About SRG Housing Finance Limited

SRG Housing Finance Limited (SRG) is a retail and affordable housing finance company dedicated to bridging India’s credit gap in underserved rural and semi-urban regions through tailored housing loan and loan against property (LAP) solutions. Headquartered in Udaipur, the company is listed on both BSE and NSE. Founded in 1999 as Vitalise Finlease Pvt. Ltd., it became a public limited company in 2004. SRG has been a pioneer in Rajasthan’s housing finance sector—being the first company from the state to register with the National Housing Bank (2002), list on BSE SME (2012), migrate to BSE Main Board (2015), and list on NSE (2024).

As of FY 2024–25, SRG’s operations spanned seven states and one union territory through 90 branches, serving over 19,000 customers with the support of 32 lenders. The company’s workforce stood at 866 employees as of March 31, 2025. SRG is rated BBB; Stable by CARE Ratings and BBB+; Stable by Acuité Ratings & Research. The company offers comprehensive loan products including home construction, purchase, renovation, and extension loans; LAP for residential or commercial needs; balance transfer options; plot-cum-construction loans; and resale home financing. Its customer base largely consists of first-time borrowers with informal but stable income sources. SRG maintains a rural–urban borrower mix of 94.66% rural and 5.34% urban.

Its network covers Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, and Delhi, with branch distribution as follows: Rajasthan (32), Gujarat (22), Maharashtra (14), Madhya Pradesh (13), Karnataka (5), Andhra Pradesh (3), and Delhi (1). SRG operates a single business segment aligned with its core activity of housing finance and reports no subsidiaries, joint ventures, or associate companies.

Key Milestones of SRG Housing Finance Limited

• 1999 – Founded as Vitalise Finlease Pvt. Ltd.
• 2002 – Became the first Rajasthan-based housing finance company registered with the National Housing Bank.
• 2012 – Achieved listing on BSE SME, marking Rajasthan’s first SME exchange listing.
• 2015 – Became India’s first company to migrate from BSE SME to the BSE Main Board.
• 2017 – Completed its first private placement listing (March) and NCD placement (August).
• 2024 – Listed on the National Stock Exchange of India Limited, expanding its market visibility.
• 2025 – Grew its branch network to 90 (from 67 in FY24) and achieved AUM of Rs 759.36 crore as at March 31, 2025.

SRG Housing Finance Limited Business Segment and Geographic Presence 

Product Offerings:

• Home construction, purchase, renovation, and extension loans.
• Loan against property (residential or commercial).
• Balance transfer and top-up loan products.
• Plot-and-construction loans and builder/project financing.

Operational Geographies:

• States: Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, and Delhi.
• Branch Network: 90 branches as of March 31, 2025.
• Borrower Mix: Rural (94.66%) and Urban (5.34%).

SRG focuses on middle- and low-income borrowers in rural and semi-urban markets, supported by accessible credit processes and decentralised branch operations that promote financial inclusion.

SRG operates as a single business segment under housing finance, providing individual home loans and LAP solutions. The company caters largely to self-employed and first-time borrowers with informal income sources, delivering products customised to regional housing needs. In FY25, housing loans accounted for 73.06% of the loan book, while LAP comprised 26.94%, reflecting an enhanced focus on affordable and primary housing borrowers. Total AUM stood at Rs 759.36 crore as of March 31, 2025, supported by a balanced borrowing mix from financial institutions (48%), banks (46%), and NHB (6%).

SRG Housing Finance Limited Key Management

• Vinod Kumar Jain – Managing Director
• Archis Jain – Chief Executive Officer
• Ashok Kumar – Chief Financial Officer
• Divya Kothari – Company Secretary

Latest Updates on SRG Housing Finance Limited

• Branch and market expansion: SRG widened its branch footprint from 67 to 90 in FY25, enhancing access in rural and semi-urban markets.
• Portfolio restructuring: Housing loans increased to 73.06% of total assets under management, while LAP declined to 26.94%, underscoring the company’s emphasis on affordable housing.
• Capital infusion: Raised Rs 80 crore in equity and Rs 194 crore in borrowings during FY25 to strengthen the balance sheet and expand business capacity.
• Preferential allotments: Issued 2,00,000 equity shares upon warrants exercise on May 24, 2024; 7,76,263 shares at Rs 333 on September 2, 2024; and 13,68,000 shares at Rs 365 on March 18, 2025. Listing approvals for the March issue were received post balance sheet date.
• Leadership and governance: Independent Director Nishant Badala’s tenure ended on May 14, 2025. Subject to shareholder approval, Krati Jain was appointed as an Independent Director for five years effective the same date.
• Performance metrics: Reported robust financial metrics with CRAR at 47.75%, GNPA at 1.84%, NNPA at 0.61%, and NIM on AUM at 10.63% during FY25.