Kifs Housing Finance

KIFS Housing Finance has been incorporated on November 16, 2015 with the main object of providing housing loans. The Company has got itself registered with National Housing Bank for carrying out objectives of advancing housing loans. The company is registered in Ahmedabad, Gujarat and has its corporate office in Mumbai. KIFS Housing Finance is governed by a professional board, headed by Mr. Padmanabh Pundrikray Voraas the Chairman, Mr. Swarnpal Singh Bais as the Director and Chief Executive Officer, Mr. Rajesh P. Khandwala and Mr. Vimal P. Khandwala being its promoter Directors. Other Directors to the KIFS Housing Finance Limited include Mr. Kartik Shailesh Mehta and Mrs. Purvi Bhavsar. Considering the enormous opportunity in housing for the MIG and LIG segment in India. The company has forayed in to providing retail housing loans to the Low and Middle Income segment across India. The geographies targeted are periphery of Tier1 and 2 and Tier 3,4,5 towns. The company will be operation through branches with a HUB and SPOKE model in these towns. During the 1st year, the company is opening up 21 branches in 4 states of Maharashtra, Gujarat, Madhya Pradesh and Rajasthan. It plans to disburse 100 crores to around 1000 customers in the first year. The company has developed robust policy and process and a strong proprietory housing finance software as a backbone the support the business operations. So as to enable ease of business and fast turnaround time that is a key parameter for success in this competitive market, the company operates through a decentralized process. The branch and regional level team is empowered with business decisions within the framework of Policy and Process defined and approved by the board. This is done along with strong oversight by the central team and audit committee for ensuring smooth function, control and compliance.