Shriram City Union Finance can seek investors for housing

Shriram Housing Finance would need about 5 billion rupees ($ 68 million) over the next three to four months, said Shriram City CEO Yalamati Srinivasa Chakravarti. A couple of investors have approached Shriram, he said, declining to share names.

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“We are still evaluating whether to fund the entire claim or partially take it up from an external party,” Chakravarti said in a telephone interview from Hyderabad on Monday.

India sees strong demand for mortgages after the central bank reduced borrowing costs and when the economy reopens from lockdown. Some government agencies have also cut taxes to encourage purchasing, as construction is the largest job-creating sector in India.

Shriram Housing reported its highest quarterly payout ever at 5.95 billion rupees last quarter, according to an investor presentation.

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