Since PM Modi has announced Pradhan Mantri Awaas Yojna Scheme, many housing companies have made it their goal to provide houses at an affordable rate. The government ensures the plan of giving homes to all the citizens, whether they be middle-class, upper-class, or belong to low-income status backgrounds. We can see
India is progressing slowly towards a way of success since the government is ensuring proper housing facilities for all.
There are also changes in the sector level that need to be addressed. Another positive change is that AIFs are now allowed to purchase NPAs. This was previously restricted to ARCs only. With the AIFs entering this space, it brings some competition. This is likely to expand the market.
The pure housing market has changed a lot in these 3-5 months. Despite having COVID, the last three months have increasingly changed a lot for these houses. This will increase volume, and we will see more housing facilities in FY22 than in FY20. With such a robustly growing economy, we can see the trajectory going drastically upwards in both financial and operational.
If you look at our home loan book, we look at about 50-60% growth next year. Our numbers this year, except for three months of COVID, will be about 60% more than last year. Effectively, we will double our roles in FY22 compared to FY20. We are on a solid growth path, and we have made adequate arrangements, both financially and materially, to manage this growth effectively.
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In Tamil Nadu, Andhra Pradesh, Telangana, and Karnataka, we are dealing with low-cost housing in the Southern states. Shriram Group has a large consumer base on all various loan assets. Shriram is a powerful model in these countries, and we live in partnership with multiple group companies. A large part of our customer base has current relationships across the group, and at that level, credit points are assessed within our community. In the Western region, Maharashtra, Gujarat, and Rajasthan, we face a middle-income category. Over here, our focus is on building and developing the Shriram model.