Svatantra Micro Housing Finance Corporation
Nitesh Amarnani is an accomplished financial professional with extensive experience in various finance roles. Currently serving as Chief Financial Officer at Svatantra Micro Housing Finance Corporation since November 2020, Nitesh has previously held positions as General Manager Finance and Assistant General Manager. Prior experience includes the role of Finance and Compliance Manager at KARP Group and significant contributions at Suresh Surana & Associates LLP spanning from Assistant Manager-Statutory Audit to Audit Officer-Statutory Audits. Initial experience includes working as an Accounts Assistant at K.J Vegad and Co. Nitesh holds a Chartered Accountant degree from The Institute of Chartered Accountants of India and a Bachelor of Commerce from KC College, along with a SSC certification from St. Francis High School, Bhayandar.
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Svatantra Micro Housing Finance Corporation
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Svatantra Micro Housing Finance Corporation Limited (SMHFC) was incorporated in 2010 and acquired by Ms. Ananya Birla in 2018. SMHFC, is a systemically important NBFC-HFC. The company is amongst the most differentiated HFCs entity, which completely focuses on catering to EWS/ LIG customers in informal economy catering to their needs of Housing purchase, construction, renovation, and Loan against property. SMHFC today with a team of 600+ employees serve over 35,000 customers across 9 states with a loan book of more than INR 1200 cr. The HFC due to its focus on EWS/ LIG segment has amongst the lowest average ticket size and leveraging technology has a unique branchless model. SMHFC customers are mostly self-employed or employed in informal sectors where there is no formal documentation/ proof of income. The company has adopted a unique credit underwriting methodology to provide these customers loans to buy their first formal homes. All customers of SMHFC have been beneficiaries under various verticals of PMAY being affordable housing in partnerships, beneficiary led construction and credit linked subsidies. SMHFC works with Private builders and State governments to support their allottees to buy houses and provide funds, including PMAY viability gap funding to borrowers, to complete houses thereby creating inter-generational equity. SMHFC was also recognized with GIIRS ‘5 Stars Rating’ for Impact Operations and ‘Platinum Rating’ for Impact Business Model.