In India’s evolving financial landscape, where housing finance plays a pivotal role in shaping both economic growth and social equity, Muthoot Homefin (India) Limited (MHIL) has emerged as one of the fastest-growing players in the affordable housing segment. As a 100% subsidiary of Muthoot Finance Ltd., MHIL combines the deep trust of legacy with an agile, customer-first approach to create meaningful impact.
A Trusted Partner in Affordable Housing Finance
MHIL offers a wide range of financial solutions to meet the diverse needs of customers, including:
● Affordable Home Loans for the purchase, construction, or extension of homes.
● Loan Against Property (LAP) for business expansion, education, or personal funding needs.
● Government Subsidy Schemes (PMAY-linked loans) to help eligible customers avail housing subsidies under the Pradhan Mantri Awas Yojana.
By combining the trust of the Muthoot brand with agile customer-centric processes, MHIL is empowering Indian families to achieve the dream of home ownership.
Alok’s Inspirational Journey
As CEO of National Trust Housing Finance, he led the complete turnaround of a stagnating portfolio into a profitable, well-governed institution. Colleagues on LinkedIn describe him as a leader who balances strategic clarity with personal conviction, a builder of both systems and teams. At Equitas SFB, Tata Capital, and Magma HFC, Alok built scale by instilling operating discipline. But what makes him rare is his ability to listen, enable, and move decisively to take charge and achieve goals.
When he took charge of MHIL in January 2023, the company had immense untapped potential. Under his stewardship, MHIL has grown disbursals 7x, doubled AUM to ₹3,000+ Cr, expanded its branch presence, and secured a ₹200 Cr promoter infusion in 2025.
Balancing Growth with Prudence
The greatest achievement for MHIL was in balancing rapid growth with quality and compliance. Affordable housing borrowers often lack formal income documentation, complicating underwriting. To address this, MHIL has embedded data-driven decision-making, improved turnaround times, strengthened risk frameworks, and empowered local teams. This disciplined yet agile approach ensures sustainable growth.
Vision Backed by the Promoter and Board
This transformation would not have been possible without the consistent support of Mr. Eapen Alexander Muthoot, Whole Time Director of MHIL. His confidence in the new leadership team and his strong emphasis on long-term governance over short-term gains gave MHIL the license to think big and act right. The Board too played a critical role, asking tough questions, encouraging bold moves, and holding execution accountable without micro-managing it.
What Makes MHIL Stand Out
MHIL addresses the needs of underserved self-employed and non-professional segments through its sharp focus on affordable housing. The company has expanded to 150+ locations, leveraging the grassroots recall of the Muthoot brand to build strong direct customer relationships and cross-sell opportunities. Speed is another hallmark. Turnaround Time (TAT) has been embedded as a cultural reset and a key performance metric across functions. Equally, MHIL’s people-first approach shines through 100% hiring via internal referrals, fostering ownership, loyalty, and commitment within teams. Together, these differentiators make MHIL a trusted and agile player in the affordable housing finance space.
Culture of Trust and Accountability
MHIL’s culture is built on empowerment, inclusivity, and accountability. The company emphasises daily branch huddles, merit-based appraisals, and equal dignity for both on-roll and off-roll employees. Its unique 100% internal referral hiring strategy fosters loyalty, reduces attrition, and strengthens cultural cohesion.
Remarkable Achievements and Milestones
MHIL has achieved remarkable results since its inception. The company’s disbursals have grown sevenfold, from ₹173 Cr in FY 2022-23 to ₹1,250 Cr in FY 2024-25. Its AUM has more than doubled, exceeding ₹3,000 Cr in the same period.
MHIL has expanded its branch presence across India, with a strong focus on Tier-2 and Tier-3 markets. The promoters’ infusion of ₹200 Cr in 2025 demonstrates their confidence in the company’s growth prospects.
Advice for Aspiring Entrepreneurs
“Affordable housing finance is more than lending, it is a mission to transform lives”, quotes Alok Aggarwal. For those looking to make an impact, he advises respecting risk and maintaining underwriting discipline. Be customer-centric by designing journeys, building people ownership, thinking long-term and using tech wisely.
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