DMI Housing Finance Pvt Ltd, a subsidiary of Delhi-based non-banking finance company DMI Finance Pvt Ltd, has appointed Swarnpal Singh Bais as chief executive officer, according to a press statement.
In his last role, Bais was business head and founding team member of Aadhar Housing Finance Ltd, where he developed a business portfolio of Rs 1,500 crore. Adhar Housing operates through 90 branches in 13 states.
An engineering graduate with an MBA in sales and marketing, Bais has 18 years of experience in varied roles with companies, including Standard Chartered and ICICI Bank.
“We will leverage the expertise, technical capability and market reputation of our parent, DMI Finance, to build a customer centric housing finance company, that provides enhanced value and a superior customer experience,” Bais said.
DMI Housing Finance started its operations in September 2012 and caters to the affordable housing segment. DMI Housing Finance plans to grow to a book size of Rs 300 crore in FY17-18 and Rs 3,000 crore in FY20-21.
The company has built its business focused on the affordable housing finance and aims cover over 200 tier-II and tier-III housing markets across India by FY20-21.
Shivashish Chatterjee, co-founder and joint managing director, DMI Finance, said, “The affordable housing market has a tremendous potential. We are making a long-term commitment to the space.”
DMI Finance was set up in 2009 by former Citigroup executives Shivashish Chatterjee and Yuvraj C Singh. It has offices in Delhi, Mumbai and Bangalore.