Mahindra Rural Housing Finance Ltd. (MRHFL), a subsidiary of Mahindra & Mahindra Financial Services Ltd. (MMFSL), has announced that the National Housing Bank (NHB), an existing shareholder in MMFSL has invested in the company’s Rights Issue.
“The National Housing Bank, besides its supervisory role, also has a strong developmental role with respect to the housing finance industry. This investment reflects the bank’s focus on developing the housing finance industry by encouraging companies operating in niche areas, this Company which operates in the rural space has the potential for financial inclusion” said R. V. Verma, Chairman and Managing Director, National Housing Bank.
“This investment is a clear validation of the success of our business model which seeks to uplift rural communities through easier access to housing finance as well as improving social equity in a sustainable manner. This is aligned with the principle of Shared Value, which involves creating economic value while simultaneously building value for society by addressing its challenges,” said Ramesh Iyer, Chairman, Mahindra Rural Housing Finance Ltd.
Headquartered in Mumbai, MRHFL seeks to expand access to cost-effective and flexible home loans to a wide base of customers in rural India, ensuring that the basic need of shelter of this large ‘under banked’ customer base is met rapidly. MRHFL’s mission to ‘Transform Rural Lives’ is the guiding force for its employees and the company aspires to be the leader in the rural market by providing home loans to customers in rural and semi-urban India.
“Through our innovative business model, we have extended loans to more than 1,25,000 under banked rural customers thereby driving positive change in their lives. Our business exemplifies the Mahindra Group’s Rise philosophy which is based on the three pillars of Accepting No Limits. Alternative Thinking and Driving Positive Change.” said Anuj Mehra, Managing Director, Mahindra Rural Housing Finance Ltd.
About Mahindra Group
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.2 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. In 2013, the Mahindra Group received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category.
Visit us at www.mahindra.com
“The National Housing Bank, besides its supervisory role, also has a strong developmental role with respect to the housing finance industry. This investment reflects the bank’s focus on developing the housing finance industry by encouraging companies operating in niche areas, this Company which operates in the rural space has the potential for financial inclusion” said R. V. Verma, Chairman and Managing Director, National Housing Bank.
“This investment is a clear validation of the success of our business model which seeks to uplift rural communities through easier access to housing finance as well as improving social equity in a sustainable manner. This is aligned with the principle of Shared Value, which involves creating economic value while simultaneously building value for society by addressing its challenges,” said Ramesh Iyer, Chairman, Mahindra Rural Housing Finance Ltd.
Headquartered in Mumbai, MRHFL seeks to expand access to cost-effective and flexible home loans to a wide base of customers in rural India, ensuring that the basic need of shelter of this large ‘under banked’ customer base is met rapidly. MRHFL’s mission to ‘Transform Rural Lives’ is the guiding force for its employees and the company aspires to be the leader in the rural market by providing home loans to customers in rural and semi-urban India.
“Through our innovative business model, we have extended loans to more than 1,25,000 under banked rural customers thereby driving positive change in their lives. Our business exemplifies the Mahindra Group’s Rise philosophy which is based on the three pillars of Accepting No Limits. Alternative Thinking and Driving Positive Change.” said Anuj Mehra, Managing Director, Mahindra Rural Housing Finance Ltd.
About Mahindra Group
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.2 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. In 2013, the Mahindra Group received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category.
Visit us at www.mahindra.com
