MUMBAI, IndiaFeb. 15, 2021 /PRNewswire/ — Home First Finance Company India Limited is a technology-driven affordable housing finance company that targets first-time buyers in low and middle-income groups.


Particulars (Rs. Mn)

9M FY21

9M  FY20














Spread* (%)



+60 bps

ROA (%)



(60) bps

Gross Stage 3(%)



+60 bps

*IGAPP basis



(540) bps


Key Highlights for 9MFY21:

Capital raised through IPO:

  • Rs. 2,650 Mn will be utilized for increasing Company’s Tier I capital, which stands at 51.0%
  • Networth as of Dec’20 is at Rs. 10,921 Mn

Asset under Management (AUM):

  • Rs. 39,406 Mn, Salaried – 74%, Self-employed – 25% and Corporate – 1%


  • Ahead of pre-COVID levels on run-rate basis. Dec’20 has surpassed Dec’19

Collection Efficiency:

  • Improving on month-on-month basis and has remained above 96% since Sep’20. It was 96.3% in Oct’20, 96.6% in Nov’20 and 97.6% in Dec’20

Asset Quality:

  • Gross Stage 3 is at 1.6% and Net Stage 3 is at 1.1%. Zero restructuring


  • As on 31st December 2020, the Company has 72 branches with presence in 11 states and 1 union territory


  • Total borrowings including debt securities are at Rs. 28,393 Mn as on 31st December 2020 from Rs. 22,050 Mn as on 31st December 2019
  • Cost of borrowings stood at 8.0% for Q3FY21


  • ECL provision as on 31st December 2020 is Rs. 461.8 Mn resulting in total provision to loans outstanding ratio at 1.4%; and the Stage 3 provision coverage ratio is at 90.4%


  • Spread on loans stood at 4.7% compared to 4.1% as of 9MFY20

Commenting on the performance Mr. Manoj Viswanathan CEO said“We would like to thank our investors for their support in making our IPO successful during the current pandemic times. The IPO was a great success with an oversubscription of 26.21 times. The equity infusion will further augment our capital adequacy ratio. The strong capital position will allow us to continue our investments in technology and accelerate our growth trajectory.

Coming to our results for Q3 & 9MFY21, the results have been in line with our expectations. We saw significant impact on the disbursements at the start of the financial year 2021 due to COVID-19 pandemic. However, with easing of lockdown restrictions and strong demand for home loans across sectors and customer types, we are witnessing an increasing trend in our disbursements on a month-on-month basis; with Dec’20 disbursements surpassing Dec’19.

Our collection efficiency ratio has reached 97%+ in Dec’20; which is very close to the pre-COVID levels. We are very conscious about our asset quality and managed to maintain our Gross Stage 3% at reasonable levels (Dec’20 at 1.6%) even in these challenging times. We continue to adopt a balanced approach to business growth with a keen focus on asset quality and profitability.

During the quarter, we have further strengthened our liquidity position and we raised 17,714 Mn of liquidity in 9MFY21. We continue to maintain a robust ALM with a cumulative positive match across all tenures.

Over the years, we have built up a strong tech-led operating model along with an integrated customer relationship management and loan management system to deliver superior service to the customers with industry leading turnaround time and continuing focus on efficiency within the Company.”

About Home First Finance Company India Limited

Home First Finance Company India Limited (Homefirst) is a technology driven affordable housing finance company that targets first time home buyers in low and middle-income groups. It primarily offers housing loans for the purchase or construction of homes. The Company has deep penetration in the largest housing finance market with network of 72 branches across 60 districts in 11 states and 1 union territory in India, with a significant presence in urbanized regions in the states of Gujarat, Maharashtra, Karnataka and Tamil Nadu. The company has diversified lead generating channels with wide network of connectors.

Safe Harbor Statement

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.