Key Decision
Board of Directors meeting held on Thursday, August 20, 2026 considered and granted in-principle approval for voluntary conversion of the Company from a Housing Finance Company (HFC) to a Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC).
Conditions and Approvals Required
The conversion is subject to obtaining requisite approval of the Reserve Bank of India (RBI) and other applicable approvals. The Board authorized management to take necessary steps and make requisite applications and submissions to the RBI, NHB (National Housing Bank), and other relevant authorities.
Rationale and Business Impact
The proposed conversion would enable the Company to diversify its product portfolio into permissible lending segments including:
- Home Loans
- Loan Against Property (LAP)
- Business Loans
- MSME Loans
This diversification is expected to provide opportunities for portfolio diversification and access to a larger addressable market.
Current Operational Status
Until all required approvals are received and the conversion is duly effected, the Company shall continue to operate and be governed as a Housing Finance Company.