Affordable housing company SMFG Grihashakti secures Rs 300 cr from NHB

Affordable housing finance company SMFG Grihashakti has secured Rs 300 crore funding from National Housing Bank (NHB).

This is the company’s maiden long-term loan from NHB and opens up an additional avenue for long-term, low-cost funding, it said, adding that the money will help it expand its financing solutions to the under-served population, SMFG Grihashakti Chief Executive Deepak Patkar, said.

As of December 2023, it had Assets Under Management (AUM) of Rs 8,028 crore, which grew 37 per cent year-on-year.

SMFG Grihashakti provides home loans, loans for home improvement, home construction and extension, loan against property, and for purchasing commercial property, apart from project construction financing.