New Delhi: Fintech firm Basic Home Loan expects two to three-fold revenue growth to Rs 150-200 crore in the current fiscal due to deployment of artificial intelligence-based tools and an increase in collaboration
with real estate firms, a top company official said.Basic Home Loan co-founder and CEO Atul Monga told PTI that the company has plans to list on exchanges by 2030.
He said the firm aims to scale up business across multiple fronts, including geographic expansion, to tap into a new customer base."Last year, we generated a total revenue of approximately Rs 70 crore. This year, we are on track to achieve Rs 150-200 crore. This growth has been fuelled by several key factors, including the launch of HOM-i, scaling of Homfinity and stronger collaboration with the real estate sector," Monga said.
Founded in 2020, the company is building an online brokerage for mortgages to make home loans accessible through doorstep fulfilment for low-middle-income households in tier-2 and 3 cities.The company claims that AI-based solution HOM-i has analysed over 3 lakh customer profiles and 2 lakh property profiles, leading to Rs 30,000 crore in sanctioned loans.
Backed by investors such as Bertelsmann India Investment and Nikhil Kamath's Gruhas, Basic Home Loan BASIC claims to have a presence in 650 districts with over 100 financing partners.It claims to process loan applications worth over Rs 8,500 crore every month.
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