Vastu Housing Finance Corporation Ltd ( VHFC ) is a Public Limited Company registered with National Housing Bank (NHB ) as a Housing Finance corporation. The Company was incorporated on February 04,2005 under the provisions of Companies Act 1956.
If you are self-employed, and without comprehensive documented income or adequate credit history, getting a home loan can prove to be a huge challenge in India. This is because traditional lenders, in the current eco-system, find it difficult to ‘fit’ your case into their income assessment methods. Consequently potential home buyers like you end up borrowing from informal lenders or sometimes abandon the dream of owning a home, despite your need or indeed the basic ability to service the loan.
Vastu Housing Finance is addressing this gap by using a combination of technology and the traditional distribution model to provide simple, easy and flexible loans, and through its unique ability to acquire and underwrite large volumes of such loans, serve this under-served community.
VHFC is primarily engaged in socially relevant direct housing Finance. It will essentially provide loans to Self-Employed segment for following purposes:
- Purchase of house ( New & Re-Sale )
- Construction of house
- Extension/ Improvement of House building
- Composite Loan ( purchase of land & Construction of house)
- Commercial Purchase
- Loan against Property
- Builder Loans
Renuka Ramnath is the Chairperson at Vastu, she has spent over two and half decades in the Indian financial sector across private equity, investment banking and structured finance. As one of the early private equity investors in India, she played a pivotal role in shaping the market both in terms of leading pioneering investments such as buy-outs as well as opening new pockets of capital for investment in Indian private equity. In her last role as the MD & CEO of ICICI Venture for close to a decade, she has contributed in many ways to the evolution of that firm to one of the largest private equity funds in India.
Renuka brings on board her deep experience of raising, investing and returning third party capital across several economic cycles. She looks to build Multiples as a platform to channelise long-term capital, to create valuable enterprises and successful entrepreneurs. She draws motivation from the fact that supporting entrepreneurs to build sustainable businesses has the potential to generate employment, to create ripple effects in the Indian economy and to facilitate the greater process of nation building. Renuka holds a Bachelor of Engineering from VJTI, University of Mumbai and an MBA from the University of Mumbai. She has also completed the AMP from the Harvard Business School.
P.H. Ravikumar is a Non-executive Director at Vastu, he is a commercial banker with over 43 years of experience in the financial services sector. He was part of the core team which set up and built ICICI Bank Limited from inception. In banking, his experience spans the areas of retail, corporate and treasury banking in India and abroad. At ICICI Bank, his responsibilities included business strategy as also risk management and he helped this unit become an industry leader in a short span of time. As the Head of SME & Agri Business in the merged ICICI Bank, his role included building and growing the bank’s portfolio in these sectors both on liabilities as well as on assets side, apart from services to these sectors. In its first full year of functioning, the bank emerged as the second largest lender to the agri business sector in India, with disbursements of over INR 200 crores (USD 42 million). He was also the founder Managing Director and CEO of National Commodities & Derivatives Exchange Ltd. He and his team conceptualized and set up the Exchange.
Ravikumar is a Commerce graduate with professional qualifications as an associate of Indian Institute of Bankers and the Chartered Institute of Bankers London. He is also a Fellow of Securities Investments Institute, London. He is on the boards of several other companies including Bharat Forge Ltd and Eveready Industries India Ltd.
Samir Bhatia is a Non-executive Shareholder Director at Vastu, he has worked with leading banks and financial institutions such as Citibank, HDFC Bank, Barclays Bank and Equifax, over the past 27 years. Samir started his career with CitiBank and did various roles in risk, financial control and corporate banking.He was part of the founding team at HDFC Bank and led the Corporate Banking Division serving Large & Medium Enterprises. He was Managing Director – India & Indian Ocean, Global Retail and Commercial Bank for Barclays Bank. Samir Bhatia was Managing Director and CEO for Equifax and was involved in the formation of the Company in India from the start-up phase, including selecting JV partners, raising capital, setting up and building Equifax in India. He is currently the Founder & CEO of SMEcorner.com, an online platform that enables SMEs to avail of financial solutions from banks and NBFCs.
Sudhir N. Variyar
Sudhir N. Variyar is a Non-executive Shareholder Director at Vastu, he joined Multiples Alternate Asset Management in 2009 at inception. Sudhir has been in the private equity industry since 2005, and has a strong investment track record. Prior to Multiples, Sudhir was a Senior Director at ICICI Venture. In this capacity, Sudhir led investments in the financial services and energy sectors and was part of the Investment Committee at ICICI Venture. At Multiples, Sudhir is one of the investment committee members. Sudhir is on the Board of Vikram Hospitals and SSN Logistics.
Girija Shankar Nayak
Girija Shankar Nayak is a Independent Non-executive Director at Vastu, he is a Sr. Chartered Accountant and the Managing Partner at G S Nayak & Co, Mumbai. He leads the Audit, Taxation, Bank Audit team. He has researched extensively on the emerging issue of convergence into Global Accounting Standards called IFRS including transition, reporting and audit. He is instrumental in rendering professional advice on International tax issues including DTAA application and Transfer Pricing. He is also Independent director in some Public and Private Limited Company in his Professional Capacity.
Sandeep Menon is the Managing Director at Vastu, he is a senior banker with over 19 years of diverse experience across Business Management, Sales and Marketing, Product management, Collections and Risk Managements with various Country level Business leadership roles across Commercial Vehicles, Auto finance, SME lending , Home loans and Personal loans across leading Foreign Banks and Financial Institutions such as GE Capital, Standard Chartered and Barclays Bank. He was formerly the National Sales Head for Car loans, National head for Retail SME lending at Standard Chartered Bank.Sandeep was part of the founding team at Barclays Bank in India as the Director and Head of Retail Assets and Banking Startergy.