MUMBAI (Reuters) – India’s Mahindra & Mahindra Financial Services said on Friday it will expand its mortgage loan business to further strengthen its presence in the financial services sector.
The company will provide housing finance loans, top-up loans, home improvement and home extension loans, among others, its said in an exchange filing.
The Mumbai-based non-banking finance company (NBFC) will also participate in the government’s affordable housing loan schemes, it said.
The company expects to invest 200-300 million rupees ($2.4-$3.6 million) over the next 12 months, including IT spends, for the expansion, it added. ($1 = 83.8630 Indian rupees)
(Reporting by Siddhi Nayak; Editing by Savio D’Souza)
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