Home First Finance Company India Limited
Home First Finance Company India Limited (Home First) is a housing finance company founded on February 3, 2010 with offices in various cities across India. It is a public limited company, listed on stock exchanges since February 3, 2021. The company ...
Key Metrics
EPS
34.55
Current ratio
8.42
Debt/Equity
3.49
Debt/EBITDA
17.98
Interest coverage ratio
-
Operating Cashflow to total debt
-0.26
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Comfortable asset quality metrics and earnings profile
Comfortable capitalisation
Diversified funding profile
Liquidity position: Strong
Cons
Relatively high, albeit improving, geographical concentration
Limited portfolio seasoning as significant portion of the book was sourced in the last few years –
Relatively vulnerable borrower profile
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About Home First Finance Company India Limited bond.
This comprehensive profile covers key factual information about Home First Finance Company India Limited. Home First Finance Company India Limited (Home First) is a housing finance company founded on February 3, 2010 with offices in various cities across India. It is a public limited company, listed on stock exchanges since February 3, 2021. The company primarily provides housing loans, loans for the purchase of commercial property, and loan against property (LAP) under the affordable finance category. Home First’s AUM stood at Rs. 9,698 crore as on March 31, 2024, managed through 133 branches (excluding satellite branches) spread across 13 states and Union Territories across India. It primarily caters to the affordable housing segment (both home loans and non-housing loans) with an average ticket size of Rs. 11-12 lakh and average rate of interest of 13-15%. The company also offers relatively higher ticket size loans of ~Rs. 20-25 lakh under co-lending arrangements with partner banks (RoI of 10.5- 11.0%). Home First reported a net worth of Rs. 2,121 crore as on March 31, 2024 and a net profit of Rs. 306 crore in FY2024 on a total managed asset base of Rs. 11,096 crore (including off-book and expected credit loss (ECL) provision). EPS in Mar-2024 was 34.55. Current ratio in Mar-2024 was 8.42. Debt/Equity in Mar-2024 was 3.49. Debt/EBITDA in Mar-2024 was 17.98. Interest coverage ratio in Mar-2024 was . Operating Cashflow to total debt in Mar-2024 was -0.26. Total revenue for Mar-2025(E) was ₹1,309.86. Net income for Mar-2025(E) stood at ₹369.81. Total assets as of Mar-2024 were ₹9,533.96. Operating cash flow for Mar-2024 was ₹-1,907.68. The company’s borrowing relationships include Axis Bank Limited (₹N/A Cr), Bajaj Finance Limited (₹N/A Cr), Bank of Baroda (₹N/A Cr), Bank of India (₹N/A Cr), Canara Bank (₹N/A Cr), Central Bank of India (₹N/A Cr), CSB Bank Limited (₹N/A Cr), DCB Bank Limited (₹N/A Cr), Federal Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), HSBC Limited (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), IDBI Bank Limited (₹N/A Cr), Jammu & Kashmir Bank Limited (₹N/A Cr), Karnataka Bank Limited (₹N/A Cr), Karur Vysya Bank Limited (₹N/A Cr), Kotak Mahindra Bank Limited (₹N/A Cr), National Housing Bank (₹N/A Cr), Qatar National Bank SAQ (₹N/A Cr), Shinhan Bank (₹N/A Cr), South Indian Bank Limited (₹N/A Cr), State Bank of India (₹N/A Cr), Union Bank of India (₹N/A Cr), Axis Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), IDBI Bank Limited (₹N/A Cr), Kotak Mahindra Bank Limited (₹N/A Cr), State Bank of India (₹N/A Cr), (₹N/A Cr). Peers and comparison entities consist of Home First Finance Company India Limited, LIC Housing Finance Limited, PNB Housing Finance Limited, Aptus Value Housing Finance India Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Comfortable asset quality metrics and earnings profile ; Comfortable capitalisation; Diversified funding profile; Liquidity position: Strong . Key risks include: Relatively high, albeit improving, geographical concentration ; Limited portfolio seasoning as significant portion of the book was sourced in the last few years –; Relatively vulnerable borrower profile . Leadership team details include Manoj Viswanathan (Managing Director and CEO), Ajay Khetan (Chief Business Officer), Gaurav Mohta (Chief Marketing Officer), Nutan Gaba Patwari (Chief Financial Officer), Ramakrishna Vyamajala (Chief Human Resources Officer), Arunchandra Jhupalli (Business Head – South Zone), Abhijeet Jamkhindikar (Business Head – West Zone), Ashish Darji (Chief Risk Officer), Rupesh Mehta (Head Technology), Vilasini Subramanium (Head – Strategic Alliances), Deepak Satwalekar (Chairman and Independent Director), Sucharita Mukherjee (Independent Director), Anuj Srivastava (Independent Director), Divya Sehgal: (Nominee), Maninder Singh Juneja (Nominee), Narendra Ostawal (Nominee). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.