Shriram Housing Finance Ltd is soon going to enter into the housing finance business. The company has got license from National Housing Bank (NHB) in this regard.
It is a fully owned subsidiary of Shriram City Union Finance.
"We have just received approval from the National Housing Bank and we will shortly begin our housing finance operations," the Shriram Housing Managing Director and CEO, Mr Sujan Sinha said.
The NBFC is presently into lending to the gold loan, SME loan and auto loan segment.
"I am expecting a lending of about Rs 700-800 crore in the next 18 months. We will take a call on additional funding options of equity infusion after we reach around Rs 800 crore exposure level," Mr Sinha said.