This CEO is Enabling Affordable Home Ownership in India
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DHFL’s inception about 33 years ago was based on the fundamental necessity to enable people from the lower and middle income (LMI) group to own a home. Even after three decades, DHFL stands strong as one of India’s leading housing finance companies. However, it has navigated tremendous change over the years. Spearheading the company growth strategy is Harshil Mehta, who was appointed as the CEO in January 2015.
Mehta has over 25 years of experience in the Banking and Financial Services industry. Prior to joining DHFL, he was the MD and CEO of Aadhar Housing Finance, also operated in the same segment. He has also served in companies such as ICICI Bank, Transamerica Commercial Finance and Whirlpool India in the past.
Talking about his future growth strategies, Mehta says, “Our expansion momentum continues as we are planning to reach out to customers in new tier II and III cities and towns to strengthen our distribution capabilities.”
Talking about DHFL, leading financial services provider catering to the LMI segment, Mehta says, “DHFL set a benchmark in the Indian capital market through two public Non convertible debentures (NCD) issuances. I believe, this endeavor has significantly repositioned DHFL’s borrowing portfolio.” DHFL has created history in the Indian capital markets by raising a record Rs 14,000 crore within one month from two public NCD issuances.
Personally, Mehta believes in an open-office culture that makes communication and collaboration much easier. “In the new, rapid-turn world, we need to communicate in ways that can promote greater responsiveness, drive results, and accountability. As one of India’s leading affordable finance companies serving over a million of diverse customers in an accelerating business environment, we believe in the power of collaboration. Collaboration means the ability to work together effectively, within and among teams, to get results, develop products and solutions faster, and drive customer and shareholder value,” shares Mehta. The affordable housing finance industry is at a very exciting stage.
The Government’s policies through several path-breaking initiatives to stimulate demand and supply of affordable homes, has opened up growth opportunities for DHFL. To this Mehta adds, “We believe that DHFL’s rich heritage, a well-defined vision and a wealth of experience in catering to the LMI segment will be the key pillars that will continue to sharpen its competitive advantages.” Mehta has embarked upon several new initiatives across various disciplines which have already started to strengthen the company’s speed of response.
(This article was first published in the July issue of Entrepreneur Magazine. To subscribe, click here)