Ummeed Housing Finance Raises INR 250 Cr from BII to Boost Affordable Housing
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Ummeed Housing Finance Private Limited has raised INR 250 crores from British International Investment, the United Kingdom's development finance institution and impact investor.
The Gurugram‑based housing finance company will deploy the capital as mortgage‑backed loans targeted at low‑income and underserved borrowers across India, with a significant focus on enabling women to become homeowners.
The funding will be channelled into long‑tenure, affordable housing loans designed to increase property ownership and strengthen financial inclusion in urban and semi‑urban areas. According to the company, these loans will help address a critical financing gap for groups that often lack access to formal credit.
Ashutosh Sharma, Founder and Managing Director of Ummeed Housing Finance, said, "It is a proud moment for us to be associated with British International Investment. This BII facility will help us drive the development agenda, leading to the improvement in the quality of life for borrowers and co-borrowers in the low- and middle-income strata of the society."
Founded by Ashutosh Sharma, Ummeed Housing Finance offers home loans, business loans, and loans against property, primarily for lower and middle‑income families. Operating under the regulatory framework of the Reserve Bank of India and the National Housing Bank, the company has expanded to over 130 hubs in 9 states. Its services cater to customers with informal incomes, simplifying the mortgage process and reducing loan turnaround times.
Since inception, the company has served more than 33,000 customers and has assets under management exceeding INR 2,400 crores. This new investment is expected to benefit up to 3,000 women through property ownership and financial empowerment. It also qualifies as a 2X investment under a global initiative to promote women's economic participation.
Shilpa Kumar, Managing Director and Head of India, British International Investment, commented, "Having an affordable and safe home can lay the foundation for underserved families to access better economic opportunities and improve their livelihoods. By increasing access to housing finance through Ummeed, we are helping more women to build their financial resilience. It is in line with the Government's vision of facilitating Housing for All and we ensure the support reaches those who need it the most."
With this capital infusion, Ummeed aims to strengthen its role in expanding affordable housing access and promoting inclusive growth in India.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
44 minutes ago
- Bloomberg
Oil Holds Drop as Traders Dismiss Impact of US Moves Over Russia
Oil held a five-day decline — the longest losing run since January — as investors looked beyond US efforts to punish buyers of Russian crude, while tracking a diplomatic push by President Donald Trump to halt the war in Ukraine. West Texas Intermediate was little changed below $65 a barrel after slumping to the lowest close since early June, while Brent settled just shy of $67. On Wednesday, Trump doubled tariffs on Indian goods to 50% due to the nation's purchases of Russian energy, with implementation set to begin in three weeks. Still, there's been no similar US move against China, another major importer of Moscow's oil.
Bloomberg
an hour ago
- Bloomberg
Billionaire Who Rode India's Real Estate Boom Warns of Risks
Billionaire Irfan Razack seized on India's post-pandemic property boom to amass a $5.5 billion fortune alongside his two brothers. Now, the 71-year-old chairman and managing director of real estate developer Prestige Group is warning that pockets of stress are building even as the nation's burgeoning property market motors on. Among these is an oversupply of office spaces, apartments and unsold stock in the tech hub of Hyderabad. In residential real estate, soaring costs are increasingly putting homeownership out of reach of many and cooling demand, he said.
New York Times
2 hours ago
- New York Times
Trump's Tariff Gamble Puts America's Ties With India at Risk
President Trump has staked enormous political capital on being the one to end the war in Ukraine, even asserting that he could do so 'in 24 hours.' In perhaps his biggest gamble yet to achieve that goal, he pledged on Wednesday to punish India with tariffs of 50 percent for buying Russian oil. At stake is the relationship between the United States and an increasingly important strategic partner in Asia. India, the world's most populous democracy, and the United States, its most powerful one, have an unusual relationship. They are friendly but not close, brought together by mutual interests and shared values, especially in recent decades. On Wednesday, Mr. Trump seemed ready to ditch that relationship. He doubled already hefty tariffs on Indian exports to the United States for its steadfast refusal to stop buying oil from Russia, in an effort to pressure Russia to end the war. Mr. Trump has accused India of helping Russia finance its war on Ukraine through oil purchases; India has said it needs cheap oil to meet the energy needs of its fast-growing economy. India called the additional tariffs 'unfair, unjustified and unreasonable,' pointing out that it was being punished for doing something — buying Russian oil at a discounted price — that other nations have done, although it didn't mention names. China is the largest buyer of Russian oil, and Turkey has also deepened its energy links with Russia since the start of the war in Ukraine, without incurring similar penalties. Analysts said Mr. Trump's pressure tactics could damage the longstanding ties between India and the United States. 'We are better off together than apart,' said Atul Keshap, a retired U.S. diplomat and president of the U.S.-India Business Council. 'The partnership forged by our elected leaders over the past 25 years is worth preserving, and has achieved considerable mutual prosperity and advanced our shared strategic interests.' Want all of The Times? Subscribe.
