Buy Sell Motilal Oswal Home Finance (Aspire Home Finance) Unlisted Shares

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Motilal Oswal Home FinanceMotilal Oswal Home Finance Limited (MOHFL) is a professionally managed housing finance company with unique combination of financially sound and technically experienced promoters who are well known in their domain for professional ethics and strong execution capabilities. The company offers loans for home, construction, composite, improvement, and extension.

MOHF is a subsidiary of Motilal Oswal Financial Services Limited (MOFSL). MOFSL is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail.

Motilal Oswal Home Finance Limited (Previously Aspire Home Finance Corporation Limited) Unlisted Shares Details:

Total Available Shares: Available
Face Value: Rs 1 Per Equity Share
ISIN: INE658R01011
Lot Size: 1000 Shares
Current Unlisted Share Price: Rs 7.50-8 per equity share (Best rate in industry)
Sector Housing Finance (NBFC)

Key Management

Motilal Oswal – Chairman
Raamdeo Agrawal – Director
Navin Agarwal – Director
Vijay Kumar Goel – Chief Executive Officer
Smita Gune – Independent Director
Sanjaya Kulkarni – Independent Director
Rekha Shah – Independent Director

Business Highlights

  • Cumulative disbursement as on 30th September 2019 – Rs 6369 crore with 9.19 lakh average ticket size
  • Provided financial assistance to over 69,000 customers
  • Operates out of 113 locations in Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Karnataka, Rajasthan, Tamil Nadu, Chhattisgarh and Telangana
  • CRISIL has upgraded MOHFL’s rating to AA- (stable outlook) from earlier A+ (stable)
    Awarded Second prize for Best Performing Primary Lending Institution under CLSS for EWS/LIG by Ministry of Housing and Urban Poverty Alleviation at National Workshop on Urban Transformation.

Aspire Home Finance name changed to Motilal Oswal Home Finance in May 2019. MOHF is registered with National Housing Bank (NHB) under section 29A of the National Housing Bank Act, 1987 as a HFC under section 29A of the National Housing Bank Act, 1987 vide Certificate of Registration No. 05.0111.14 dated May 19, 2014. MOHFL commenced lending operations in May 2014.

MOHFL’s operations are focused on Tier II and Tier III cities or the extended suburbs of metro locations. The portfolio is mostly concentrated in Maharashtra and Gujarat with these two states together accounting for 83% of the overall portfolio as on March 31, 2019. Within Maharashtra, MOHFL has been establishing its presence in cities close to Mumbai and Pune. It has also been increasing its presence in Madhya Pradesh, Tamil Nadu, Karnataka and Rajasthan among other states.

The company has a network of 113 branches, primarily in Maharashtra, Gujarat and Madhya Pradesh. It mainly caters to
the lower and middle-income borrower segment for the purchase of affordable residential units with a maximum ticket
size of Rs. 25 lakh. It has a presence largely in Tier II and Tier III locations or the extended suburbs of metro locations.

MOHFL’s portfolio is an even mix of financing to both salaried (~52%) and self-employed (~48%) customers. The focus on the housing finance segment will continue over the near to medium term with no immediate plans of foraying into other asset classes like loans against property (LAP), lease rental discounting (LRD) or builder loans.

Recent Developments

Motilal Oswal Home Finance signs deal with Phoenix ARC – September 2019

Motilal Oswal Home Finance Limited (MOHFL) has entered into an Assignment Agreement dated 30 September 2019 with Phoenix ARC Private Limited, for upfront sale of pool of Non-Performing Assets (NPAs) of the Company. Pursuant to the said agreement, MOHFL has sold pool of NPAs of Rs. 540 crores (having Net Outstanding book value of Rs. 345 crores) and realised cash consideration of Rs. 260 crores from Phoenix ARC Trust.

Phoenix ARC Private Ltd along with Motilal Oswal Finvest Ltd,has invested in security receipts of the Phoenix ARC Trust. Further, this has resulted in significant reduction of the Gross NPA (GNPA) & Net NPA (NNPA) ratios of MOHFL to 1.95% and 1.51% respectively.

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