Centrum Housing Will acquire housing finance business including loan portfolio, branches and employees center group said in a regulatory filing to the stock exchanges. The loan book of Natrust was over Rs 300 crore.
ET had reported on the possibility of a deal on Friday.
hub Its loan portfolio stood at around Rs 700 crore at the end of September. Jaspal Bindra, Executive Chairman, Centrum Group, said in a statement, “The acquisition strengthens our presence in South India, and will help us increase our penetration in our chosen geographies.”
“There is a growing demand for affordable housing in India beyond metros and Tier 1 cities. Smaller cities are witnessing higher demand driven by greater urbanisation, digitisation, better infrastructure and connectivity, said Bindra.
Natrust is a Chennai based affordable housing finance company with presence in 17 locations across four states in South India. Centrum Housing is present in nine states – Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, Telangana, Karnataka, Rajasthan, Uttar Pradesh, Uttarakhand, Rajasthan; and in Delhi.