About Indiabulls Housing Finance

Indiabulls Housing Finance Limited, now known as Sammaan Capital Limited, is a prominent non-banking financial company (NBFC) in India. Established in 2005, the company has played a significant role in providing affordable housing finance solutions across the country. With a strong presence in both urban and rural areas, Sammaan Capital has been instrumental in making home ownership accessible to a diverse clientele, including salaried individuals, self-employed professionals, and micro, small, and medium enterprises (MSMEs).

Company Overview

Sammaan Capital is regulated by the Reserve Bank of India (RBI) and is registered with the National Housing Bank (NHB). The company offers a range of financial products, primarily focusing on home loans, loans against property, and construction finance. Its services cater to various customer segments, including salaried and self-employed individuals, as well as MSMEs. With a nationwide network of over 220 branches and a robust digital platform, Sammaan Capital has been able to reach a wide customer base, providing quick and convenient access to housing finance solutions.

Core Offerings

• Home LoansTailored to meet the needs of first-time homebuyers and those seeking to upgrade their living spaces, offering competitive interest rates and flexible repayment options.
• Loans Against Property (LAP)Providing individuals and businesses with the opportunity to leverage their property assets for funding, with attractive terms and conditions.
• Construction FinanceDesigned for builders and developers, offering financial support for residential and commercial projects, ensuring timely completion and quality construction.

Strategic Initiatives and Partnerships

In recent years, Sammaan Capital has undertaken several strategic initiatives to strengthen its position in the market. One notable move was its collaboration with global investment firm Oaktree Capital. Together, they established a special purpose vehicle (SPV) to acquire a significant portion of loans extended to developers, thereby providing liquidity and facilitating the completion of various real estate projects. This partnership underscores Sammaan Capital’s commitment to supporting the real estate sector and ensuring the timely delivery of housing projects.

Funding and Capital Raising

To diversify its funding sources and support its growth initiatives, Sammaan Capital has actively engaged in raising capital through various channels. In a recent development, the company successfully raised $350 million through its first overseas bond issue in over four years. The bonds, with a tenure of 39 months and an interest rate of 9.70%, were oversubscribed, attracting investments from prominent global investors such as PIMCO, BlackRock, and a sovereign fund from the UAE. The proceeds from this issuance are earmarked for financing home loans in the affordable housing segment and supporting small enterprises, aligning with the company’s mission to promote inclusive growth.

Rebranding and Organizational Changes

In 2024, Indiabulls Housing Finance underwent a significant transformation by rebranding itself as Sammaan Capital. This change reflects the company’s evolution from a promoter-led entity to a board-run, diversely held financial institution. The rebranding signifies a renewed focus on governance, transparency, and customer-centricity, aiming to build a more inclusive and sustainable financial ecosystem. Alongside the rebranding, the company has recalibrated its business model to emphasize a funding-light” approach, reducing reliance on external borrowings and focusing on co-originated or sold-down loan models with banks. This strategic shift aims to enhance profitability and mitigate risks associated with high leverage.

Leadership and Governance

Under the leadership of Managing Director Gagan Banga, Sammaan Capital has navigated through various challenges in the financial sector. The company’s commitment to strong governance practices and ethical business conduct has been central to its operations. The transition to a board-run structure, with a diverse set of stakeholders, reflects a strategic move towards greater accountability and alignment with global best practices in corporate governance.

Financial Performance and Outlook

As of March 2025, Sammaan Capital reported a balance sheet size of ₹0.70 trillion and had serviced over 1.6 million customers. The company’s financial performance has shown resilience, with a steady growth trajectory in its core lending business. The focus on affordable housing and MSME financing has positioned Sammaan Capital as a key player in India’s financial services sector. Looking ahead, the company aims to leverage its digital capabilities and strategic partnerships to further expand its reach and continue providing accessible financial solutions to underserved segments of the population.

Sammaan Capital’s journey from Indiabulls Housing Finance to its current iteration reflects its adaptability and commitment to meeting the evolving needs of the Indian financial landscape. Through strategic initiatives, innovative partnerships, and a focus on governance and customer satisfaction, Sammaan Capital continues to play a pivotal role in promoting financial inclusion and supporting the growth of the housing and real estate sectors in India. As the company moves forward, its emphasis on sustainable growth and responsible lending practices will be key drivers of its success in the competitive financial services industry.