GRUH Finance
| GRUH Finance
|
|
|---|---|
.png) |
|
| legal form | Public Company ( India ) |
| ISIN | INE580B01029 |
| founding | 1986 |
| Seat |
Ahmedabad , India
|
| management |
|
| Branch | Home Financing |
| Website | www.gruh.com |
GRUH Finance ( NSE : GRUH, BSE : 511288) is a real estate finance company based in Ahmedabad , India . GRUH is registered with the National Housing Bank (NHB) , a government financial institution in India. The company provides home loans to low-income people. As of March 31, 2019, the company employed 677 people.
history
The company was founded in 1986 by Hasmukhbhai Parekh as the Gujarat Rural Housing Finance Corporation . At the time the company was established, the Gujarat government provided initial funding of INR 20 million .
In the early 1990s, the company began testing real estate finance in the rural state of Gujarat . In the 1991/92 financial year the debt ratio was 6.8%. However, due to the rural customer base, loan payments were delayed due to harvest delays.
In the 1994/95 financial year things did not go well for GRUH Finance due to an emerging real estate crisis. The new CEO Sudhin Choksey decided to focus on low-income homebuyers, a profitable segment with constant growth. He introduced credit services to those on regular incomes with no formal evidence. The company is involved in the state housing subsidy Pradhan Mantri Awas Yojana (PMAY) , especially for customers who belong to the financially weaker part of society. Prior to PMAY, GRUH was involved in a number of low-income housing projects in western India. The company bounced back and was ranked eighth on the list of India's top ten real estate finance firms in 1998 by capital and deposits.
Merger
Since October 19, 2019, GRUH has been part of Bandhan Bank , a private Indian bank based in Calcutta . Bandhan Bank had agreed to take over Gruh from HDFC for INR 16.65 million in a share swap.
Web links
Individual evidence
- ↑ (A) List of Housing Finance Companies granted Certificate of Registration (COR) WITH PERMISSION TO ACCEPT PUBLIC DEPOSITS. National Housing Bank, accessed October 17, 2019 .
- ^ P. Hanumantha Rao: Housing Financing Performance Assessment Companies in India . March 2018, ISSN 0974-1119 ( welingkar.org [PDF]).
- ↑ GRUH Finance Directors Report | GRUH Finance Director Details - The Economic Times. Retrieved October 14, 2019 .
- ^ Real Estate, Asia-Pacific, India: Gruh Finance: Serving the Underserved in the Housing Sector. Retrieved October 14, 2019 .
- ↑ Hansavivek: Companies: New Schemes from HDFC . In: Economic and Political Weekly . tape 21 , no. 37 , 1986, ISSN 0012-9976 , pp. 1618-1620 , JSTOR : 4376109 .
- ^ Raymond J. Struyk, R. Marisol Ravicz: Housing Finance in LDCs: India's National Housing Bank as a Model? The Urban Institute, 1992, ISBN 0-87766-565-6 ( limited preview in Google Book Search).
- ↑ How Sudhin Choksey carved a niche for Gruh Finance. Retrieved October 14, 2019 .
- ↑ Loan Provider under Credit Linked Subsidy Scheme (CLSS) under PMAY - India. In: Housing Finance Company India, Rural Housing Finance Company - India. Retrieved October 23, 2019 (American English).
- ^ Nicholas Burger, Italo Gutierrez, Krishna B. Kumar, Jill E. Luoto, Dhaval Monani: The Ashray Housing Project . In: The Socioeconomic Effects of the Working Poor Moving to Permanent Dwellings (= The Case of the Ashray Affordable Housing Pilot Project in India ). RAND Corporation, 2014, p. 5–8 , doi : 10.7249 / j.ctt14bs2q2.10 , JSTOR : 10.7249 / j.ctt14bs2q2.10 .
- ↑ Masakazu [editor] * Lea Watanabe: New directions in Asian housing finance - linking capital markets and housing finance . No. 23482 . The World Bank, September 30, 1998, pp. 1 ( worldbank.org [accessed October 14, 2019]).
- ↑ Our Bureau: Gruh Finance to merge with Bandhan Bank. Retrieved October 14, 2019 .
- ↑ HDFC sells Gruh Finance shares worth nearly Rs 1,665 crore. Retrieved October 23, 2019 .