PNB Housing Finance achieves Rs 1,000 cr loan book under Roshni segment

New Delhi: PNB Housing Finance on Wednesday said its affordable housing segment Roshni has achieved a Rs 1,000 crore loan book in less than a year of its launch.

This achievement represents the company's steadfast focus on financial inclusion by offering low ticket-size loans of Rs 5-35 lakh for home buying, plot purchases, construction and renovation, it added.

Roshni Home Loans offers loans to individuals, focusing on the salaried class and self-employed, along with new-to-credit applicants. It provides a customer-centric approach, characterised by tailored financial products, innovative technology and seamless experiences, to meet the unique needs of individuals seeking affordable housing finance solutions.

"There is a strong demand for affordable housing in the country, owing to the rapid rate of urbanisation, growing younger population, increasing per capita income and higher demand of housing units beyond the metro cities. We are aligned with the government's mission of housing for all and are committed to fulfilling the homeownership dreams of individuals from all walks of life," said Girish Kousgi, MD and CEO, PNB Housing Finance.

PNB Housing Finance recently inaugurated its 100th Roshni branch, also its first-ever all-women branch, cementing its position as a leader in the affordable housing category, the lender said in a release.

The company plans to strengthen its distribution network by opening 60 more branches in Tier 2 and 3 cities, taking the total number of Roshni branches to 160 by the end of the current fiscal.

The release further said that PNB Housing Finance also plans to expand its presence in the 'Prime' retail loans offering with 138 branches by 2023-24.

With this, the company is likely to have close to 300 branches to cater to the growing retail segment, including affordable and prime, by the end of the current financial year.