Sahara Housing Fina Corporation Limited
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BSE Code:
511533
NSE Code:
SAHARAHOUS
Business Profile
Business Profile
Sahara Housingfina Corporation (LIVHOMFI) belongs to the Sahara India Pariwar. The company earlier known as Livewell Home Finance Company was acquired by the Sahara Group in 2002. It is engaged in housing loan business.
The company provides loans under three different schemes, namely comparative home loan scheme, comparative mortgage loan scheme and comparative nrp loan scheme. These loans are provided for various purposes such as ready/under construction property, self construction, repairs and renovations/extension, existing loan take-over, mortgage and NRP loan, ..etc. LIVHOMFI provides loans from Rs 100,000 to Rs 10 million for a minimum tenure of one year to a maximum tenure of 20 years. The borrower can choose between fixed and floating interest rates and can make the prepayment of the loan after 6 months with a nominal fee. Company provides loans from 50% to 85% of the total cost of property.
The company has also tied up with National Insurance Company for its comprehensive insurance cover product called National Insurance Sahara Home Loan Suraksha Bima, which covers the borrowers of the company against specific risks/perils/natural calamities.
The company operates from four regions, namely Kolkata, Lucknow, Hyderabad and Mumbai and has 13 branches spread over various parts of India.
Financials
Sahara Housingfina Corporation posted a net profit of Rs 5.54 million for the year ended Mar. 31, 2007 on an operating income of Rs 75.72 million. Total income for the year stood at Rs 80.57 million. During the year, the company posted an EPS of Rs 0.79.
Recent Developments
03-JAN-07
A rights issue has been approved by the shareholders of the company with requisite majority.
08-AUG-06
1. Sahara Housingfina Corporation acquired 20,000 acres of land for its proposed investment of Rs 8 billion on each of its city homes spread in 217 cities.The project will be undertaken for just the residential part of the City Home project in two phases. The first phase, covering 102 cities, wherein the size of each project would vary between 100 and 360 acres, would be completed in five to six years. 2. The investment per project in all the cities would be Rs 6 to 8 billion exclusive of the land cost. Sahara had received clearances for six cities including Ahmedabad, Gwalior, Lucknow, Chandigarh, Jaipur and Indore, while 59 applications were awaiting clearances. 3. Commercial development in the projects, which will include hotels, retail outlets, entertainment floors, hospitals and schools would account for 4% to 5% of the total area or as the state government regulations demand.The residential product-mix in the project will be a combination of high-rise, mid-rise and independent houses. The independent houses include row houses, semi-detached houses and bunglows.