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Affordable Housing Finance Firms Losing Grip

Financial Express Lucknow

|

August 25, 2025

Gaurav Mohta, chief marketing officer, HomeFirst Finance Company, doesn't share the common perception about the headwinds India's affordable housing companies are facing.

- Christina Titus

The real housing gap, he says, sits squarely in the ₹10-50 lakh bracket, especially in tier-2 and tier-3 cities, and that's not going away.

Mohta has a point, as affordable housing finance companies (AHFC) showed a robust 35-45% growth in their assets under management (AUM) during FY15-24, according to a report by Elara Capital. Stock markets also rewarded these companies: most AHFC stocks have outperformed broader markets on an year-to-date basis. For example, India Shelter has surged 28%, Home First Finance 25%, Aadhar Housing Finance 23%, and Aptus has gained 22%. In comparison, the Nifty Realty index has fallen 12%.

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