Motilal Oswal Home Finance Limited (Previously Aspire Home Finance Corporation Limited) Unlisted Shares

(i) Aspire Home Finance Corporation Limited (AHFCL) is a professionally managed housing finance company incorporated on 01.10.2013, with a unique combination of financially sound and technically experienced promoters who are well known in their domain for professional ethics and strong execution capabilities.

(ii) AHFCL works on the business philosophy of financial inclusion of Lower and Middle Income (LMI) Indian families by providing them access to long term housing finance.

Motilal Oswal Home Loans, provides one of the fastest turn-around times for processing applications, enabling credit access on fair terms. Provision of a value-added proposition like Property Services and Insurance Services, and best in class service for the customer segments makes MOHF the preferred choice of over 60,000 customers in the LMI segment.

(iii) AHFCL is a subsidiary of Motilal Oswal Financial Services Limited (MOFSL). MOFSL is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail.

(iv) AHFCL is registered with National Housing Bank (NHB) under section 29A of the National Housing Bank Act, 1987 as an HFC under section 29A of the National Housing Bank Act, 1987 vide Certificate of Registration No. 05.0111.14 dated May 19, 2014.

Journey of AHFCL

2014:
(i) Commencement of Business Operation on 22.05.2014.
(ii) The first disbursement booked in Akola Branch June 2014.
(iii) Loan book crossed 50 Cr.

2015:
(i) Presence across 14 locations.
(ii) Total staff: 160 employees.
(iii) Loan book at 357 Cr with 3565 live accounts.
(iv) Year-end PAT at 18 Cr CRISIL upgrades rating for long term borrowings from “A/Stable” to “A+/Stable“ Loan book crosses 550 Cr with 5,500 Cr live loan accounts Present at 23 locations.

2016:
(i) Present in 51 Locations with employees count of 500.
(ii) PAT for the years at 40 Cr.
(iii) Received first 50 Brand 2016 award by WCRC.
(iv) Presence extended to 62 location.

2017:
(i) Awarded second prize for best performing Primary Lending Institution under CLSS for EWS/LIG by Ministry of Housing and Urban Poverty Alleviation.
(ii) Expanded to 6 new states with a presence in 121 locations with a staff count of 1049.
(iii) loan Book of 4165 Cr with 46,142 live accounts.

2018:
(i) 4682 Cr of the loan book.
(ii) Capital Infusion by MOSFL of Rs. 150 Cr.
(iii) Strengthening of a core team.
(iv) Strengthening Credit & Risk

Motilal Oswal Home Finance Limited (Previously Aspire Home Finance Corporation Limited) Unlisted Shares Details:

Total Available Shares:	Not Available
Face Value:	₹ 1 Per Equity Share
ISIN:	INE658R01011
Lot Size:	500 Shares
Current Unlisted Share Price:	₹ Best in industry Per Equity Share
Retail Discount:	Bulk Deal (1%)

Promoters And Management:

(i) MR. MOTILAL OSWAL, Chairman Mr. Motilal Oswal is the Chairman and Managing Director of Motilal Oswal Financial Services Ltd. (MOFSL). He is a Chartered Accountant and started the business along with co-promoter, Raamdeo Agrawal in 1987. Oswal has served on the Governing Board of the BSE, Indian Merchant’s Chamber (IMC) and has also served on various committees of BSE, NSE, SEB, and CDSL. He is the President of the Jain International Trade Organization (JITO) and has been awarded the Rashtriya Samman Patra by the Government of India for being amongst the highest income taxpayers in the country for a period of 5 years. (ii) MR. RAAMDEO AGRAWAL, Director Mr. Raamdeo Agrawal is a Chartered Accountant and the Joint Managing Director of Motilal Oswal Financial Services Limited (MOFSL) and also the co-founder of Motilal Oswal Securities Limited. He is the man behind the strong research capabilities at Motilal Oswal Financial Services Ltd. A keen believer and practitioner of the QGLP philosophy, his wealth creation insights, and decades-rich experience have played a pivotal role in MOFSL, transforming it from a small stockbroking firm to a well-diversified financial services company. (iii) Mr. Navin Agarwal, Vice Chairman He is the Managing Director of Motilal Oswal Financial Services Limited. He is responsible for the Institutional Broking & Investment Banking Businesses and has been instrumental in building a market-leading position in the Institutional Broking business. Under his leadership, the firm has been rated as The Best Indian Brokerage House by Asiamoney. Leveraging on the dominant

Financials of Motilal Oswal Home Finance Limited (Previously Aspire Home Finance Corporation Limited) Unlisted Shares:

Particulars(Cr)	2017	2018	2019
Revenue from operations	570	662	648
Expense	445	613	859
PAT	82	31	-136
Book Value	1.31	1.5	1.37
Face Value	1	1	1

Financial Highlights of 2017-18: (i) Loan book- 4,863,+17% YoY (ii) NIM – 4.1% NNPA-3.3% (iii) Provision Coverage – 35%. (iv) Debt to equity - 4.9x. (v) Cost to income - 38%. (vi) Capital adequacy - 38% Highlights of FY18-19 (i) They cater to pure-retail affordable housing space through Motilal Oswal Home Finance (previously known as Aspire Home Finance Corporation). (ii) During the year, they concentrated efforts in re-building the home finance business in terms of processes, system, manpower, and structure to strengthen the business. As a result, they have followed a conservative approach in disbursements which stood at Rs 290 crores in FY2019. (iii) The loan book stood at Rs 4,357 crores across 52,000+ families as of Mar 2019. (iv) The average ticket-size continued to be lower at Rs 8.5 lakhs in FY2019. They have put in place a vertical organization structure comprising sales, credit, collection, and legal team. (v) The implementation of the cluster-level credit layer along with 5 layer credit approval system based on loan ticket sizes and differentiated pricing methodology for loans based on risk type should likely result in improved underwriting, going forward. (vi) Macro-economic events like demonetization, RERA and GST and absence of the collection engine coupled with lack of vertical structure earlier led to a surge in NPAs. This year they have written off loans worth Rs. 290 crore in FY2019 as a conservative policy. They are expecting the recoveries from write off the pool, given the robust collections and legal team now in place. (vii) Motilal Oswal Group has infused Rs 200 crores during the year and this takes the total capital infused to R 850 crores. (viii) There ~57% of the borrowings come from the capital markets in the form of NCDs and ~43% from banks. Q3 Dec-19 Financials of Motilal Home Finance Financials of Motilal Oswal Home Finance FY18-19

Company Address:

Aspire Home Finance Corporation Ltd., Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai- 400025

Discussion on Motilal Oswal Home Finance Limited (Previously Aspire Home Finance Corporation Limited) Unlisted Shares:

Motilal Oswal Home Finance reported profit of Rs. 21.4 Cr in 9 months of FY 20 and Rs. 16.1 Cr in 3rd Quarter.

* Margins have improved to 5.2% in 9 months, on account of improvement in yield and lower cost of funds.

* Loan book stood at Rs. 3,779 Cr as. Disbursements in 9 months were Rs. 146 Cr. New book sourced from April’18 validates the new credit policy with 11 cases in NPA out of 4500 loan cases.

* CRISIL has upgraded MOHFL’s rating to AA-(stable outlook) from earlier A+(stable). This will further benefit MOHFL in bringing down cost of funds and improve spreads.

* Strong support from parent continues with total capital infusion to Rs. 850 Cr. Net Gearing Stands at 3.4x.

* Limited borrowing repayment for next 1 year, strong undrawn borrowing lines and ALM places us in comfortable liquidity situation.

Motilal Oswal Home Finance Sells Pool of Non-Performing Assets

(i) Motilal Oswal Home Finance has sold a non-performing loans pool of 540 Cr to Phoenix ARC.

(ii) Motilal Oswal Home to get 260 Cr for the assets, having an outstanding book value of 345 Cr.

(iii) The sale has helped reduce the company’s net NPA ratio to 1.51% Co.’s debt-equity gearing ratio 4x, cash balances of 1000 Cr, the filing says.

The filling copy is given below.

https://dyvmwwyqozzzb.cloudfront.net/main/New-Doc-2019-09-26-14.52.07_1.pdf

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