the business performance, Mr. Anil Sachidanand, MD & CEO of AHFCL said, “We are happy from the positive response received at these locations. We have a healthy sanction pipeline of Rs.40 crs and we plan to have a loan book size of Rs.50 crs by the end of the second quarter of the current financial year. We expect to disburse Rs.220 crs in the current financial year through our 12 planned locations in Maharashtra, Madhya Pradesh and Gujarat” Adding further, he said “We have a robust technology platform and all the applications have been processed using our core application. Even, the disbursement process has taken place through the system which is an operational milestone for the Company. We remain committed to our mission of providing hassle free housing loan assistance for affordable residential units which qualify under priority sector lending”

AHFCL plans to have a pan India presence through branches and sales centers in the extended suburbs of Metros & Mini Metros towns and Tier II and Tier III cities catering to lower and middle income customers who want to own a home.

About Aspire Home Finance Corporation Ltd (AHFCL)

Aspire Home Finance Corporation Ltd (AHFCL) is a professionally managed company with a unique combination of financially sound and technically experienced promoters who are well known in their domain for professional ethics and strong execution capabilities. AHFCL is managed by a professional promoter – Mr. Anil Sachidanand; who is a veteran of over 25 years in the Home Finance business in India. Anil Sachidanand (MD & CEO) and a team of experienced Home Finance professionals will be responsible for execution of day to day operations of the company, guided by an experienced Board of Directors from the fields of Banking and Finance. The stated mission of AHFCL is to provide housing finance to affordable housing segment across India on equitable terms by targeting to enhance housing stock amongst lower and middle income Indian families.

About Motilal Oswal Securities Limited

Motilal Oswal Securities Ltd. is a part of Motilal Oswal Financial Services Ltd. (MOFSL).  MOFSL (NSE- MOTILALOFS, BSE- 532892, BLOOMBERG: MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 1,546 business locations spread across 519 cities and the online channel to over 792,858 registered customers. MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions. MOFSL has been ranked by various polls such as the Best Local Brokerage 2005, Most Independent Research - Local Brokerage 2006 and Best Overall Country Research - Local Brokerage 2007 in Asia Money Brokerage Polls for India. MOSL won 4 awards in the ET-Now Starmine Analyst Awards 2010-11, placing it amongst the Top-3 award winning brokers, was ranked No. 2 by AsiaMoney Brokers Poll 2010 in the Best Local Brokerage Category and won the ‘Best Market Analyst’ Award for 2 sectors at the India’s Best Market Analyst Awards 2011. MOFSL won the ‘Best Capital Markets and Related NBFC’ award at the CNBC TV18 Best Banks and Financial Institutions Awards 2011. MOSL also won the ‘Best Equity Broking House’ award for FY11 at the Dun & Bradstreet Equity Broking Awards 2011. MOSL won the ‘Best Performing National Financial Advisor Equity Broker' award at the CNBC TV18 Financial Advisor Awards 2013, for the 3rd year in a row. MOSL won ‘Best Equity Broker’ award at Bloomberg UTV Financial Leadership Awards 2012, ‘Retailer of the Year (Banking & Financial Services) award at Retail Excellence Awards 2012, and was ranked 2nd in the “Best Overall Brokerage” category by Asia Money in 2011. Motilal Oswal Private Equity won ‘Best Growth Capital Investor-2012’ award at the Awards for Private Equity Excellence 2013. MOSL was adjudged amongst the Top 20 innovators in BFSI for ‘Leveraging on technology in enhancing customer experience’ at the Banking Frontiers Finnoviti Awards 2012, and won the ‘Quality Excellence for Best Customer Service Result’ award at National Quality Excellence Awards 2013.

For more information please contact:

Alpesh Nakrani / Anirudh Rajan

Paradigm Shift Public Relations

Mob: +91 9869121167 / +91 9892343828

Tel:  +91 22 22813797 / 98

Mr. Hari Krishnan

Motilal Oswal Financial Services Ltd.

Mob:  +91 9820520392

Ph: +91 22 39825500