April 26, 2024 05:02 (IST)
Follow us:
DMI Finance expands its housing finance business
New Delhi, Sept 23 (IBNS): DMI Finance, a leading NBFC in India, has today announced plans to expand the retail business of its subsidiary DMI Housing Finance.
While DMI Finance continues to focus on providing wholesale corporate loans pan-India, DMI Housing Finance is focusing on expanding its business of providing mortgages and LAPs to home buyers and owners.
Speaking on the occasion, Yuvraj Singh, co-founder and joint-MD, DMI Finance said, “We are very excited about the retail mortgage business in India. Total mortgage debt remains lower than 10% of GDP while in the US it is closer to 80% of GDP. A youthful population, rapid urbanization, regular income growth and a very supportive Government is creating a huge opportunity for both borrowers and lenders.”
Shivashish Chatterjee, co-founder and joint-MD added: “Household wealth in India is almost $4 trillion of which about $3 trillion is locked in real estate. Housing finance is an effective way to unlock this wealth for more productive use. DMI Housing Finance will play its part in this very important function with an initial focus on North India. We expect to continually expand our product offering to meet the varying needs of home buyers and owners.”
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Vedanta Ltd Q4FY24 net profit drops 27% YoY to Rs 1,369 cr Thu, Apr 25 2024
Swiggy gets shareholders' nod for $ 1.2 billion IPO Thu, Apr 25 2024
HUL Q4FY24 profit drops 6% YoY to Rs 2,406 cr Thu, Apr 25 2024
Credit card spending grows 27% YoY to Rs 18.26 trillion in FY24: RBI Thu, Apr 25 2024
Mahindra Tractors crosses milestone by selling 40 lakh tractor units Thu, Apr 25 2024
DishTV India expects to touch 30 percent market share at the end of current financial year, says CEO Manoj Dobhal Thu, Apr 25 2024
DCB Bank Q4FY24: PAT grows YoY 9% to Rs 156 cr Wed, Apr 24 2024