Aashiyaan Housing and Development Finance Pvt. Ltd. aims to provide housing finance to those in the informal sector enabling the hither to un-served to own a home of their own. ‘Aashiyaan’ is a Persian word meaning ‘nest’ or ‘home’, and we at Aashiyaan aim to be the largest HFC (housing finance company) in the micro-housing sector in Eastern India by 2020, and the largest HFC in the micro-housing sector in the country by 2026.
Founded by Shubhankar Sengupta, founder of Arohan and widely acknowledged as an innovator and visionary leader in India’s microfinance sector, Aashiyaan is driven by the motto ‘Ghar Aapka, Saath Hamara’. In the coming years, we will focus primarily on low-income households with monthly incomes in the range of INR 15-35,000, starting with Eastern India, where the founder has extensive on-ground experience, and gradually expanding to a pan-Indian geography.
In the process, we aim to become the first HFC to go paperless, using technology as the anchor for operational excellence, a provision of multiple products and superior underwriting. We believe technology will create long-term efficiencies and contribute to both lowering operational costs and achieving high returns on assets (RoA).
Happily, a strong GDP growth, a rise in the working-age population, and rising per capita incomes will further strengthen the business potential of our venture.