Centrum Housing will purchase the housing finance enterprise together with the mortgage portfolio, branches and workers, the Centrum group mentioned in a regulatory submitting to inventory exchanges. Natrust’s mortgage guide was over Rs 300 crore.
ET had on Friday reported the potential for the deal.
Centrum had its mortgage portfolio at round Rs 700 crore on the finish of September.
“The acquisition consolidates our presence in South India, and can assist us additional improve our penetration throughout our chosen geographies,” Centrum Group government chairman Jaspal Bindra was quoted as saying in an announcement issued by it.
“There’s a rising demand for reasonably priced housing in India, past metros and tier 1 cities too. Small cities are witnessing a better demand pushed by higher urbanisation, digitisation, higher infrastructure and connectivity,” Bindra mentioned.
Natrust is a Chennai based mostly reasonably priced housing finance firm with a presence in 17 places throughout 4 states in South India. Centrum Housing is current in 9 states — Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, Telangana, Karnataka, Rajasthan, Uttar Pradesh, Uttarakhand, Rajasthan; and in Delhi.
