In a resounding endorsement of its robust performance and strategic direction, Grihum Housing Finance Limited (Grihum, formerly Poonawalla Housing Finance Ltd) has been awarded a significant credit rating upgrade by CRISIL, India’s premier credit rating agency. The Company’s long-term credit rating has been upgraded to ‘CRISIL AA/Stable’ from ‘CRISIL AA-/Stable,’ with its short-term rating reaffirmed at ‘CRISIL A1+.’
The rating upgrade reflects Grihum’s sustained profitability, expanding scale, stable asset quality, and exceptional capitalisation support provided by its majority stakeholder, TPG Group.
Strong Financial Metrics: Operating profitability consistently improved in FY24, even as the Company scaled its operations. A diversified funding base ensured a stable borrowing cost of ~8.3% in H1 FY25, amidst challenging economic conditions.
Grihum’s net worth stood at Rs 2,489 crore as of September 30, 2024, underscoring its financial strength and resilience. The Company’s Assets Under Management (AUM) surged to Rs 9,129 crore, backed by a rapidly expanding customer base of 83,000+ and an extensive branch network spanning 200 locations across India.
On this achievement, Manish Jaiswal, Managing Director & Chief Executive Officer, Grihum Housing Finance, shared, “This rating upgrade is a testament to Grihum’s unwavering commitment to operational excellence and customer-centric growth. It recognizes our prudent financial practices, efficient liability management, and steadfast dedication to creating value for all stakeholders. Backed by the trust of the TPG Group and the exceptional efforts of our talented team, we have achieved remarkable progress in a short span.
Our mission remains focused on empowering millions of Self-Made Indians (SMIs) with the opportunity of homeownership while staying rooted in our values of trust, humility, and togetherness. Looking ahead, our proprietary low-code/no-code platform, ‘Ekhum,’ and advanced data-driven analytics will continue to redefine loan lifecycle management, setting new standards in customer service. We deeply appreciate the confidence of the rating agencies and FI's in our vision and execution, and we are committed to scaling even greater heights in the years to come.”
Grihum has developed a formidable leadership team comprising industry veterans with over two decades of experience in housing finance, risk management, and strategic operations. Coupled with TPG Group’s intellectual capital and adherence to global best practices, Grihum has cemented its position as a leader in India’s affordable housing finance landscape.
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