India's Mahindra & Mahindra Financial to expand mortgage business

Mahindra and Mahindra Financial Services

13/09/2024 11:09

MUMBAI, Sept 13 (Reuters) - India's Mahindra & Mahindra
Financial Services  MMFS.NS  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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