Satin Housing Finance Limited (SHFL) is a professionally managed housing finance company (HFC) that provides long-term housing loans to customers belonging to low and middle-income groups, spread across the peripheries of urban, semi-urban and rural India. Incorporated on April 17, 2017, the company received its Certificate of Registration from the National Housing Bank (NHB) in November 2017 and successfully commenced its operations from February 2018. With its foray into the rapidly growing and much talked about affordable housing sector underway, Satin Housing Finance has signed a MOU with the NHB for the Credit Linked Subsidy and Mortgage Guarantee schemes and is further looking to actively participate in the Pradhan Mantri Awas Yojana initiative.
The company was founded on the belief that the dream of owning a home should be attainable to one and all. Keeping with this vision, Satin Housing Finance brought together financially sound promoters, visionary leadership and a highly experienced team of home loan professionals, all with a shared endeavour – to help people turn their home ownership aspirations into a reality, with the purchase of an affordable dwelling unit to call their own.
To achieve this, Satin Housing Finance has created and implemented robust procedures and processes for its Credit, Operations and IT departments, alongside establishing extremely strong Corporate Governance systems. The company follows the best ethical practices code in place and their mission of maintaining the highest transparency in all aspects of their business. Satin Housing Finance also stays updated with contemporary technology, employing state-of-the-art software and adopting excellent technological frameworks to ensure smoother processes through digitization and a paperless environment. All these factors serve to ensure that Satin Housing Finance maintains its unbeatable efficiency in customer delivery.
The other driving force behind the company’s success is their actual product portfolio – all SHFL offerings stay true to their core organizational values of inclusivity, maintaining a keen focus on thin-file clients and the underserved sections of the society, which form the lower and middle levels of the income pyramid. So along with a host of innovative and flexible home loans that can enable the purchase, construction, extension and repair of affordable dwelling units, Satin Housing Finance also provides Loan Against Property (LAP) products.
With a focused approach to growth and expansion in the affordable housing segment, Satin Housing Finance is set to scale up operations from its current branches in Haryana, Rajasthan, Uttar Pradesh and Delhi. The next few months will see the company opening more braches across Haryana, Rajasthan, Uttar Pradesh and Delhi NCR, followed by a phase-wise approach to deeper penetration in these states expansion into others like Madhya Pradesh, Gujarat, Bihar and parts of Uttar Pradesh.
Satin Group Profile
Satin Creditcare launched its operations as a provider of individual and small business loans and savings services to urban lenders in 1990, going on to be registered as an NBFC with the RBI in 1998 and converting into an NBFC-MFI in November 2013.
The company completed its IPO in the fiscal year of 1997 and was duly listed on the Delhi Stock Exchange (DSE), Ludhiana Stock Exchange (LSE) and the Jaipur Stock Exchange (JSE). Following the subsequent de-recognition of these exchanges by SEBI, Satin Creditcare listed its Equity Shares on the Calcutta Stock Exchange (CSE) on May 19, 2015, on the NSE on August 26 and the BSE on October 20 in the same year, adhering to the guidelines and policies issued by SEBI regarding the exit option to regional stock exchanges (issued December 29, 2008) and the exit policy for derecognized/non-operational stock exchanges (issued May 30, 2012).
In 2017, Satin Creditcare incorporated Satin Housing Finance Limited, a wholly owned subsidiary with the aim of providing financing in the affordable housing segment and leveraging our rural outreach. This foray into the MSME and housing finance segments was inevitable, keeping in line with the group company’s strategy of product diversification and movement from unsecured to secured lending.
Our business is primarily based on the Joint Liability Group model, which allows us to provide collateral-free, microcredit facilities to economically active women in both rural and semi-urban areas, who otherwise have limited access to mainstream financial service providers. We also offer loans to individual businesses and Micro, Small & Medium Enterprises (MSMEs); product financing for the purchase of solar lamps, as well as loans for the development of water connections and sanitation facilities.
With operations spanning 21 states and union territories across India, including Uttar Pradesh, Bihar, Madhya Pradesh, Punjab, Haryana, Rajasthan, Uttarakhand, Maharashtra, West Bengal, Gujarat, Jharkhand, Delhi & NCR, Chhattisgarh, Assam, Orissa, Himachal Pradesh, Tamil Nadu, Karnataka and Chandigarh, Satin Creditcare maintains a focus on rural and semi-urban areas, ensuring that our services reach deep within those numerous regions that usually face low or at best, moderate rates of penetration by other microfinance institutions.
Board of directors
Mr. HP Singh
DirectorA law graduate and fellow of The Institute of Chartered Accountants of India since 1984, Mr. HP Singh has over three decades of microfinance experience to his credit and is responsible for pioneering….
Mr. Sundeep Kumar Mehta
Independent DirectorMr. Mehta is a science graduate from the University of Rajasthan and holds a PG Diploma in Business Administration from Annamalai University.
Mr. Anil Kumar Kalra
Independent DirectorWith 34 years of banking experience across leading companies in London and India, Mr. Kalra is extremely well versed in the areas of banking, financial services, investment banking and infrastructure financing.
Mr. Amit Sharma
Managing Director & CEOMr. Amit Sharma has over 20 years of rich experience in NBFCs and the Financial services sector into Domestic and International Markets & has held key positions in Large Corporate Houses.
Dr. Jyoti Ahluwalia
Independent DirectorDr. Ahluwalia is a Ph.D. holder and Master’s in Commerce from University of Allahabad. She also holds degree of Chartered Financial Analyst from Institute of Chartered Financial Analysts of India.
Mr. Sachin Sharma
Chief Financial Officer (CFO)With an illustrious career spanning more than 12 years behind him, Mr. Sachin Sharma is a career banker with a difference – his rich experience…
Mission & Vision
To become India’s top affordable housing finance company in the rural and semi-urban segment over the next 5 years, gaining repute for our efficiency, innovation and dedication to the three principles of organizational success – People, Process & Technology (PPT). To this endeavour, we will also embrace the latest technology for bolstering our financial prowess and adopt the most innovative Credit Solutions for Assessment and Disbursement.
To help every family find a home, by providing inclusive financial solutions to all sections of society, partnering and supporting them from the very start. We strive to earn the respect and admiration of clients, partners and employees alike, by ensuring that all professional relationships are built on trust and transparency and the company’s culture reflects an atmosphere of growth, ownership and satisfaction.
OUR Core Values
We strive for perfection and excellence in all that we do and it is this motto that has led to the sustained growth of SHFL, regardless of upheavals in the economic environment. The sincerest efforts of every member of the Satin family to uphold these values shows in the treatment of customers and employees, while dealing with investors and clients and above all, in the supportive and inspiring environment we work in.
Accountability & Ownership
Accountability is all about answerability; the willingness to accept a task and be responsible for completing it to the best of one’s abilities. Ownership, on the other hand, requires not only taking onus of the task at hand, but responsibility for the outcome of it, whatever that may be. While workloads and responsibilities are often shared at SHFL, each person feels completely accountable for the job they do. Employee diligence and dedication form the very foundation on which happy, successful companies are built.
Teamwork & collaboration
The SHFL way is to ‘do it better together!’ We believe in the collaborative approach; each person finds their niche in the company and the best manner in which to serve its needs, rather than chasing individual gains. Teamwork brings out the best in people and at SHFL, we feel that positive, constructive and efficient collaboration can ensure success.
Strength and stability, both moral and financial, are the backbone of SHFL. Integrity is at the apex of our business and we hold ourselves to the highest financial, intellectual and ethical standards no matter what.
As a company, SHFL aims to create value for all the people associated with it, through its various endeavours and actions. Be our customer, vendor or people we work with, SHFL endeavours to make an impact and difference to all those we interact with.
Awards & Recognition
Rising Star- Housing Finance Company of the Year 2021
Outperform housing finance company during the year 2021-22
Indian Achievers' Award for Emerging Company, 2021-22
For the Achievement and Contribution in Nation Building
BFSI Excellence Award 2022
Exemplary Contribution to the BFSI industry by Mr. Amit Sharma, MD & CEO of SHFL
Financial Inclusion Leader of the Year-NBFC
Under 3rd Annual BFSI Technology Excellence Awards program 2022