Home First Finance

Last updated

Home First Finance
Company type Public
ISIN INE481N01025
Industry Financial services
Founded2010
Founders
Headquarters
Mumbai, Maharashtra
,
India
Number of locations
155 branches and 361 touchpoints (2025) [1]
Area served
India
Key people
  • Manoj Viswanathan (Managing Director & CEO)
  • Ajay Khetan (Deputy CEO) [2]
Products
RevenueIncrease2.svg₹1,539 crore (FY 2024–25) [1]
Increase2.svg₹382 crore (FY 2024–25) [1]
AUM Increase2.svg₹12,713 crore (FY 2024–25) [1]
Number of employees
1,634 (March 2025) [1]
RatingInd-Ra AA− (Positive) [3]
Website homefirstindia.com

Home First Finance Company India Limited is an Indian housing finance company in the affordable housing segment based in Mumbai and founded in 2010. It provides home loans, mortgage loans and home construction loans. [4] [5] Its equity shares are listed on Bombay Stock Exchange and National Stock Exchange. [6]

Contents

History

Home First Finance was founded in 2010 by former chairman and co-founder of Mphasis, Jerry Rao; former CEO and MD of Bank of Baroda, PS Jayakumar; and Manoj Viswanathan, who previously worked with Citigroup India. [7] [8] It commenced operations in August 2010 after registering with the National Housing Bank, the regulatory and licensing body for housing finance companies in India. [9] In 2011, Bessemer Venture Partners bought a minority stake in the company for an undisclosed sum. [10]

In 2013, Tata Capital Growth Fund picked up a minority stake in the company. [11] Home First Finance turned profitable in 2014. [12]

In February 2017, private equity firm True North acquired a majority stake in Home First Finance for over ₹600 crore. A co-investor in this round, Aether (Mauritius) Limited, an affiliate of the Singaporean sovereign wealth fund GIC, also became part of the company's promoter group with True North. [11] [13]

In October 2020, Warburg Pincus acquired a 25% stake in Home First Finance for ₹700 crore. [14] In January 2021, Warburg Pincus increased its stake to 30.62% ahead of Home First Finance's initial public offering. [15]

In January 2021, Home First Finance launched its initial public offering (IPO) of ₹1,154 crore; [16] the IPO was subscribed over 26 times. Equity shares of the company began trading on Bombay Stock Exchange and National Stock Exchange on 3 February 2021. [6]

In December 2021, Union Bank of India (UBI) and Home First Finance entered into a strategic co-lending partnership. [17] Home First Finance signed a similar partnership with Central Bank of India in September 2022. [18]

In December 2022, Home First Finance raised ₹280 crore from International Finance Corporation to provide financing for green affordable housing customers. [19]

In May 2024, the company's assets under management crossed ₹10,000 crore. [20]

In April 2025, Home First Finance raised ₹1,250 crore through a qualified institutional placement (QIP), which saw participation from investors including International Finance Corporation, Capital World, Fidelity Funds and HDFC Mutual Fund. [21]

Finances

Year [22] Revenue
(in ₹ crore)		Net profit
(in ₹ crore)		 AUM
(in ₹ crore)
FY 2017–18146251,356
FY 2018–19271452,444
FY 2019–20419803,618
FY 2020–214891004,141
FY 2021–225951865,380
FY 2022–237962287,198
FY 2023–241,1573069,698
FY 2024–251,53938212,713

ESG

Home First Finance has been rated in the category of "low risk" by Morningstar's Sustainalytics with a score of 16.2. [23]

The company's corporate social responsibility project, titled Project Sashakt, is focused on the upliftment of migrant worker communities in Ahmedabad. [24]

References

  1. 1 2 3 4 5 "Annual Report 2024-25" (PDF). Home First Finance Company India Ltd. Retrieved 26 June 2025.
  2. ↑ "Home First Finance: A CredITable trailblazer – the FIRST among equals" (PDF). Motilal Oswal. Retrieved 28 September 2022.
  3. ↑ "Home First Finance Company India Limited". India Ratings and Research. Fitch Ratings. Retrieved 26 June 2025.
  4. ↑ "Home First Finance Company India Ltd" (PDF). Edelweiss Research. Retrieved 27 September 2022.
  5. ↑ "Home First Finance" (PDF). ICICIdirect. Retrieved 27 September 2022.
  6. 1 2 "Home First Finance debuts at 19% premium over issue price". The Economic Times. Retrieved 27 September 2022.
  7. ↑ Nandy, Madhurima (1 February 2013). "Jaithirth Rao | The late homebody". mint. Retrieved 27 September 2022.
  8. ↑ "Warburg 'looking to exit' from Home First Finance". Business Line. The Hindu. Retrieved 28 September 2022.
  9. ↑ "National Housing Bank - Annual Report 2010-2011" (PDF). nhb.org.in. Retrieved 27 September 2022.
  10. ↑ Nandy, Madhurima; Unnikrishnan, Dinesh (9 June 2011). "US-based Bessemer buys stake in affordable housing finance start-up". mint. Retrieved 27 September 2022.
  11. 1 2 "True North to invest $100 mn in Home First Finance". VCCircle. Retrieved 27 September 2022.
  12. ↑ Sinha, Shilpy. "Home First Finance Company is looking to sell 30% stake for Rs 250 crore to fund operations". The Economic Times. Retrieved 27 September 2022.
  13. ↑ Kumar, Arun. "Private equity firm True North looks to buy major stake in Home First Finance Company for Rs 600 crore". The Economic Times. Retrieved 27 September 2022.
  14. ↑ "Warburg Pincus invests Rs 700 cr to acquire stake in Home First Finance". Business Standard. 2 October 2020. Retrieved 27 September 2022.
  15. ↑ "Warburg Pincus ups stake in Home First Finance ahead of Rs 1,000-cr IPO". Financial Express. Retrieved 27 September 2022.
  16. ↑ "Home First Finance Company IPO subscribed 27 times, QIB portion booked 52 times on final day". Moneycontrol. Retrieved 27 September 2022.
  17. ↑ "Union Bank partners with Home First Finance to offer home loans: Check benefits". 17 December 2021.
  18. ↑ "Central Bank of India signs co-lending partnership with HFFC". Business Standard. Retrieved 8 August 2024.
  19. ↑ Anand, Saurav (24 December 2022). "Home First Finance raises ₹280 crore from IFC". mint. Retrieved 8 June 2023.
  20. ↑ "HomeFirst achieves ₹10000 Crore AUM" (PDF). Home First Finance Company India Ltd. Retrieved 8 August 2024.
  21. ↑ Kumar, Chitranjan (14 April 2025). "HomeFirst Finance raises ₹1,250 cr via QIP; IFC, Fidelity Funds, HDFC MF, among investors". Fortune India. Retrieved 26 June 2025.
  22. ↑ "Integrated Annual Report 2022-23" (PDF). BSE. Retrieved 8 June 2023.
  23. ↑ "HOMEFIRST - Home First Finance Co India Ltd Ordinary Shares Sustainability - XNSE". Morningstar, Inc. 6 June 2023. Retrieved 8 June 2023.
  24. ↑ "Home First Investor Presentation Q4 FY24" (PDF). Home First Finance Company India Ltd. Retrieved 8 August 2024.
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