lIC Housing Finance limited (lIC HFl), a premier housing finance company in India, opened its 8th Regional Office at Bhopal.

Vinay Sah, MD and CEO, lIC HFl, inaugurated the Regional Office at Asha Avenue, Z1, Zone 1, MP Nagar, Bhopal on Tuesday. Mukesh Gupta, Zonal Manager in-charge of Central Zone, lIC of India, Bhopal, Jayshree, Director, Zonal Training Centre, lIC of India, Bhopal and Saji Paul, Regional Manager, lIC HFl, Bhopal were also present on the occasion.

Speaking on the occasion of the inauguration of the Regional Office, Sah said, “This marks another step towards enhancing our geographic presence across the country and reinforces our commitment to be closer to our customers”. 

He informed that the company is well placed to deliver 15 – 16 per cent growth in disbursals during the current financial year mainly driven by loans from affordable housing segment.

Central Region of lIC HFl caters to the states of Madhya Pradesh and Chhattisgarh having 9 and 4 marketing offices respectively apart from one Back Office in each state.  The Region is growing around 15 per cent during the current fiscal. Sah held strategic business meet with the frontline marketing officials to enhance market presence and deepen penetration in cities of Bhopal, Indore, Gwalior, Raipur, Ujjain, Bilaspur, Jabalpur and Satna.  The Company continued with its good run in disbursements during the first quarter of FY18 registering growth of 17 per cent year-on-year. The loan book grew at a healthy clip of 15 per cent and stood at Rs 147,051 crores as at end of June 30, 2017.