December 12, 2024 07:59 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Donald Trump vows to eliminate birthright citizenship after taking charge | No alliance with Congress in Delhi polls: AAP chief Arvind Kejriwal | Bengaluru techie's suicide: Atul Subhash's wife and her family booked | Bengaluru techie's suicide: Atul Subhash's wife and her family booked | INDIA bloc to knock on Supreme Court's doors over alleged EVM manipulation during Maharashtra polls | 'Babri Masjid should be rebuilt in Bengal's Murshidabad': TMC MLA Humayun Kabir sparks row | Rajnath Singh calls on Russian Prez Vladimir Putin in Moscow, discusses bilateral defence cooperation | Police to investigate conspiracy angle in Mumbai bus accident that killed 7 | Mamata Banerjee should lead INDIA bloc: Lalu Prasad Yadav | Opposition moves no-confidence motion against VP Jagdeep Dhankar in RS
Photo courtesy: Pixabay

Mahindra & Mahindra Financial Services to enter mortgage business

| @indiablooms | Sep 14, 2024, at 03:55 am

Mumbai: Mahindra & Mahindra Financial Services is all set to enter the mortgage business with its board greenlighting the new venture, media reports said.

Under the new business, the non-banking finance company will provide housing finance, top-up loans, lease rental discounting, home improvement and home extension loans among other services, according to a Moneycontrol report.

The lending firm aims to use its solid geographical reach in the retail loan space to make available the mortgage lending opportunity for its existing customers as well as new customers, it said.

The board of directors approved the expansion into the mortgage business in a meeting held on Friday.

An investment of about Rs 20 - 30 crore has been set over the next 12 months, the report said.

Mahindra & Mahindra Financial Services Limited shares closed at Rs 332.75 on the NSE, with a 0.44 percent increase. The stock has soared 20.93 percent in 2024 so far, outperforming the Sensex, which grew by 14.69 percent during the same timeframe.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.