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:

USFDA classifies Torrent Pharmaceuticals Ltd's Dahej facility as OAI

Firstsource Solutions Ltd appoints Mr. Vipul Khanna as MD & CEO

Mindtree Ltd Q1 net profit falls to Rs. 92.7 crores

CARE Ratings reaffirms ratings of S Chand and Company Ltd

Allahabad Bank reports borrowal fraud of exposure in SEL Manufacturing Ltd

Ind-Ra downgrades rating of Eveready Industries India Ltd

Thomas Cook India honoured with 'India Travel Partner of the Year 2018' Award by SAP Concur

Confidence Petroleum India Ltd board to announce first quarter results on July 26, 2019

Excel Industries Ltd board to approve quarterly results on Aug 13, 2019

MPS Ltd board to consider Q1 results on July 24, 2019

Newgen Secures Patent for Automated Quality and Usability Assessment of Scanned Documents

DFM Foods Ltd posts PAT of Rs. 7.63 crore in Q1 FY20

Sudarshan Chemical Industries Ltd board to approve first quarter results on Aug 7, 2019

Alkyl Amines Chemicals Ltd calls for board meeting on Aug 6, 2019

Torrent Power Ltd board to consider 1st quarter results on Aug 5, 2019

Shoppers Stop Ltd board to approve Q1 results on July 30, 2019

YES Bank Ltd reports net profit of Rs. 95.56 crores in Q1 FY20

OIL sign contract for the blocks awarded under OALP Bids Round II & III

MAGGI Fusian Noodles Records Overwhelming Sales On Amazon Prime Days

WIPRO Ltd Q1 FY20 consolidated PAT up YoY at Rs. 2387.6 crores

Mahanagar Gas Ltd board to consider Q1 results on Aug 8, 2019

Insecticides India Ltd board to announce first quarter results on Aug 2, 2019

Khadim India Ltd board to approve 1st quarter results on Aug 6, 2019

NMDC Ltd announces production and sales for June 2019

Ind-Ra updates on ratings of Rajkumar Forge Ltd

Menon Bearings Ltd Board declares Interim Dividend of Rs. 1.25

Jindal Stainless Limited clamps down on counterfeit market with a co-branding initiative

Aditya Birla Money Ltd Q1 PAT up at Rs. 3.49 crore

Rajratan Global Wire Ltd Board to consider Bonus Issue

Menon Bearings Ltd Q1 FY20 net profit slips to Rs. 4.73 crore

CARE Ratings Ltd Board to consider Q1 results & Dividend on July 31, 2019

Monsanto India Ltd board to announce quarterly results on July 24, 2019

Dhanlaxmi Bank Ltd reports net profit of Rs. 19.84 crores in Q1 FY20

Cera Sanitaryware LtdCera Sanitaryware Ltd board to consider Q1 results on Aug 1, 2019

TATA Elxsi Ltd Q1 FY20 net profit falls to Rs. 48.79 crore

L&T Construction led JV secures contract for 100 MLD Desalination Plant

LTI to Acquire Advanced Analytics Firm Lymbyc

Dilip Buildcon, Shaanxi JV emerges L1 bidder for new EPC project in Karnataka

Dilip Buildcon Ltd receives provisional completion certificate for section of NH-33 project

Brickwork revises NCD rating of Vodafone Idea Ltd

MCX's consolidated total income up by 30% to Rs. 110.84 crore in Q1 FY 2019-20

DCB Bank announces First Quarter FY 2020 Results

5paisa Capital - Income for Q1FY20 at Rs. 2,288 Lakhs

Zensar is a Gold sponsor at the ISG Automation Summit 2019, New York

Astron Paper & Board Mill Ltd updates on shut down of plant

Manaksia Ltd appoints Mr. Bharat Begwani as CFO

NTT Com-Netmagic Partners with Tata Power to Build 50 MW Solar Power Project

Agro Tech Foods Ltd reports Q1FY20 PAT of Rs. 7.02 crore

B C Power Controls Ltd Q1 net profit at Rs. 0.86 crore

Jay Bharat Maruti Ltd consolidated Q1 net profit slides to Rs. 7.84 crore







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

disclaimer copyright © 2005 - 2019