Shubham Housing Development Finance Company
Shubham Housing Development Finance Company Private Limited (Shubham) is a housing finance company, established in 2010. The company provides retail home loans to low income borrowers for a period of up to 15 years. Its primary products are mortgages, home-improvement loans and loans against property. Shubham focuses on rural, self-employed or micro entrepreneur customers who are moving away from being tenants to becoming owners. This also opens the door for further financial inclusion, as banks only provide credit to people with their own property. Moreover, the rental money that clients save now goes towards the equity of their home, thus building real wealth which can be used for funding retirement. As of 31 December 2015, Shubham’s cross loan portfolio amounted to USD 84.2 million.
Shubham marks an important milestone for Triodos Microfinance Fund and Triodos Fair Share Fund as the fund re-enters the affordable housing finance space. The addition of Shubham to the Triodos Microfinance portfolio fits with the fund’s strategy, both in regards to inclusive finance and increased focus on SMEs, especially in India.