With this expansion, JMFHLL aims to further diversify its presence across tier-2 and tier-3 cities in the country
Mumbai, 21st September, 2023: JM Financial Home Loans Limited (JMFHLL/the Company) today announced the launch of its branch in Bhopal, Madhya Pradesh. With the launch of this branch, JMFHLL has now expanded its network to 100 branches across 9 states in the country, spanning over western, southern and central India. This expansion aligns with the Company's focus on providing quick, hassle-free, and competitively priced affordable home loans to potential homebuyers.
The new branch was inaugurated by Mr. Manish Sheth, MD & CEO of the Company. The inauguration ceremony was also graced by senior officials of JMFHLL.
The inauguration of the Bhopal branch reflects JMFHLL’s sustained focus on the affordable housing segment. JMFHLL inter-alia offers an extensive range of products including home loans; loan against property; loans for home construction, home improvement and home extension. The team at the new branch will focus on understanding the unique needs of customers in that region and providing them with tailored made solutions for their home financing requirements. With their knowledge and expertise, the Company team will be able to guide home buyers through the loan application process, ensuring a hassle-free experience and timely approval of loans.
JMFHLL now has 8 branches in Madhya Pradesh. In six years of operations, JMFHLL has built its network at a steady pace, banking on its diverse home loan offerings.
The Company is working towards growing its loan book by banking on its transparent and quick home loan disbursement process, hassle-free and easy documentation and efficient customer service.
As a special inaugural offer and to commemorate 50 years of JM Financial Group, JMFHLL is offering a substantially reduced processing fees to all home loans aspirants. Also, the Company has recently launched Aashiyana product to cater the needs of truly affordable Low Income Group (LIG) and Economically Weaker Section (EWS)customers. ROI of the Aashiyana product starts from 9.99%, one of the best ROI in the industry.
Speaking on the announcement Mr. Manish Sheth, MD & CEO, JM Financial Home Loans said, "With the launch of Bhopal branch, we are proud to reach a great milestone of opening 100 branches in the country. The journey so far has been extremely fulfilling. The real estate market in the country is witnessing growth in demand in the affordable housing space. This is an important milestone in our quest to expand our footprint in the Central India and showcases our dedication and commitment to empower the home buyers realise their dreams of owning a house. Affordable housing is an under-penetrated and under-served market in India. Our expansion aims to facilitate hassle-free credit delivery to home buyers and support the Government’s 'housing for all' initiative."
The new branch is located at E-2/20, Kartar Tower, 1st Floor, Arera Colony nearby Rani Kamalapati Railway Station, Bhopal, Madhya Pradesh - 462 016.
About JM Financial Home Loans Limited
JM Financial Home Loans Limited (JMFHLL), an integral part of the JM Financial Group is a Housing Finance Company registered with the National Housing Bank. JMFHLL has embarked on JM Financial Group’s strategy to expand into retail mortgages business. JMFHLL received the registration in November 2017 and is focusing on (i) affordable housing finance and (ii) smaller ticket loan against property. As on June 30, 2023, JMFHLL has expanded to 93 branches across the states of Maharashtra, Gujarat, Rajasthan, Tamil Nadu, Telangana, Karnataka, Andhra Pradesh, Chhattisgarh and Madhya Pradesh with a loan book of Rs.1,450 crore and AUM of Rs. 1,576 crore. It has an employee base of 943, an average ticket size of Rs. 11 lakhs and loan to value of 57% as on June, 2023. JMFHLL’s long term debt is rated AA (Stable Outlook) by CRISIL Limited and ICRA Limited.
For more information on JM Financial Home Loans, please visit its website:
About JM Financial Group
JM Financial Group is an integrated and diversified financial services group. The Group’s primary businesses include (i) Investment Bank (IB) which caters to Institutional, Corporate, Government and Ultra High Networth clients and includes investment banking, institutional equities and research, private equity funds, fixed income, private wealth management, PMS, syndication and finance; (ii) Mortgage Lending includes both wholesale mortgage lending and retail mortgage lending (affordable home loans and secured MSME); (iii) Alternative and Distressed Credit includes the asset reconstruction business and alternative credit funds; and (iv) Asset management, Wealth management and Securities business (Platform AWS) shall provide an integrated investment platform to individual clients and includes elite and retail wealth management business, broking and mutual fund business.
As of June 30, 2023, the consolidated loan book stood at ~Rs. 158.9 BN, distressed credit business AUM at ~Rs. 151.1 BN, wealth management AUM at ~Rs. 848.3 BN, mutual fund AAUM at ~Rs. 31.5 BN.
As on June 30, 2023, the Group is headquartered in Mumbai and has a presence across 768 locations spread across 213 cities in India. The equity shares of JM Financial Limited are listed in India on the BSE and NSE.
For more information on JM Financial Limited, log on to www.jmfl.com or contact:
Tel.: +91 22 6630 3475
Chief Financial Officer
Tel.: +91 22 6916 4060