Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Satin Creditcare - Launch of Affordable Housing Loan with first loan Disbursement

Posted On: 2018-02-08 07:25:43

Satin Creditcare Network Limited ("SCNL") the second largest microfinance company in the country, after recently bagging the license for housing finance, has begun operations with the first loan disbursement on Feb 7, 2018 in the semi-urban area of DelhiNCR. Satin Housing Finance has forayed into the housing finance segment with focus on affordable housing in the rural and semi-urban areas.

In line with the Government of India's mission of housing for all by 2022, the affordable housing segment is expected to receive a big boost. So far the segment has been cater to in a very miniscule way and hence there is immense opportunity for all Housing Finance companies to grow at a healthy pace.

With the existing strength of SCNL in rural and semi urban India, this will be strategic step to position Satin Housing Finance as one of the leaders in the affordable housing segment.

Supporting the vision of the government, Satin Housing Finance will cater to the housing needs of rural and semi urban segment of the population. The focus area for Satin Housing will be to cater the bottom of the pyramid segment of our population.

As per a recent CRISIL research, the current market for low ticket housing finance segment, comprising of ticket size less than Rs. 2.5 million, stood at Rs. 7.8 billion as of FY2017. This is expected to grow at a CAGR of 15-20% to reach a market size of Rs. 15.5 billion by FY2021.

Speaking on the development, Mr. H P Singh, the Chairman and Managing Director said, "With the aspiration of every Indian household to own a home, there is an immense opportunity for Satin Housing Finance to cater to and to position itself as a preferred service provider in the under penetrated affordable housing market. Satin decided to enter the housing finance segment since there exists a large supply demand gap is in the low to middle income category in rural and semi urban parts of the country. With strong footprints of Satin in microfinance lending, there is big carpet area and cross leverage opportunity to fulfill the Housing Finance needs of this segment."

He further added, "Last year, we roped in Mr. Amit Sharma as the CEO of Satin Housing Finance. Amit is a veteran in the financial services sector with expertise in housing finance. With efforts by Amit and his team, we are well poised to grow manifold in the years to come. We hope Satin Housing Finance will continue to build on the legacy of trust, efficacy and customer centricity that Satin has established over the last 27 years."

Shares of Satin Creditcare Network Ltd was last trading in BSE at Rs.431 as compared to the previous close of Rs. 408.6. The total number of shares traded during the day was 10368 in over 452 trades.

The stock hit an intraday high of Rs. 435 and intraday low of 409.75. The net turnover during the day was Rs. 4404216.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Ullico Casualty Group Selects Majesco P&C Core Suite and Majesco Enterprise Data Warehouse on Majesco CloudInsurer® to Underpin Digital Transformation and Growth Strategy

Shree Cement Ltd board to approve QIP allotment, discount, issue price on Nov 22, 2019

Siemens Ltd reappoints Deepak Parekh and Yezdi H Malegam as independent directors

Reliance Capital's stake in Reliance General Insurance Company Ltd invoked by IDBI Trustee

Brickwork Ratings reaffirms commercial paper issue rating of JSW Energy Ltd

Jio keeps consumers at the center of digital revolution in India

CARE reaffirms long term rating of Loyal Textile Mills Ltd

University of Oulu, Wipro Sign MoU to Collaborate on 5G/6G Technologies

NBCC (India) Ltd bags project consultancy contract

Siemens Ltd Board recommends Dividend of Rs. 7 for 2018-19

Dilip Buildcon Ltd arm receives provisional completion certificate for project in NH-361

Siemens Limited announces Q4 FY 2019 results

CarDekho delivers 92% growth in H1 2019-20

Bajaj Finserv offers lucrative deals on Vivo smartphones

South Indian Bank Ltd revises MCLR from Nov 20, 2019

Tata Chemicals tops 6th edition of ET Edge - Futurescape Responsible Business Rankings 2019 unveiled at Economic Times - SDG Impact Summit

RBI imposes penalty of Rs. 2.50 crores on Bank of Baroda

Alkyl Amines Chemicals Limited has sold its stake in Diamines and Chemicals Ltd

Appirio, MuleSoft Partner to Provide Digital Transformation Solutions

TCS and Govt of Karnataka Rural IT Quiz: Government Excellence School, Dewas, Madhya Pradesh wins National Finals

Infosys Foundation India International Challenge 2019 to host 250 players from 13 countries

Chembond Chemicals Ltd to list in NSE on Nov 20, 2019

Hexaware Developers Win Big at Automation Anywhere's Virtual Bot Games

Lupin launches generic KCl for Oral Solution USP, 20 mEq

Virgin Atlantic Expands Technology Partnership with TCS to Further Enhance Customer Experience

Intellect SEEC powers KSKJ Life with the implementation of AI-powered, cloud-native Fraternal Suite

Birlasoft recognized with 'Companies with Great Managers™' Award

Bharti Airtel announces increase in price from December 2019

Thomas Cook India introduces India's First 'Easy Payment Plan' for Holidays

Maruti Suzuki S-PRESSO debuts as one of India's top 10 bestselling cars within a month of its launch

Dilip Buildcon Ltd declared L1 bidder by Northern Coalfields Ltd

V2 Retail Ltd opens new retail store at Angul Town

Accelya announces acquisition by Vista Equity Partners

Panacea Biotec announces key managerial appointments

Vodafone Idea to increase tariffs effective 1 December 2019

Newgen Positioned as a Challenger in Magic Quadrant for Content Services Platforms by Gartner

YES Bank acquires 20.61% stake in Tulip Star Hotels Ltd

Kiran Mazumdar-Shaw Conferred with Lifetime Achievement Award by Indian Council of Medical Research

Prestige Estates Subsidiary has acquired equity stake in DB (BKC) Realtors Private Limited

Allied Digital Services Limited bags Smart City Project in Aurangabad, Maharashtra

Vishal Fabrics Reported an all-round performance for Q2FY20

TCS Launches Microsoft Business Unit to Help Enterprises Accelerate their Business 4.0™ Transformation Journeys

Tata Communications provides Visteon with a fully managed software-defined wide-area network

Super Crop Safe Limited announces Financial Results for Q2FY20

Pidilite Industries Ltd appoints Mr. Pradip Menon as CFO

Accelya Solutions India Ltd's holding company to be sold

Brickwork downgrades CRNCPS rating of Zee Entertainment Enterprises Ltd

Order of the Rising Sun, Gold and Silver Star by Japanese Prime Minister to Dr Jyotsna Suri, Director

Intellect collaborates with Cambridge Judge Business School for a prestigious Executive Leadership Programme on Digital Transformation

Zydus announces second Phase 3 trial of Desidustat







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019