What Home First Finance Company does

Home First Finance Company India Limited is a publicly listed housing finance company headquartered in Mumbai, India, founded in 2010 and listed on the NSE (ticker: HOMEFIRST) and BSE. The company operates as a non-banking financial company (NBFC) specializing in affordable housing finance, targeting the economically weaker sections (EWS), low-income groups (LIG), and middle-income groups (MIG). It serves this segment through a network of 155+ branches across India, with a stated geographic expansion roadmap into Uttar Pradesh, Madhya Pradesh, and Rajasthan. The company is positioned within the affordable housing segment of Indian credit, with 83% of loans below a Rs 25 lakh ticket size and 59% of loans to EWS/LIG categories.

The company's core product is home loans, underwritten using a digital cashflow assessment methodology that analyzes behavioral data to evaluate borrowers who lack formal income documentation, including self-employed and informal-income customers. The company has integrated with government housing schemes such as PMAY 2.0 and pursues EDGE/IGBC certifications for green housing, supporting a Green Home Loans product line. As of Q4 FY26, assets under management stood at Rs 15,878 crore. The technology stack is oriented toward automated underwriting and digital origination rather than proprietary AI research; the company's moat in this dimension is the operational data accumulated over a decade of underwriting informal-income borrowers.

The business model generates revenue primarily through interest income on its housing loan book, complemented by arrangement fees and co-lending economics. For FY26, the company reported total revenue of Rs 1,908.26 crore and profit after tax of Rs 540.38 crore, with a return on assets of 4.1% and gross non-performing assets of 1.8%. Distribution is a hybrid of direct branch-based lending and co-lending partnerships (most recently with J&K Bank in March 2026), supporting a high-volume, low-ticket retail loan book. Capital has been raised through a mix of equity (Rs 1,250 crore QIP in April 2025), NCDs (notably the Rs 280 crore IFC issuance in December 2022), and traditional debt, with ownership transitioning as Warburg Pincus exited its stake in August 2025.

Name

Home First Finance Company

Legal name

Home First Finance Company India Limited

Website

https://homefirstindia.com/

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Home First Finance Company India Limited is a publicly listed affordable housing finance company headquartered in Mumbai, operating 155+ branches across India. It provides home loans to EWS, LIG, and MIG customers using digital cashflow assessment, with FY26 AUM of Rs 15,878 crore.

Ownership category

akta.pro rank

Product category

Affordable Housing Finance

NAICS

Nondepository Credit Intermediation (5222), Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

First-Time Homebuyer (FTHB) Mortgage Origination (FSALAAAG)

akta.pro secondary industries

Government-Insured Mortgage Origination (FHA/VA/USDA) (FSALAAAI), New Construction-to-Perm (Single-Family Owner-Occupied) (FSALAHAA)

Keywords

• Affordable housing finance
• Home loans
• Mortgage lending
• Housing finance company
• Property loans

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income: Core revenue from interest charged on home loans, construction loans, mortgage loans, shop loans, and top-up loans. The company serves the affordable housing segment with loan ticket sizes primarily below ₹25 lakhs.
2. Processing Fees: Fees charged for loan processing and administrative services related to loan origination
3. Insurance Commission: The company is an IRDAI registered corporate agent (CA0909) earning commission from insurance product distribution
4. Green Home Subsidy: The company offers 2.4% green home subsidy on loans up to ₹25 lakhs, funded through partnership with IFC for green housing development

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Home First Finance Company India Limited is a publicly listed affordable housing finance company that provides secured mortgage products including home loans, self-construction loans, resale loans, loan against property, shop loans, renovation loans, and top-up loans to first-time home buyers in the EWS, LIG, and MIG income categories across India. The company also offers a Green Home Loan in partnership with IFC and integrates government PMAY 2.0 interest subsidies directly into loan processing, with 83% of its loan book below ₹25 lakh ticket size.

Product overview

Home First Finance Company India Limited is an affordable housing finance company offering a comprehensive suite of housing loan products including Home Loans, Self-Construction Loans, Resale Loans, Mortgage Loans, Shop Loans, Renovation Loans, and Top-up Loans. The company also supports government-sponsored affordable housing through PMAY 2.0 subsidies and maintains a Green Home Loan initiative in partnership with IFC. Customer engagement is facilitated through digital tools including EMI, eligibility, and PMAY subsidy calculators, along with mobile applications for loan tracking and partner connectivity. The product portfolio targets first-time homebuyers in the affordable housing segment with loans primarily below ₹25 lakh, operating across multiple Indian states with branch network expansion.

Differentiator

Problem solved

Functional benefit

Brands

• HomeFirst Customer Portal: Mobile app for customers to manage loans, track applications, and make EMI payments
• HomeFirst Connect

Products and services

• Home Loan Home loan for purchasing a house or flat, with 48-hour loan sanction guarantee, targeted at first-time home buyers in the affordable housing segment.
• Self-Construction Loan Loan for building a home on the customer's own plot, supporting self-build construction projects for first-time home builders.
• Resale Loan (Home Loan Balance Transfer) Home loan for purchasing a resale property, also offered as a Home Loan Balance Transfer product for existing borrowers.
• Mortgage Loan (Loan Against Property) Loan against property (LAP) allowing customers to borrow against their existing property value for business or personal needs.
• Shop Loan Business loan for entrepreneurs looking to set up or expand commercial shop spaces, typically for small business owners.
• Home Extension and Renovation Loan Home extension and renovation loan for upgrading or expanding existing homes.
• Top-up Loan Additional loan amount over and above the existing home loan for various financial needs of existing borrowers.
• PMAY 2.0 Home Loan Subsidy Government subsidy program under Pradhan Mantri Awas Yojana offering up to ₹1.8 lakh interest subsidy on first ₹8 lakh of loan, credited in five installments directly to the loan account, available for EWS/LIG/MIG first-time home buyers with annual income up to ₹9 lakh.
• Green Home Loan Eco-friendly home loan supporting construction with green features, offering 2.4% cashback subsidy on loans up to ₹25 lakh, with certification through EDGE, IGBC, or GRIHA rating systems, delivered in partnership with IFC.

Quantifiable outcome

• ₹966.4 crore subsidy facilitated for 38,507 customers in PMAY 1.0
• +5 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Jammu and Kashmir BankcoreChannel Partner/ Reseller/ Distributor · 8 March 2026J&K Bank signed co-lending agreement with Home First Finance for home loans to expand retail lending business outside Jammu and Kashmir. The partnership combines J&K Bank's deposit franchise and branch network with HomeFirst's domain expertise in affordable housing to accelerate credit delivery to underserved customer segments.
• EDGE (Excellence in Design for Greater Efficiencies)coreStrategic or Co-development PartnerHome First Finance partners with IFC's EDGE green building certification system to guide affordable home builders through green certification. The partnership enables 20% savings in energy, water, and embodied energy of materials for certified green homes.
• IGBC (Indian Green Building Council)coreStrategic or Co-development PartnerHome First Finance guides customers through IGBC Green Homes certification process, with the IGBC NEST programme starting under ₹6,000 for homes under 150 sq m.

Scale indicators16 records

Recent moves10 records

Expansion highlights5 records

Emerging players

• Vastu Housing Finance: Emerging Indian HFC focused on affordable housing for self-employed and informal-income borrowers, similar to HomeFirst's primary customer segment. Smaller in scale but operates in overlapping geographies.
• IIFL Home Finance: Indian HFC with a meaningful affordable housing book, including for informal-income borrowers. Similar product positioning around PMAY-subsidy enabled loans and underserved segments.

Direct peers

• Aadhar Housing Finance: Indian housing finance company focused on affordable housing for EWS/LIG segments with similar ticket size discipline and branch-led distribution. Listed in 2024 with comparable AUM scale and a similar PMAY/government-subsidy focus.
• Aavas Financiers: Pure-play affordable housing finance company in India targeting salaried and self-employed low/middle-income borrowers. Highly comparable in customer segment, ticket size, and branch-based GTM.
• Bajaj Housing Finance: Major Indian HFC with growing affordable housing book alongside prime housing. Comparable product mix (home loans, LAP) and a recently listed HFC competing on ticket size and digital processing.
• PNB Housing Finance: Publicly listed Indian HFC with a similar diversified loan product mix (home loans, LAP, construction). Comparable in origin and asset profile, with a broader geographic reach.
• Can Fin Homes: Indian housing finance company (Canara Bank subsidiary) focused on home loans with a similar salaried + self-employed borrower mix. Comparable in product offering and regulatory structure as a listed HFC.
• Indiabulls Housing Finance: Listed Indian HFC with diversified home loan, LAP, and commercial mortgage products. Comparable business model even with somewhat different customer mix, serving as a relevant benchmark for HFC economics.

Broad incumbents

• LIC Housing Finance: One of India's largest HFCs offering the full suite of home loan products. Overlaps with HomeFirst in core product categories but operates at much larger scale with broader ticket sizes and prime-housing emphasis.
• HDFC Bank (Housing Finance): India's largest mortgage lender with a sweeping affordable housing push. Competes directly with HomeFirst in prime and emerging affordable segments, leveraging a deep deposit base and lower cost of funds.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Homefirstindia
• YouTubeyoutube.com/@HomeFirst
• Facebookfacebook.com/homefirstindia
• LinkedInlinkedin.com/company/home-first-finance-company/mycompany
• Instagraminstagram.com/homefirstindia/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds4 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Home First Finance Company