The company was incorporated as ‘Home First Finance Company India Private Limited’ at Bengaluru, Karnataka as a private limited company under the Companies Act, 1956, pursuant to the certificate of incorporation dated February 3, 2010 issued by the Registrar of Companies, Karnataka at Bengaluru. Subsequently, the company was converted to a public limited company and consequently the name of the company was changed to ‘Home First Finance Company India Limited’ and a fresh certificate of incorporation dated March 14, 2018 was issued by the Registrar of Companies, Maharashtra at Mumbai (RoC). The company is a technology driven affordable housing finance company that targets first time home buyers in low and middle-income groups. It primarily offers customers housing loans for the purchase or construction of homes.

It has increased the scale of its operations and grown its branches by adopting a strategy of contiguous expansion across regions and have strategically expanded to geographies where there is substantial demand for housing finance. The company utilizes a diverse range of lead sourcing channels such as connectors, architects, contractors, affordable housing developers, in addition to conducting loan camps and micro marketing activities, and utilizing employee and customer referrals and branch walk-in customers.

Business area of the company

The company primarily caters to the low and middle income groups by offering them housing loans to construct and buy homes. It further offers other loans like loans against property, developer finance loans, and loans to buy commercial property.

Products

• Home Loans for Salaried Professionals
• Home Loans for the Self Employed
• Home Construction Loans
• Home Extension & Renovation Loan
• Loan Against Property
• Home Loans for NRIs
• Home Loans for Senior Citizens
• Home Loan Balance Transfer
• Home Loan Top Up
• Shop Loans
• Loans for purchase of Commercial Property

Major events and milestones

• 2010: Incorporation of the company
• 2010: Obtained certificate of registration from NHB with Jaithirth Rao and P. S. Jayakumar as the promoters of the company
• 2011: Investment by Bessemer in the company
• 2012: Change of its registered office to Mumbai
• 2012: Expanded operations in Gujarat and Tamil Nadu
• 2013: Approved 1,000 loans, and Gross Loan Assets of the company became Rs 689.5 million
• 2013: CARE Credit Rating for long term bank facilities was BBB-
• 2013: Investment by Alpha TC Holdings Pte Limited in the company
• 2014: Company became profitable with Gross Loan Assets of Rs 1,629.1 million
• 2014: CARE Credit Rating for long term bank facilities improved to BBB+
• 2015: Company had customer base of 5,000 with Gross Loan Assets of Rs 3,368.3 million
• 2016: Customer base crossed over 10,000 spread across over 25 cities and Gross Loan Assets of the company touched Rs 5,477.4 million
• 2016: Further investment by Bessemer in the company and Alpha TC Holdings Pte Limited
• 2016: CARE Credit Rating for long term bank facilities improved to A
• 2017: Investment by TN V LLP and Aether in the company
• 2017: ICRA Credit Rating for long term bank facilities improved to A+ and CARE Credit Rating for long term bank facilities improved to A
• 2017: Gross Loan Assets became Rs 8,473.2 million
• 2017: Exit of Alpha TC Holdings Pte Limited
• 2018: Net worth of the company crossed Rs 5,000 million and Gross Loan Assets became Rs 13,559.3 million
• 2018: Declassification of Jaithirth Rao as the promoter of the company
• 2019: Customer base crossed over 30,000 with Gross Loan Assets touching Rs 24,435.7 million
• 2019: Approved over 55,000 housing loans
• 2019: Declassification of P. S. Jayakumar as the promoter of the company
• 2020: Investment by Orange Clove in the company
• 2020: The company was certified as a “Great Place to Work” by Great Place to Work Institute, India for a period from November, 2020 to October, 2021