Indiabulls Housing Finance (IBHFL) has booked business worth Rs 500 crore through the co-lending model route in five months of the present fiscal year and expects to scale it up to Rs 300 crore in September At the beginning of FY22, the mortgage lender tweaked the business model to incrementally specialise in the co-lending space by sharing risks and loan book with other banks or housing finance companies (HFCs) At present, it’s tie-ups with five financial sector players — HDFC, Canara Bank, financial institution of India, YES Bank and RBL Bank.

Gagan Banga, vice-chairman of IBHFL, said the operating found out for the co-lending business has improved over the months. Also, the corporate will proportion business volume from the present month. it’ll add another partnership for its loan against properties (LAP) business, taking the tally to 6 .

Loans are sourced by IBHFL under a joint credit policy, where 80 per cent of the loans are on the co-lending partner’s record and 20 per cent on IBHFL’s IBHFL earns spread on its portion of the loan and gets processing fee, fee and insurance income on the whole loan. The co-lending partner also pays an annual service charge .

IBHFL’s assets under management stood at Rs 65,438 crore at the top of June 2021, down from Rs 66,047 crore in March 2021 and Rs 73,065 crore in March 2020. pertaining to securitisation or saledown of loans, Banga said it might do transactions worth Rs 4,000 crore within the half ending September. it’s already securitised Rs 2,500 crore within the half-moon ended June 2021 and would conclude deals for the balance within the second quarter.

Besides home loans, the HFC is additionally selling down its commercial land (CRE) loan book. It intends to sell CRE loans up to Rs 2,500 crore by the top of this month The HFC is within the market to boost up to Rs 1,000 crore through non-convertible debentures, being targeted at retail investors. Tranche I features a base issue size of Rs 200 crore with a green shoe option up to Rs 800 crore. the corporate is tapping retail investors to broad-base sources of funds.