Affordable housing finance company Shriram Housing has rebranded as Truhome Finance, following its recent acquisition by Warburg Pincus.
In May 2024, Warburg announced that it will acquire the housing finance company from Mumbai-listed Shriram Finance and private equity firm Valiant Partners for Rs 4,630 crore, or around $555 million, making it one of the largest deals in the affordable housing segment. Subsequently, Qatar’s sovereign wealth fund Qatar Investment Authority joined the cap table.
“While our name has changed, our core mission remains the same — to make affordable home loans accessible to every individual together with our commitment to quality and customer satisfaction,” said Ravi Subramanian, managing director and chief executive officer.
Since commencing operations in 2011, the affordable housing financier has established a network of over 165 branches. The company’s net profit rose 58% year-on-year to Rs 217.4 crore in the financial year ended March 2024, aided by a growth in the loan book.
The assets under management (AUM) rose 71% to Rs 13,762 crore as on March 31 hit the Rs 16,000-crore mark as of December.
