Aspire Home secures Rs. 200cr infusion

In an attempt to ensure smooth flow of funds in the housing sector, Motilal Oswal Financial Services' has decided to infuse Rs 200-cr into Aspire Home Finance Corp (AHFCL) in the current financial year on expectation of strong growth in the housing finance business. AHFCL is a subsidiary of Motilal Oswal Securities, which is a part of Motilal Oswal Financial Services. MOFSL commands cash worth Rs 286.7-cr on books as of March 31. In fact, the company expects that the housing finance business will continue doing well and that the company has infused Rs 300-cr in Aspire. Oswal is positive on the company's housing finance business as it is showing traction in disbursements and reach. In the quarter ended March, the company's housing finance related income stood at Rs 89.9cr, up 470% and loan book was at Rs 2,100cr.