About
Founded in 2006,IIFL Home Finance Limited (formerly known as India Infoline Housing Finance Limited) ('IIFL HFL'/ 'the Company'), is a wholly owned subsidiary of IIFL Finance Limited (formerly known as IIFL Holdings Limited) w.e.f. March 30, 2020 (hereinafter referred to as the 'Effective Date'). Prior to the Effective Date, the Company was a wholly owned subsidiary of India Infoline Finance Limited ('Amalgamating Company') which got amalgamated into IIFL Finance Limited (formerly known as IIFL Holdings Limited), ('Amalgamated Company') on April 01, 2018 (hereinafter referred to as 'Appointed Date'). IIFL HFL received a Certificate of Registration from the National Housing Bank ('NHB') in February 2009 to carry on the business of a housing finance institution. IIFL HFL offers housing finance in line with The Housing Finance Companies (NHB) Directions.
On 30 December 2015,the company has allotted 1818181 equity shares of Rs 10 each to India Infoline Finance Ltd at a premium of Rs 540 per share on preferential basis. During the year 2015-16,the Board of Directors on 04 March 2016 approved the conversion of 135000000 CCPS of Rs 10 each held by India Infoline Finance Ltd to 2250000 equity shares of Rs 10 each issued at a premium of Rs 590 per share.
During the FY2017,the company has allotted 3000000 equity shares of Rs 10 each at a premium of Rs 740 per share on 30 September 2016 and 2000000 equity shares of Rs 10 each at a premium of Rs 790 per share on 30 March 2017.
During the year 2017-18, the Company issued Secured Redeemable Non Convertible Debentures aggregating to an amount of Rs 3,521 Million and Unsecured Redeemable Non Convertible Subordinated Debentures aggregating to an amount of Rs 1,850 Million. Further, the Company redeemed Non Convertible Debentures of amounting to Rs 3,953 Million (face value), issued on private placement basis.
During the year, the Company has securitised/assigned the receivables of housing loan portfolio aggregating to Rs 9,893.02 Million and non- housing loan portfolio aggregating to Rs 7,500.20 Million.
As on 31 March 2018, the company had a distribution network spread across 17 states and 79 branches in India.
The Loan book of Company grew robustly by 45.46% to Rs 119,169.25 Million as of 31 March 2018 as against Rs 81,924.01 Million in the previous year.
During the FY2019,the company issued and allotted 1000000 equity shares of Rs 10 each at a premium of Rs 990 per share aggregating to Rs 1000 million on rights basis.
The name of the company has been changed to IIFL Home Finance Ltd from India Infoline Housing Finance Ltd with effect from 02 May 2018.
During the year 2018-19, the Company issued Secured Redeemable Non Convertible Debentures aggregating to an amount of Rs 13725.74 Million and Unsecured Redeemable Non Convertible Subordinated Debentures aggregating to an amount of Rs 1965.16 Million. Further, the Company redeemed Non Convertible Debentures of amounting to Rs 14294.25 Million (face value), issued on private placement basis. Further the company also redeemed NCDs issued to the public aggregating to an amount of Rs 3759.02 million.
During the year, the Company has securitised/assigned the receivables of housing loan portfolio aggregating to Rs 35925.74 Million and non- housing loan portfolio aggregating to Rs 5710.85 Million.
The Loan book of Company grew by 7.19% to Rs 134002.60 Million as of 31 March 2019 as against Rs 125009.37 Million in the previous year.
As on 31 March 2019, the company had a distribution network spread across 17 states and 127 branches in India.
During the FY2020, the Company issued Secured Redeemable Non Convertible Debentures aggregating to an amount of Rs 3,000 million and did not issue Unsecured Redeemable Non Convertible Subordinated Debentures. Further, the Company redeemed /Bought Back Non Convertible Debentures of amounting to Rs 4,438.5 million, issued on private placement basis. Further, the Company also redeemed NCDs issued to the public aggregating to an amount of Rs 1,977.9 million.
During the year 2019-20, the Company has securitised /assigned the receivables of housing loan portfolio aggregating to Rs 21,010.53 million and non housing loan portfolio aggregating to Rs 7,090.08 million.
During the year, the Company availed Rs 7,000 million of refinance facility from NHB under various refinance schemes of NHB. Further, the Company raised funds by way of borrowing from term loans, issuance of Commercial paper and other sources. As on 31 March 2020, total loan outstanding stood at Rs 1,13,195.52 million.
During the year ended 31 March 2020, Assets Under Management (AUM) of the Company has grown by 2% to Rs 1,84,947 million.The Loan book of the company has de-grown by 4% to Rs 128,139.6 million as on 31 March 2020 from Rs 134,002.6 million as on 31 March 2019.
The Covid-19 pandemic has disrupted global economy and created unprecedented challenges. Economic activity in India was down to a standstill owing to the nation-wide lockdown in India from 25 March 2020. The housing finance industry was severely impacted with disruption in collections, moratorium to customers, challenges in raising funds and Banks not granting moratorium, adversely affecting the business performance in the last quarter of the financial year.
Company History
Founded in 2006,IIFL Home Finance Limited (formerly known as India Infoline Housing Finance Limited) ('IIFL HFL'/ 'the Company'), is a wholly owned subsidiary of IIFL Finance Limited (formerly known as IIFL Holdings Limited) w.e.f. March 30, 2020 (hereinafter referred to as the 'Effective Date'). Prior to the Effective Date, the Company was a wholly owned subsidiary of India Infoline Finance Limited ('Amalgamating Company') which got amalgamated into IIFL Finance Limited (formerly known as IIFL Holdings Limited), ('Amalgamated Company') on April 01, 2018 (hereinafter referred to as 'Appointed Date'). IIFL HFL received a Certificate of Registration from the National Housing Bank ('NHB') in February 2009 to carry on the business of a housing finance institution. IIFL HFL offers housing finance in line with The Housing Finance Companies (NHB) Directions.
On 30 December 2015,the company has allotted 1818181 equity shares of Rs 10 each to India Infoline Finance Ltd at a premium of Rs 540 per share on preferential basis. During the year 2015-16,the Board of Directors on 04 March 2016 approved the conversion of 135000000 CCPS of Rs 10 each held by India Infoline Finance Ltd to 2250000 equity shares of Rs 10 each issued at a premium of Rs 590 per share.
During the FY2017,the company has allotted 3000000 equity shares of Rs 10 each at a premium of Rs 740 per share on 30 September 2016 and 2000000 equity shares of Rs 10 each at a premium of Rs 790 per share on 30 March 2017.
During the year 2017-18, the Company issued Secured Redeemable Non Convertible Debentures aggregating to an amount of Rs 3,521 Million and Unsecured Redeemable Non Convertible Subordinated Debentures aggregating to an amount of Rs 1,850 Million. Further, the Company redeemed Non Convertible Debentures of amounting to Rs 3,953 Million (face value), issued on private placement basis.
During the year, the Company has securitised/assigned the receivables of housing loan portfolio aggregating to Rs 9,893.02 Million and non- housing loan portfolio aggregating to Rs 7,500.20 Million.
As on 31 March 2018, the company had a distribution network spread across 17 states and 79 branches in India.
The Loan book of Company grew robustly by 45.46% to Rs 119,169.25 Million as of 31 March 2018 as against Rs 81,924.01 Million in the previous year.
During the FY2019,the company issued and allotted 1000000 equity shares of Rs 10 each at a premium of Rs 990 per share aggregating to Rs 1000 million on rights basis.
The name of the company has been changed to IIFL Home Finance Ltd from India Infoline Housing Finance Ltd with effect from 02 May 2018.
During the year 2018-19, the Company issued Secured Redeemable Non Convertible Debentures aggregating to an amount of Rs 13725.74 Million and Unsecured Redeemable Non Convertible Subordinated Debentures aggregating to an amount of Rs 1965.16 Million. Further, the Company redeemed Non Convertible Debentures of amounting to Rs 14294.25 Million (face value), issued on private placement basis. Further the company also redeemed NCDs issued to the public aggregating to an amount of Rs 3759.02 million.
During the year, the Company has securitised/assigned the receivables of housing loan portfolio aggregating to Rs 35925.74 Million and non- housing loan portfolio aggregating to Rs 5710.85 Million.
The Loan book of Company grew by 7.19% to Rs 134002.60 Million as of 31 March 2019 as against Rs 125009.37 Million in the previous year.
As on 31 March 2019, the company had a distribution network spread across 17 states and 127 branches in India.
During the FY2020, the Company issued Secured Redeemable Non Convertible Debentures aggregating to an amount of Rs 3,000 million and did not issue Unsecured Redeemable Non Convertible Subordinated Debentures. Further, the Company redeemed /Bought Back Non Convertible Debentures of amounting to Rs 4,438.5 million, issued on private placement basis. Further, the Company also redeemed NCDs issued to the public aggregating to an amount of Rs 1,977.9 million.
During the year 2019-20, the Company has securitised /assigned the receivables of housing loan portfolio aggregating to Rs 21,010.53 million and non housing loan portfolio aggregating to Rs 7,090.08 million.
During the year, the Company availed Rs 7,000 million of refinance facility from NHB under various refinance schemes of NHB. Further, the Company raised funds by way of borrowing from term loans, issuance of Commercial paper and other sources. As on 31 March 2020, total loan outstanding stood at Rs 1,13,195.52 million.
During the year ended 31 March 2020, Assets Under Management (AUM) of the Company has grown by 2% to Rs 1,84,947 million.The Loan book of the company has de-grown by 4% to Rs 128,139.6 million as on 31 March 2020 from Rs 134,002.6 million as on 31 March 2019.
The Covid-19 pandemic has disrupted global economy and created unprecedented challenges. Economic activity in India was down to a standstill owing to the nation-wide lockdown in India from 25 March 2020. The housing finance industry was severely impacted with disruption in collections, moratorium to customers, challenges in raising funds and Banks not granting moratorium, adversely affecting the business performance in the last quarter of the financial year.