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Home First Finance
Home First Finance
Home First Finance
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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]

Key Information

History

[edit]

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] and Axis Bank in 2025.[19]

In December 2022, Home First Finance raised ₹280 crore from International Finance Corporation to provide financing for green affordable housing customers.[20]

In May 2024, the company's assets under management crossed ₹10,000 crore.[21]

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.[22]

Finances

[edit]
Year[23] Revenue
(in ₹ crore) 		Net profit
(in ₹ crore) 		AUM
(in ₹ crore)
FY 2017–18 146 25 1,356
FY 2018–19 271 46 2,444
FY 2019–20 419 80 3,618
FY 2020–21 489 100 4,141
FY 2021–22 586 186 5,380
FY 2022–23 796 228 7,198
FY 2023–24 1,157 306 9,698
FY 2024–25 1,539 382 12,713

ESG

[edit]

Home First Finance has been rated in the category of "low risk" by Morningstar's Sustainalytics with a score of 17.4.[24] It has an S&P Global ESG score of 46.[25]

The company's corporate social responsibility project, titled Project Sashakt, is focused on the upliftment of migrant worker communities in Ahmedabad.[19]

References

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Home First Finance

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from Grokipedia
Home First Finance Company India Limited is an Indian housing finance company headquartered in , specializing in loans for low- and middle-income segments, particularly first-time homebuyers in underserved markets. Founded in 2010 by Jaithirth Rao, P. S. Jayakumar, and Manoj Viswanathan, the company is registered with the (NHB) and operates as a technology-driven lender to promote homeownership across . The company's mission is to be the fastest provider of home finance for the aspiring , delivered with ease and transparency. It offers a diverse portfolio of financial products, including home loans for purchase or , self-construction loans, loans, loans, and shop loans, with approvals often processed within 48 hours. Home First emphasizes digital processes and customer-centric services to serve 117,989 customers as of March 2025, having disbursed over INR 30,000 in loans since inception. As a publicly listed entity on the (NSE: HOMEFIRST) since its 2020 , Home First has demonstrated consistent growth, with reaching ₹12,713 as of March 2025 and strong profitability in recent fiscal years. The company maintains a focus on sustainable practices, including environmental, social, and governance (ESG) initiatives, to support its role in India's ecosystem.

Company Overview

Background and Focus

Home First Finance Company India Limited was established in and is headquartered in , . The company operates as a specialized housing finance provider, initially incorporated as a private limited entity in Bengaluru before shifting its base to to serve the broader market. The company's primary focus is on delivering housing finance solutions to first-time home buyers from low- and middle-income groups, particularly targeting the Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG) segments. These underserved populations often face barriers to homeownership due to limited access to traditional financing, and Home First addresses this by prioritizing loans that enable property acquisition in semi-urban and rural areas. Home First is registered with the (NHB) as a company, ensuring compliance with regulatory standards for the sector. It emphasizes a technology-driven approach to streamline operations, including paperless processing to reduce turnaround times and enhance accessibility for its customer base. This model has positioned the company as a key player in India's ecosystem, supporting national initiatives for inclusive without venturing into high-end segments.

Mission and Business Model

Home First Finance Company India Limited's mission is to be the fastest provider of home finance for the aspiring in , delivered with ease and transparency, thereby enabling homeownership for underserved populations through accessible and efficient financing solutions. The company emphasizes by targeting low- and middle-income groups, particularly first-time homebuyers in semi-urban and rural markets, aligning its efforts with government initiatives like the (PMAY) to support for economically weaker sections. The business model adopts a digital-first, direct-to-customer approach, focusing on in-house and technology-driven processes to disburse without relying on traditional intermediaries, which enhances cost and . This framework prioritizes semi-urban and rural geographies across Tier 1 to Tier 5 cities, leveraging a network of digital and physical touchpoints to reach underserved borrowers who often lack access to conventional banking services. Key differentiators include an app-based digital experience for applications and management, with over 90% of loans approved within 48 hours through streamlined, data-driven assessments. Revenue is primarily generated from interest income on housing loans, which constitute the majority of the company's portfolio, supported by a focus on maintaining low non-performing assets (NPAs) at around 1.9% as of September 2025 through rigorous credit evaluation and consistent underwriting practices. This asset quality is bolstered by integrated systems and detailed borrower profiling, ensuring sustainable growth in finance. In April 2025, the company raised ₹1,250 through a Qualified Institutional Placement to support expansion.

History

Founding and Early Development

Home First Finance Company India Limited was founded in 2010 by Jaithirth (Jerry) Rao, P. S. Jayakumar, and Manoj Viswanathan to address the significant gaps in finance for low- and middle-income families in , particularly first-time homebuyers who were underserved by traditional lenders. The company was incorporated as a private limited entity on February 3, 2010, in Bengaluru, , with an initial seed capital of ₹100,000 through the issuance of 10,000 equity shares at ₹10 each, subscribed by the founders and initial directors including Sunil Narayan. Rao, a veteran in IT and finance with prior roles at and , along with Jayakumar, formerly head of consumer banking at , and Viswanathan, with experience at , aimed to leverage their expertise in building a technology-enabled model for rapid and reliable loan disbursals in underserved markets. Operations commenced in August 2010, initially focusing on small-scale lending in urbanized areas of southern , with an emphasis on pilot-like initiatives to test and refine processes in Tier-2 and Tier-3 cities where housing demand was high but formal access was limited. The early phase prioritized housing loans, which constituted the core of its portfolio, alongside limited offerings for and , targeting economically active but credit-constrained borrowers. By 2012, the company expanded its footprint to states like and , building a foundation through localized sourcing and basic digital tools for customer verification to ensure scalability. This pre-profitability period, marked by modest disbursals and operational bootstrapping, allowed the firm to iterate on its business model amid regulatory oversight from the . In January 2011, the company secured its first external investment from , acquiring a minority stake for an undisclosed amount to fuel initial growth and operational expansion. This was followed in 2013 by a Series B round from Alpha TC Holdings Pte Ltd, the private equity arm of Tata Capital Growth Fund, which invested approximately ₹470 million for another minority stake, providing critical capital to strengthen capabilities and regional presence. By 2014, these funds enabled Home First to achieve profitability for the first time, with gross loan assets reaching ₹1,629.1 million, supported by an early emphasis on developing proprietary machine learning-based customer scoring models for centralized to improve assessment accuracy and processing speed.

Investments and Expansion

In 2017, True North, along with Singapore's GIC through its affiliate Aether (Mauritius) Limited, acquired a majority stake in Home First Finance for approximately ₹600 via a combination of primary equity infusion and secondary transactions. This investment provided the capital needed to scale operations, enabling the company to expand its branch network from around 20 to over 50 locations by the end of the , while strengthening its focus on loans in underserved urban and semi-urban markets. Between 2018 and 2019, Home First Finance experienced significant operational growth, with loan disbursals surging 111% from ₹745 in FY18 to ₹1,573 in FY19, driven by increased demand for housing finance in emerging markets. The company expanded its geographical footprint to 11 states and one , notably entering and scaling operations in and , where it established multiple branches and captured substantial market share—Gujarat alone accounted for about 40% of gross loan assets by FY19. This period also saw a strategic emphasis on self-construction loans, which formed the bulk of its housing portfolio (over 90% of ), catering to first-time buyers in the economically weaker sections with tailored financing for incremental home building. In 2020, invested ₹700 crore to acquire a 25% stake through primary and secondary share sales, bolstering the company's amid economic uncertainties. As the disrupted operations, Home First Finance adapted by accelerating digital processes, including electronic collections (achieving 98% in April 2020) and for employees, while maintaining 80% branch functionality by mid-year through interim credit guidelines. These measures supported resilient performance, with growing from ₹1,356 crore in FY18 to ₹3,014 crore in FY20, reflecting sustained scaling in loan origination despite lockdowns.

IPO and Recent Milestones

Home First Finance Company India Limited went public in January 2021 through an (IPO) on the National Stock Exchange (NSE) and (BSE), raising ₹1,154 crore at a price band of ₹517-518 per equity share. The IPO was oversubscribed 26.66 times overall, with strong demand from qualified institutional buyers at 52.53 times and non-institutional investors at 39 times, reflecting robust investor confidence in the company's finance model. Following the allotment on January 28, 2021, and listing on February 3, 2021, Home First transitioned to operating as a publicly listed entity, enhancing its access to capital markets for sustained growth. In December 2021, the company entered its first major co-lending with , aligning with the Reserve Bank of India's co-lending guidelines to originate and disburse home loans to underserved customers at competitive rates. This was followed in September 2022 by a similar strategic tie-up with , enabling expanded lending in segments through shared credit policies and risk distribution. That same year, in December, Home First secured ₹280 crore in debt financing from the (IFC), a member of the , specifically earmarked for green initiatives to support eco-friendly homeownership among low- and middle-income buyers. During fiscal year 2025, Home First forged a co-lending with , marking its first collaboration with a to further enhance loan origination for . By May 2024, Home First's (AUM) surpassed the ₹10,000 crore milestone, driven by consistent disbursement growth and penetration into tier-2 and tier-3 markets, underscoring its scaling operations in the housing finance sector. During fiscal 2025, the company expanded its physical network by adding 22 branches and 18 touchpoints, reaching a total of 155 branches across 13 states and 141 districts to deepen outreach in underserved regions. In April 2025, Home First strengthened its funding base with a Qualified Institutional Placement (QIP), raising ₹1,250 crore by issuing approximately 1.28 equity shares at ₹970 each to qualified institutional buyers, bolstering its to around ₹3,750 crore. As of September 2025, the company's AUM reached ₹13,479 , reflecting 26.3% year-over-year growth, with profit after tax increasing 43% to ₹130 in the second quarter of fiscal 2026.

Operations

Network and Reach

Home First Finance Company India Limited maintains a widespread physical network tailored to its focus on affordable housing in underserved areas. As of September 2025, the company operates 163 branches and 366 touchpoints across 13 states and union territories in , with a primary emphasis on semi-urban and rural regions to reach economically weaker sections. The company's workforce comprises 1,723 employees as of September 30, 2025, with a significant allocation to field sales and credit underwriting teams to support on-ground operations and in remote locations. Geographically, Home First has established a strong foothold in western and southern states such as , , , , , and , which account for the majority of its portfolio, while pursuing measured expansion into northern and eastern regions to broaden market coverage. Home First's network serves a customer base exceeding 100,000 loans disbursed, primarily targeting the (EWS) and Low-Income Group (LIG) segments eligible under the (PMAY) scheme, where EWS and LIG borrowers represent approximately 61% of its assets under management. Digital tools complement this physical infrastructure by enabling remote monitoring and application support, enhancing accessibility without replacing branch-based interactions.

Technology and Processes

Home First Finance Company Limited operates a technology-driven platform that facilitates efficient processing and . The company's includes the HomeFirst Customer App, which provides customers with a comprehensive 360-degree view of their accounts, enabling real-time tracking of applications, EMI payments through multiple modes such as UPI and net banking, and access to statements and service requests. This app supports paperless documentation via e-KYC processes, utilizing Aadhaar-based digital verification for identity and address , with 82% of agreements e-signed in Q4 FY25. Additionally, the app integrates with cloud-based CRM and management systems, incorporating tools like Kaisys for and communication, enhancing operational scalability across the company's network. As of Q2 FY26, digital fulfillment reached 80%, with 83% of new approvals using Account Aggregator penetration. The process at Home First is centralized and leverages in-house AI and models for credit scoring, evaluating over 100 data points including information, income assessments, and details via integrations with third-party providers like Perfios. These proprietary ML models enable rapid decision-making, with 90% of loans approved within 48 hours, significantly reducing turnaround times compared to traditional methods. The process also incorporates geo-tagging for valuation and to ensure accurate loan-to-value ratios, maintaining consistency in credit assessments for underserved borrowers. Risk management is handled entirely in-house, with dedicated teams overseeing collections and monitoring through integrated digital tools that provide real-time installment tracking and automated reminders via and calls. The company maintains a low gross NPA ratio of 1.9% as of September 2025, supported by data analytics platforms like Tableau for visualization and early warning systems that predict payment bounces using historical data. Collection efficiency reached 97.6% in Q4 FY25, bolstered by 96% non-cash collections facilitated by the digital platform. Operational efficiency is enhanced through integrations with national registries such as GSTN for income verification and CERSAI for checks, streamlining compliance and detection during . The company invests in staff development with over 2,200 man-hours of in Q4 FY25, focusing on adoption and process optimization to support field operations. These initiatives contribute to an opex-to-assets ratio of 2.7% in FY25, reflecting the impact of digital tools on cost control and process automation.

Products and Services

Loan Offerings

Home First Finance offers core loan products focused on , including for property purchase, self-construction for building homes on owned land, and for renovations and extensions. These products cater primarily to first-time buyers in underserved segments, with loan amounts up to 90% of the property value, typically ranging from ₹2 to ₹50 or more, aligned with needs. Eligibility criteria target salaried and self-employed individuals in the (EWS, annual income up to ₹3 ), Low-Income Group (LIG, ₹3-6 ), and Middle-Income Group (MIG, ₹6-18 annually, with subcategories MIG-I up to ₹12 and MIG-II ₹12-18 ), as per classifications. Repayment tenures are flexible, extending up to 25 years to ensure affordable equated monthly installments, while indicative interest rates range from 8% to 14% per annum (as of November 2025), varying by borrower profile, , and location. Key special features enhance accessibility, such as seamless integration with the (PMAY) 2.0 for interest subsidies up to ₹2.67 lakh on eligible loans, and targeted incentives for women borrowers including lower processing fees, priority approvals, and enhanced subsidy eligibility when women are primary or co-applicants. No prepayment penalties apply to floating-rate loans for individual borrowers, promoting early repayment without additional costs. The loan portfolio mix reflects a strong emphasis on housing finance, with approximately 84% dedicated to home loans (as of March 2025), while incorporating green housing options that support energy-efficient constructions through specialized funding and certifications for sustainable features like solar integration and .

Application and Approval

The application process for Home First Finance loans can be initiated online through the company's customer portal or mobile app, or in-person at one of their branches across India. Applicants are required to provide basic documentation, including identity proofs such as Aadhaar and PAN cards, address verification, income proofs like salary slips or Income Tax Returns (ITR), and property-related documents where applicable. This streamlined approach emphasizes accessibility, allowing customers to upload digital copies and complete the form with personal, financial, and property details in a few minutes. Following submission, the approval process is designed for efficiency, with an end-to-end timeline of up to 48 hours for initial sanction after document verification. For construction loans, this includes a site visit by a representative to assess the and workplace, along with a inquiry to ensure compliance. The sanction letter, issued upon approval, outlines the loan amount, , tenure, and repayment schedule, enabling quick progression to the next steps. Disbursement occurs digitally via direct bank transfer to the applicant's account or the vendor's, typically within 7-15 days post-approval, subject to final legal and technical clearances. For self-construction loans, funds are released in phases aligned with construction milestones, verified through progress inspections to support incremental building needs without overburdening the borrower. This phased method ensures responsible fund utilization and aligns with the company's focus on . Customer support throughout the journey is provided by dedicated relationship managers assigned to each applicant, who assist with queries, documentation, and coordination from application to closure. Additionally, grievance redressal is facilitated through the company's internal channels, with unresolved issues escalated to the National Housing Bank's (NHB) Grievance Registration & Information Database System (GRIDS) portal for impartial resolution within 30 days.

Leadership and Governance

Founders and Executives

Home First Finance Company India Limited was co-founded in 2010 by Jaithirth "Jerry" Rao, P. S. Jayakumar, and Manoj Viswanathan, all with extensive backgrounds in banking and finance. Jerry Rao, a visionary entrepreneur and former chairman of as well as a executive, brought expertise in and a strong emphasis on promoting for underserved segments, particularly first-time homebuyers from low- and middle-income groups. P. S. Jayakumar, who previously served as CEO and Managing Director of and head of 's consumer banking in India, contributed operational acumen in scaling retail lending and housing finance initiatives. Manoj Viswanathan, who holds a in electrical and electronics engineering from and an MBA from XLRI , has been the Managing Director and CEO since the company's inception, leveraging his prior experience in to drive strategic growth. Under Viswanathan's leadership, Home First has advanced its , integrating for end-to-end loan processing, personalization, and resilience during disruptions like the lockdown through cloud-based operations. His tenure has focused on enhancing accessibility and efficiency in housing finance delivery. In fiscal year 2025, Viswanathan's total compensation was ₹28.1 million. Among the current top executives, Ajay Khetan serves as Deputy CEO and , overseeing business development and operations with a background in . Anuj Srivastava acts as an Independent Non-Executive Director, bringing insights from his role as co-founder and CEO of , a home interiors platform, complemented by his in materials . Ashishkumar Darji is the , managing and operational risks with expertise in housing finance compliance and assessment. These leaders, alongside the founders, maintain deep-rooted tenures in the banking sector, emphasizing inclusive lending practices and .

Board Structure

The Board of Directors of Home First Finance Company India Limited oversees the company's strategic direction, risk management, and compliance with regulatory standards, ensuring alignment with its mission to provide affordable housing finance. As of September 2025, the board comprises 8 members, meeting the regulatory requirement under SEBI LODR Regulation 17(1) for at least one-third independent directors (with a non-executive chairperson), by including 5 independent non-executive directors out of the total. The chairman, Deepak Satwalekar, serves as an independent non-executive director, guiding the board's deliberations while maintaining separation from daily operations. The board's composition emphasizes independence and expertise in finance and , with independent directors such as Sucharita Mukherjee, Geeta Dutta Goel, Anuj Srivastava, and Sriram Hariharan bringing specialized knowledge in areas like auditing, , and corporate strategy. Other members include Manoj Viswanathan and non-executive nominee directors Divya Sehgal, Maninder Singh Juneja, and Narendra Ostawal, reflecting a balanced mix that supports objective oversight. The company promotes board diversity to enhance and ethical , viewing it as essential for outcomes and regulatory adherence. This diverse profile, combining finance professionals with varied backgrounds, fosters inclusive perspectives in board discussions. Key board committees play a critical role in governance, including the Audit Committee, chaired by Sucharita Mukherjee with all independent members; the Risk Management Committee, led by Sriram Hariharan and including executive and independent representatives; and the Nomination and Remuneration Committee, headed by Geeta Dutta Goel. These committees ensure specialized oversight and full compliance with Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, as well as National Housing Bank (NHB) guidelines for housing finance companies. The board conducts annual evaluations in line with SEBI's Guidance Note on Board Evaluation issued on January 5, 2017, assessing performance, composition, and processes to uphold ethical standards and continuous improvement. This practice reinforces the board's commitment to transparent and accountable , prioritizing integrity in all supervisory functions.

Financial Performance

Key Metrics and Growth

Home First Finance Company Limited has demonstrated robust financial growth since its early years, driven by expansion in the segment. From 2018 (FY18) to FY25, the company's increased from ₹146 to ₹1,539 , reflecting a (CAGR) of approximately 39% over this period. Similarly, net profit after tax rose from ₹25 in FY18 to ₹382 in FY25, underscoring improved and scale. Assets under management (AUM) expanded significantly from ₹1,356 crore in FY18 to ₹12,713 crore in FY25, supported by consistent loan disbursals and a focus on underserved markets. Disbursals achieved a CAGR of approximately 31% during this timeframe, enabling the company to capture growing demand for home s among low- and middle-income households. Key performance indicators further highlight the company's financial health, with (ROE) of 16.5% in FY25 and gross non-performing assets (NPA) at approximately 0.2% as of March 31, 2025, indicating prudent and asset quality.
Fiscal YearRevenue (₹ crore)Net Profit (₹ crore)AUM (₹ crore)Disbursals (₹ crore)
FY18146251,356746
FY251,53938212,7134,805
Quarterly trends through Q2 FY26 show continued momentum. In Q1 FY26, total income reached ₹455 crore, up 33.4% year-over-year, and net profit grew 35.5% to ₹119 crore, with AUM increasing to ₹13,479 crore by June 30, 2025. In Q2 FY26, total income was ₹479 crore, up 28% year-over-year, net profit rose 43% to ₹132 crore, and AUM grew to ₹14,178 crore by September 30, 2025, amid favorable market conditions. These metrics position Home First Finance for sustained expansion in the housing finance sector.

Funding Sources and Ratings

Home First Finance Company India Limited maintains a diversified funding profile to support its lending operations in the affordable housing segment. As of March 31, 2025, the company's borrowings mix consisted of 60% bank term loans, 16% (NHB) refinance, 14% direct assignments, 3% co-lending, 3% external commercial borrowings (ECBs), 2% non-convertible debentures (NCDs), and 2% loans from non-banking financial companies (NBFCs), with equity comprising approximately 20% of total liabilities, reflecting a balanced approach between and capital to ensure liquidity and cost efficiency. Key funding sources include borrowings from major banks such as (SBI) and , which form the core of its bank term loans, alongside non-convertible debentures (NCDs) and refinance from the (NHB). In April 2025, the company raised ₹1,250 crore through a qualified institutional placement (QIP), issuing equity shares to qualified institutional buyers, which bolstered its . The investor base features prominent entities like GIC (via its subsidiary Waverly) and, until its exit in August 2025, Warburg Pincus, which had been a significant since 2020. The company's credit ratings underscore its robust financial position, with ICRA assigning a long-term rating of AA (Stable) in May 2025 and reaffirming the short-term commercial paper rating at A1+. These ratings highlight strong capitalization, evidenced by a capital-to-risk assets ratio (CRAR) of 49.6% as of June 30, 2025. Debt management is characterized by a diversified lender base of over 35 partners and a low cost of funds averaging around 8.4% for FY25 (excluding co-lending arrangements), enabling competitive borrowing costs. This funding structure has facilitated sustained asset under management growth, as detailed in the company's key metrics.

ESG Initiatives

Environmental Efforts

Home First Finance Company India Limited has prioritized green financing through its Green Homes initiative, which provides loans for eco-friendly residential constructions aimed at reducing energy consumption and environmental impact. Launched in collaboration with the (IFC), this program offers concessional financing for homes incorporating sustainable features such as improved insulation, efficient lighting, and water-saving appliances, targeting up to 20% energy efficiency gains. In 2022, the company secured a ₹280 credit line from the IFC specifically to support low-carbon projects, enabling the development of a dedicated business line. Operationally, Home First has implemented paperless processes to minimize its , with 82% of loan agreements digitally signed in the fourth quarter of FY25 and 76% for the full year, alongside 66% e-stamping and 82% e-NACH mandates. The company's branches incorporate energy-efficient designs, including cloud-based systems and open office layouts that reduce electricity usage. Additionally, Home First has supported solar integration in housing-related initiatives by partnering to install 10 solar irrigation pumps for marginal farmers in , , promoting adoption in rural areas. As of March 2025, the Green Homes program had certified 120 homes, with 230 customers onboarded overall, representing a growing segment of the company's lending portfolio focused on sustainable practices. The initiative includes eight completed projects pending final certification, underscoring Home First's commitment to scaling green affordable housing. Home First reports its environmental performance annually, disclosing Scope 1 and Scope 2 greenhouse gas emissions in line with the GHG Protocol, totaling 638.54 MTCO₂e in FY24, alongside energy intensity metrics of 764.49 kWh per ₹ crore of turnover. The company aligns its sustainability targets with India's net-zero emissions goal by 2070, emphasizing reductions in operational emissions and expansion of green financing.

Social and Community Impact

Home First Finance Company Limited (HomeFirst) emphasizes social inclusion through targeted programs that support underserved communities, particularly low-income and migrant populations, fostering financial and . The company's initiatives align with broader goals of reducing inequality by providing accessible housing finance and skill-building opportunities, enabling sustainable livelihoods and family stability. A cornerstone of HomeFirst's community efforts is Project Sashakt, launched to uplift migrant workers and their families in Ahmedabad's Narol area. This flagship CSR program offers comprehensive support, including skill training in trades such as , , and tailoring, with over 1,630 individuals enrolled and 1,000 certified in FY25, alongside housing assistance through and employment linkages. It also incorporates health services via weekly camps, drives, and kits, benefiting 7,308 walk-ins, as well as child development under Bal Sashakt, which provides , , , and holistic growth for children aged 6-15. By FY25, Project Sashakt had impacted more than 6,500 families, enhancing socio-economic resilience among vulnerable groups. In financial inclusion, HomeFirst prioritizes women and low-income households, with 89% of its loans involving female borrowers—13% as primary applicants and 78% as co-borrowers—promoting gender equity in homeownership. Through collaborations with the (PMAY), the company has facilitated subsidies for 38,507 families, disbursing ₹966.4 in credit to enable for economically weaker sections. These efforts target families earning below ₹50,000 monthly, with 61% of assets under management serving EWS and LIG segments. HomeFirst advances workforce diversity with 28% women employees overall, including 50% at the head office and 22% in , supported by gender sensitization workshops and cultural sensitivity training. CSR investments focus on and health in underserved areas, such as establishing STEM labs in 10 schools benefiting 5,200 students and conducting 98 outpatient departments (OPDs) for access. By FY25, these programs had reached over 45,000 beneficiaries, contributing to broader . Overall, HomeFirst has enabled homeownership for more than 117,000 low-income families, with 87% of its loan book under ₹25 lakhs, significantly advancing access to stable housing.

Governance and Reporting

Home First Finance Company India Limited maintains a robust framework for and reporting, emphasizing transparency and compliance with regulatory standards in its operations as a finance provider. The company adheres to the Securities and Exchange Board of India (SEBI) guidelines, including the Business Responsibility and Sustainability Reporting (BRSR) framework, which is integrated into its annual reports to disclose environmental, social, and governance (ESG) performance metrics. For fiscal year 2025 (FY25), Home First published an Integrated Annual Report that incorporates BRSR disclosures, covering material ESG issues such as and ethical practices without reporting any major controversies. In terms of ESG performance measurement, Home First has received a "Low Risk" ESG Risk Rating from Morningstar , with the score improving from 16.2 in prior assessments to 13.6 as of 2025, reflecting strong management of ESG-related risks in the banking, , and insurance sector. Additionally, the company's ESG Score stands at 46 out of 100, highlighting particular strengths in the social pillar, including and workforce practices, as evaluated through third-party assessments. These scores are derived from independent analyses that verify the company's disclosures and policies, ensuring in ESG reporting. Key governance practices include a comprehensive Anti-Bribery and Policy, updated in May 2025, which applies to all personnel and third parties to prevent unethical conduct and promote across operations. The company also enforces a Board Diversity Policy that seeks to ensure a balanced representation of skills, experience, and perspectives on its board, fostering inclusive decision-making and oversight of initiatives. ESG claims are subject to third-party audits and verifications by agencies like and , providing external validation of reported data and mitigating risks of non-compliance.

References

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  2. https://www.indiainfoline.com/company/home-first-finance-company-india-ltd/summary
  3. https://uk.finance.yahoo.com/quote/HOMEFIRST.NS/profile/
  4. https://homefirstindia.com/about-us
  5. https://www.reuters.com/markets/companies/HOME.NS
  6. https://finance.yahoo.com/quote/HOMEFIRST.NS/
  7. https://homefirstindia.com/files/HomeFirst%20Investor%20Presentation%20Q4FY25.pdf
  8. https://www.screener.in/company/HOMEFIRST/
  9. https://www.icra.in/Rating/GetRationalReportFilePdf?id=135502
  10. https://www.careratings.com/upload/CompanyFiles/PR/202507120758_Home_First_Finance_Company_India_Limited.pdf
  11. https://homefirstindia.com/blog/pmay-2-0-homefirst-your-best-home-loan-partner/
  12. https://www.dfc.gov/sites/default/files/media/documents/PublicSummary_HomeFirstFinance.pdf
  13. https://homefirstindia.com/blog/reimagining-home-loans-the-homefirst-way/
  14. https://www.cnbctv18.com/market/stocks/home-first-finance-share-price-q2-net-profit-jumps-43-on-strong-aum-growth-loan-disbursements-19741844.htm
  15. https://d2un9pqbzgw43g.cloudfront.net/main/RHP-Home-First.pdf
  16. https://www.livemint.com/Companies/kVFZvkbf03ywozkHnYde1K/USbased-Bessemer-buys-stake-in-affordable-housing-finance-s.html
  17. https://images.assettype.com/bloombergquint/2024-04/ead89663-ef1c-4bf9-b547-ad07b58a1681/Nirmal_Bang_Affordable_Housing_Finance__Initiating_Coverage__Sector_Thematic.pdf
  18. https://nishithdesai.com/dealcorner.aspx/true-north-acquires-controlling-stake-in-home-first-finance-company-for-usd-100-million-4068
  19. https://www.axiscapital.co.in/public/contents/20191129105853_home_first_finance_company_india_limited__drhp.pdf
  20. https://homefirstindia.com/app/uploads/2020/03/Anuual-Report-2019.pdf
  21. https://homefirstindia.com/app/uploads/2020/09/Annual_Report_19-20_V9-1-compressed.pdf
  22. https://warburgpincus.com/2020/10/08/warburg-pincus-to-invest-95mnr-700-cr-in-home-first-one-of-indias-leading-affordable-housing-finance-companies/
  23. https://www.livemint.com/market/ipo/home-first-finance-company-ipo-subscribed-26-57-times-so-far-on-last-day-11611576842061.html
  24. https://www.chittorgarh.com/ipo_subscription/home-first-finance-ipo/1080
  25. https://www.chittorgarh.com/ipo/home-first-finance-ipo/1080/
  26. https://www.thehindubusinessline.com/money-and-banking/homefirst-enters-into-co-lending-partnership-with-union-bank/article37974970.ece
  27. https://www.business-standard.com/article/news-cm/central-bank-of-india-signs-co-lending-partnership-with-hffc-122090700817_1.html
  28. https://www.livemint.com/companies/news/home-first-finance-raises-rs-280-crore-from-ifc-11671872187692.html
  29. https://homefirstindia.com/files/Sustainability%20Report.pdf
  30. https://homefirstindia.com/investor-relations
  31. https://homefirstindia.com/files/HomeFirst%20Q4FY25%20Investor%20Press%20Release.pdf
  32. https://homefirstindia.com/files/QIP%20-%20Press%20Release.pdf
  33. https://homefirstindia.com/files/HomeFirst_Q2FY26_Press_Release.pdf
  34. https://homefirstindia.com/files/Integrated%20Annual%20Report%20FY23.pdf
  35. https://www.homefirstindia.com/product/home-loan
  36. https://homefirstindia.com/blog/pmay-home-loan-apply-homefirst
  37. https://homefirstindia.com/blog/article/things-to-know-for-home-loan/
  38. https://pmaymis.gov.in/PMAYMIS2_2024/PmayISS.aspx
  39. https://www.paisabazaar.com/home-loan/home-first-finance/
  40. https://www.homefirstindia.com/pradhan-mantri-awas-yojana-pmay
  41. https://homefirstindia.com/files/HomeFirst%2520Investor%2520Presentation%2520Q2FY25.pdf
  42. https://homefirstindia.com/blog/article/types-loans-available-hffc
  43. https://homefirstindia.com/files/HomeFirst%2520Q1FY24%2520Transcript.pdf
  44. https://homefirstindia.com/files/HomeFirst%2520Investor%2520Presentation%2520Q4FY25.pdf
  45. https://homefirstindia.com/blog/article/homefirst-home-loan-process
  46. https://homefirstindia.com/blog/article/documents-needed-loan-application
  47. https://homefirstindia.com/blog/article/all-you-should-know-about-home-loan-disbursement-process
  48. https://homefirstindia.com/complaints-and-grievances
  49. https://www.nhb.org.in/en/complaint-cell-against-hfcs/
  50. https://homefirstindia.com/files/CG%20Report%20September%202025.pdf
  51. https://homefirstindia.com/files/HomeFirst%20Q1FY26%20Investor%20Press%20Release.pdf
  52. https://www.business-standard.com/companies/news/warburg-pincus-exits-home-first-finance-block-deal-125081101688_1.html
  53. https://www.icra.in/Rating/RatingDetails?CompanyId=27272&CompanyName=Home%20First%20Finance%20Company%20India%20Limited
  54. https://realty.economictimes.indiatimes.com/news/housing-finance/home-first-finance-company-reports-1856-net-profit-increase-in-q1-fy26/122906096
  55. https://disclosures.ifc.org/project-detail/SII/47289/home-first-debt
  56. https://homefirstindia.com/app/uploads/2020/05/CSR-Policy-1.pdf
  57. https://homefirstindia.com/files/CSRInitiativesFY22.pdf
  58. https://www.spglobal.com/sustainable1/en/scores/results?cid=6501148
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