Are you comfortable with the name of Wadhawan Group? Wadhawan Group is basically a large group of companies dealing with lots of sectors in unison, ranging from real estate to retail company and as per latest reports, it is contriving target the low and low-middle income households in low-income states. The group is definite to accomplish this aim before long and this gets confirmed through its latest approach. Wadhawan Group has brought to the fore new subsidiary — NewCo — under its housing finance firm Dewan Housing Finance Corporation.
Dewan Housing is a veteran player in the pertinent scenario and has been functioning in India with vigor for the past 25 years. The esteemed housing finance firm is all set to start this project, with a budget in the region of Rs 100 crore. It has been learnt that Dewan Housing, at the moment, is looking to divest just about 20 per cent to a private equity investor.
It has also come to the knowledge that NewCo will take a look at low and low-middle income households in Bihar, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Jharkhand and Orissa. There is almost no doubt that NewCo, as indicated by reports, is destined to aim low and low-middle income households, who in general have limited or no access to formal financial services, and help improve access to housing finance for them.
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