Bajaj Housing Finance, India’s most valuable mortgage lender, sees competition ebbing
Bajaj Housing Finance Ltd., the country’s most valuable mortgage lender following its blockbuster trading debut Monday, sees competition in the housing market easing as larger banks retreat from retail segments and switch focus to corporate credit, where demand is picking up.
Sanjiv Bajaj, chairman of the home-loan unit of India’s largest shadow lender and part of one of the country’s oldest conglomerates, said banks have focused on retail business in recent years, given softer demand from corporate borrowers and this has made housing finance “a very competitive market at this point of time”.
But that is changing, Bajaj told Bloomberg Television’s Haslinda Amin and Menaka Doshi, a day after the company’s shares listed to a rousing welcome from investors. As India continues to grow, “corporate lending is restarting, so hopefully there’ll be a little less margin pressure,” on the home loan business, he said, adding the firm would be looking to expand in a “sensible manner.”
The company has been focused on seven or eight key markets, which account for most of the housing demand in the country, Bajaj said. “There is enough opportunity in these states. We will keep growing and add new cities each year,” he said.
Bajaj Housing Finance has been growing faster than the industry rate of 12% to 13%, he said. “We expect that to continue,” he added.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, Developer and Lead Instructor
Artificial Intelligence(AI)
Basics of
