Can Fin Homes Company Profile: Products, Promoters and Clients

Can Fin Homes Company Description

Can Fin Homes Limited, established in 1987 and promoted by Canara Bank, is India's first Housing Finance Company( HFC) promoted by a nationalized bank. Its primary end is to promote home power and increase casing stock, with 89 of its loan book devoted to casing and 11 tonon-housing loans. The company primarily serves low and middle- income individualities, first- time home buyers, and the salaried class, with growing exposure to the tone- employed member. 

Headquartered in Bengaluru, Can Fin Homes has 219 outlets, including 186 branches, across over 100 metropolises in 21 countries and Union homes, fastening on expanding its presence in Southern India and beyond.

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Q1. What are the Product and service offerings of Can Fin Homes?

The company offers a range of products and services. Under housing loans, it provides affordable housing loans, individual housing loans, composite loans, and top-up loans. For non-housing loans, the offerings include mortgage loans, site loans, loans for commercial properties, and loans against rent receivables. Additionally, the company offers deposit options, including fixed deposits and cumulative deposits.

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Q2.Who aret he Promoters/Management of Can Fin Homes?

Shri Suresh Srinivasan Iyer, Managing Director & CEO, holds an MBA in Finance and a B.Sc. in Statistics. Since joining Gruh Finance in 1997, he quickly became a key member of the core management team. With over 25 years of experience, he has excelled in various roles, including sales, operations, IT strategy, policy and pricing, risk management, recovery, and legal. His successful contributions across these functions have enabled him to rise through the ranks over the years.

Shri Apurav Agarwal, Chief Financial Officer, is a B.Com. graduate from Delhi University and a qualified Chartered Accountant. He previously worked with DMI Finance Private Limited as Head of F&A (NBFC), where he managed comprehensive financial operations. Additionally, he has experience with several reputed audit firms.

Shri K. Satyanarayana Raju, Non-Executive Chairman and MD & CEO of Canara Bank, holds degrees in Physics and Business Administration (Banking and Finance), and is a Certified Associate of the Indian Institute of Bankers. Starting with Vijaya Bank in 1988, he rose to Chief General Manager at Bank of Baroda post-merger, holding various leadership roles. He became MD & CEO of Canara Bank on February 2, 2023, after serving as Executive Director and overseeing key verticals.

Q3. Who are the Clients of Can Fin Homes?

For FY24, the assets under management (AUM) are predominantly in the housing sector, which accounts for 78%. Housing CRE represents 10%, while LAP and Mort and Others each constitute 5%, and Top UP loans make up 2%.

The loan portfolio is heavily concentrated in the South, holding 72%. The North and West regions account for 13% and 11% respectively, while the Central and East regions have minimal shares at 2% and 1%.

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                                                         Written by: Khush Kothari