Message from the Managing Director

Formalising Informal
Sector Housing Finance
with Respect, Rigor and Relationships.

India is amidst a unique and positive change. It is witnessing a public-private infrastructure thrust like never before, that will provide every urban Indian, especially from the low-income group (LIG) and economically weaker sections (EWS), a fair chance to home ownership. Envisioned by honourable Prime Minister, Shri Narendra Modi, ‘Housing for All by 2022’, under the Pradhan Mantri Awas Yojana (PMAY) is a near reality.

As per the ‘Housing for All’ scheme, the demand for 11 million affordable homes out of the total 19.6 million homes is in urban India. Housing finance is a key armour in bridging this ambitious yet noble goal. Estimates suggest that the affordable housing finance space is expected to grow to an INR 6 trillion opportunity by 2022. The challenge is how to reach housing finance to creditworthy yet marginalised Indians, majority of them being from the informal or unorganised sector.

The gap in providing housing finance for affordable homes in the lower segment of the informal economy is being addressed by players like us. Capri Global Home Loans is at the forefront of the movement to provide credit to the urban informal sector customers who are unserved and underserved due to ineligibility in the formal banking system.

India is a multi-cultural nation where it is said, every 100 kilometers, local traditions, culture and the way of living changes. Our ability to understand local nuances and build suitable credit lending and appraisal models relevant to each region is a key differentiator. We are working closely with local institutions like local governments, municipalities and other partners to customise affordable housing finance tailor to each need, customer and situation. This is creating an enabling ecosystem where a single home loan creates a multiplier effect for the local economy’s growth and makes a difference in the quality of life of customers.

In the next 60 months, our focus will be on three things:

Scaling up our branch network significantly so that more and more marginalised customers living on rent or in unorganised settlements in urban India, have access to our home loans.

An execution-led mindset where customer-centricity, speed and empathy are embedded in each employee, bringing in operational efficiency and reduced per customer acquisition costs.

Ensuring that our learning from customers is institutionalised in our centralised backend systems, making them more intelligent and intuitive to credit norms and creating a low-risk and efficient lending machine.

Capri Global Home Loans is part of this mammoth yet meaningful journey. We are implementing technology, transparency and trust-led credit practices. As a new-age HFC, we’re leveraging a built-for-scale, hub-and-spoke model with a pan-India approach as a key differentiator. With process-driven efficiency, agility and informal but deep consumer insights and localised credit solutions, we are well-positioned to benefit from the ensuing growth.

Globally, research has proven that home ownership is in the interest of the nation. At Capri Global Home Loans, we understand what a first home means to the owners – better health for the family, especially women and children, less dropouts and continuity in the child’s education, better community engagement leading to security, safety and pride of living. It is proven that home-owners as compared to renters show traits of more happiness, self-confidence and pride in their behaviour. Additionally, a home-owner leads to local community growth through micro-level demand generation and job creation.

At the end, our goal is to improve people’s lives with home loans that are as innovative as they are beneficial. We remain committed to actions that are in accord with the interests of society and sustainability. This is our larger purpose. Going forward, we envision Capri Global Home Loans to generate social capital beyond home financing products, services and profits.

Rajesh Sharma
Managing Director

Leadership

Rajesh Sharma Managing Director

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