Edelweiss Housing aims for Rs 1,500-crore business this fiscal

Edelweiss Housing aims for Rs 1,500-crore business this fiscal Mumbai: Edelweiss Housing Finance, the housing finance arm of the Edelweiss Group, is planning to attain a total business of Rs 1,500 crore this fiscal.

The company is also eyeing to raise money through securitisation deal this fiscal and will also get itself rated from credit rating agencies, a top company official said.

"In the housing finance space, we aim to close the current financial year at Rs 1,500 crore," Edelweiss Housing Finance executive vice-president Anil Kothuri told PTI, adding the company had a loanbook of Rs 850 crore by FY11.

The company was also aiming another Rs 500 crore of disbursements in the SME space this fiscal.

About overall growth of the housing finance industry, Kothuri said it was expected to be around 18 per cent in FY13, which is same as the last fiscal.

Edelweiss Housing Finance will also look into raising money through securitisation deals in this fiscal, he said.

"This year, we will look at reducing our cost of funds, which was around 11 per cent by FY12," he said.

The company is also planning to close some securitisation deals in this fiscal, Kothuri said, adding the housing finance entity would be rated in the current fiscal, a move that will help it in raising money.

"Till date, we are raising money through our parent entity. However, we have started discussions with banks to raise capital on our own and are hopeful of closing some deals in the next quarter," he said.

Edelweiss Housing Finance also doesn't see any stress on its asset quality.

PTI