Shalibhadra Finance Expands into Small-Ticket Housing Finance

On July 1, 2024, Shalibhadra Finance Limited announced via a stock exchange filing the expansion of its product portfolio to include small-ticket housing finance.

Shalibhadra Finance has been financing two-wheelers in rural areas for over two decades. With a strong network of over 50 branches across Maharashtra, Gujarat, Rajasthan and Madhya Pradesh, the company has built strong relationships with hundreds of thousands of rural customers. This extensive network and established presence uniquely position Shalibhadra Finance to succeed in the newly launched housing finance segment.

By leveraging its solid foundation and trusted relationships in these regions, Shalibhadra Finance aims to significantly impact the housing finance market by providing accessible and affordable housing solutions.

Following the formation of the new government, Prime Minister Narendra Modi has unveiled an ambitious plan under the Pradhan Mantri Awas Yojana to construct 3 crore new houses in villages and cities.

This initiative aims to offer affordable housing solutions to the economically weaker sections and lower-income groups across India, reflecting a commitment to improving living conditions for all. This move aligns with the government’s vision of housing for all and underscores Shalibhadra Finance’s commitment to fostering financial inclusion and enhancing the quality of life for rural communities.

Sharing his thoughts on this significant development, the Managing Director of Shalibhadra Finance, Minesh Doshi, said, “We are excited to announce the expansion of our product portfolio to include small ticket size housing finance. This strategic addition aligns perfectly with our mission to enhance financial inclusion and support the government’s vision of housing for all.”

He further added, “By leveraging our extensive network and deep-rooted relationships in rural areas, Shalibhadra Finance is well-equipped to provide accessible and affordable housing solutions. We are committed to empowering economically weaker sections and lower income groups, thereby contributing to the socio-economic development of rural communities across Gujarat, Maharashtra, Madhya Pradesh, and Rajasthan.”

About Shalibhadra Finance Ltd

Shalibhadra Finance Ltd is a Non-Banking Financial Company (NBFC) that serves rural, semi-urban, and other under-banked areas in Gujarat, Maharashtra, and Madhya Pradesh. With a network of over 44 branches, they provide a wide range of customised retail products, including financing for new and used two-wheelers, auto rickshaws, and four-wheelers.

On July 2, 2024, the share price of Shalibhadra Finance Ltd opened at ₹649.95, touching the day’s high at ₹649.95, as of 9:35 AM on the BSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.