Home First Finance Company India Ltd. Company History and Annual Growth Details

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 RoC.

Major events and milestones in relation to the Company :

2010

- Incorporation of the Company

- 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 the registered office to Mumbai

- Expanded operations in Gujarat and Tamil Nadu

2013

- Approved 1,000 loans, and Gross Loan Assets of the Company became Rs. 689.5 million

- CARE Credit Rating for long term bank facilities was BBB-

- Investment by Alpha TC Holdings Pte Limited in the Company

2014

- Company became profitable with Gross Loan Assets of Rs. 1,629.1 million

- 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

- Further investment by Bessemer in the Company and Alpha TC Holdings Pte Limited

- CARE Credit Rating for long term bank facilities improved to A

2017

- Investment by TN V LLP and Aether in the Company

- ICRA Credit Rating for long term bank facilities improved to A+ and CARE Credit Rating for long term bank facilities improved to A- 

- Gross Loan Assets became Rs. 8,473.2 million

- 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

- 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

- Approved over 55,000 housing loans

- Declassification of P. S. Jayakumar as the promoter of the Company

2020

- Investment by Orange Clove in the Company

- 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