Description : Housing is the one of the basic needs for every human being, with Food, Clothing and Education being the other three. Housing is an important component and a measure of socio–economic status of the people. It is regarded as a critical sector in terms of policy initiatives and interventions. The relevance of housing as a social need has been long recognized, and this has influenced the innovations and inventions made by mankind, since the Stone Ages.
Housing being the one of the essential needs of mankind, the demand for shelter grows in line with the increase in population and the standard of living, hence the need of financing the purchasing of a House came up. The importance of the housing sector can be judged by the fact that we consider house as the best investment and want to invest our hard earned money or saving in a house. The need for Finance to purchase a house brought out specialized Housing Finance Institutions. The Housing Finance Companies (HFCs) as they are called today, have stepped up their lending over the years contributing to the growth of the housing sector. Their strength lies in their skills in lending exclusively for housing sector. Such is the background of GIC Housing Finance Ltd (GICHFL).
Contact Address
GIC Housing Finance Limited, was incorporated as 'GIC Grih Vitta Limited' on 12th December 1989. The name was changed to its present name vide a fresh Certificate of Incorporation issued on 16th November 1993. The Company was formed with the objective of entering in the field of direct lending to individuals and other corporates to accelerate the housing activities in India. The primary business of GICHFL is granting housing loans to individuals and to persons/entities engaged in construction of houses/flats for residential purposes. The Company carried a vision for the future of Housing in India. And it is always believed at GICHFL that its success and growth depends on its principles which are ;
To be a prominent Corporate Citizen in promoting housing activities through customer friendly finance schemes with in a service oriented atmosphere.
To consolidate and grow in a competitive environment reflecting the ethical standard of a good corporate citizen.
To create Wealth and Reward Share holders
The Company was promoted by General Insurance Corporation of India and its erstwhile subsidiaries namely, National Insurance Company Limited, The New India Assurance Company Limited, The Oriental Insurance Company Limited and United India Insurance Company Limited together with UTI, ICICI, IFCI, HDFC and SBI, all of them contributing to the initial share capital.
GICHFL has presence in 23 locations across the country for business. It has got a strong marketing team, which is further assisted by Sales Associates(SAs). It has tie-ups with builders to provide finance to individual borrowers. It also has tie-ups with corporates for various housing finance needs.
Major Events in the Company's
Year Event
1989 Company was incorporated with the name "GIC Grih Vitta Limited".
1989-91 The Company started its operations from 8 locations.
1991-92 The Company launched Employee and Builder Scheme Housing Scheme.
1992-93 Company's name changed to "GIC Housing Finance Limited". Apna Ghar Yojana was introduced by the Company.
1993-94 The Company made a rights issue of 1:1; the capital crossed the Rs. 10 crores mark.
1994-95 The company made its maiden IPO and mobilized additional capital of Rs. 40 crores.
1996-97 The Company started the process of computerization.
2003-04 The Company recorded an above industry growth rate of over 40% in loan approvals, disbursements and profitability. As a result the Company has crossed Rs. 500 crores annual business in individual housing loan and the total portfolio has crossed Rs. 1000 crores.
2004-05 The company recorded an above industry growth rate of over 40% in loan approvals, disbursements and profitability. Rights Issue of 89,75,561 Equity Shares at Rs. 16 in the ratio of 1 equity share for every 2 shares held. Paid -up capital grew to Rs. 26.93 crores.
2005-06 Focus on consolidation of NPA and profitability.
2006-07 Rights Issue of shares at Rs. 40 in the ratio of 1 equity share for every 1 share held.
BOARD OF DIRECTORS
Mr. Yogesh Lohiya - Chairman: Mr. Yogesh Lohiya is the Chairman cum Managing Director of General Insurance Corporation of India.
Mr. Yogesh Lohiya is a mechanical engineering graduate and an Associate of the Insurance Institute of India. He also holds a post-graduate diploma in management from the All India Management Association (AIMA).
Mr. Lohiya had a short stint in the manufacturing industry before joining the Insurance Industry as a direct recruit officer in The Oriental Insurance Company Ltd. in 1977.
During his stay in Oriental spanning over three decades Mr. Lohiya handled various technical departments including Fire, Engineering, Reinsurance Treaty, Foreign Operation, Marine, Aviation, etc. He also provided his expertise to the company's offices in India and abroad on technical matters.
He has served as member on various professional committees. These include:
Insurance & Pension Committee of Federation of Indian Chambers of Commerce & Industry
Study Group on Insurance of PHD Chamber of Commerce & Industry
Chairman of Management Committee of Catastrophe Pool (Developing the Pool in association with G.I.C. under the instruction of IRDA)
Member of Terrorism Pool
Member of Sub committee of Tariff Advisory Committee on Engineering & Petrochemical Insurances
He is also the Co-chairman of Insurance Committee of Indian Merchants Chamber, Mumbai. Mr. Lohiya is also a visiting faculty at several institutes of higher learning which include:-
Power Management Institute of NTPC
National Insurance Academy
IIT Delhi & Kanpur
Training Colleges of the public sector general insurance companies
A prolific writer, Mr. Lohiya has authored several books on various issues related to the Insurance sector. He has also presented papers on a variety of subjects ranging from Risk Management in Chemical Industry, Customer Service in Insurance Industry and Indian Public Sector - A Success Story in Seminars in India and abroad. Several of these have also been awarded.
Mr. Lohiya prepared a Report on Catastrophe Risk in India for the Ministry of Finance and an Engineering Insurance Manual for The Oriental Insurance Company Ltd. The manual was later adopted by Tariff Advisory Committee.
Mr. B. Chakrabarti: As the Chairman-cum-Managing Director of National Insurance Company Limited, Mr Chakrabarti has been an Additional Director of the Company since 19th January, 2005. He started his career in the year 1974 as a Technical Officer of United India Insurance Company Limited. With a B.Com (Hons) from Calcutta University and a Chartered Accountant’s qualification from the Institute of Chartered Accountants of India. He has technical proficiency in general insurance subjects as he joined the industry as a Technical Officer. On successive promotions, he has had marketing and business development profiles, being the heads of divisions and regions in United India Insurance Company Limited. He had a wide exposure in the Management of Investment portfolio in GIC as Assistant General Manager and General Manager. He has headed the personnel and human resources wing in United India Insurance Company Limited as a General Manager. During his tenure as General Manager (Personnel), he galvanized the activities of the Learning Center, M.S.D and H.R.D. He was the Chief Vigilance Officer and had a brief stint in the Marketing and Reinsurance Department in United India Insurance Company Limited.
Mr. M. Ramadoss: As Chairman-cum-Managing Director of Oriental Insurance Company Limited, he has been an Additional Director of the Company w.e.f 10th March, 2005. Mr. Ramadoss is a First Class Commerce Graduate from Madras University and a Chartered Accountant from the Institute of Chartered Accountants of India. He is also a Fellow of Insurance Institute of India and an Associate of Chartered Insurance Institute of U. K. He joined the Insurance Industry in 1976 as direct recruit Class I Officer in New India Assurance Company Limited and has worked in various positions. In 2001, he was promoted as General Manager and posted to London branch for 3 years. He returned to India and joined Head Office in mid November 2004. He has a unique experience of having worked in the Insurance Industry in different parts of the country. Besides working in the Insurance Industry, he is also a visiting faculty in National Insurance Academy, Pune. He regularly takes classes in Company Training Colleges. He has also written articles in magazines and he is a member of a Working Group constituted by the Institute of Chartered Accountants of India to finalize Accounting Guidelines for General Insurance Companies.
Mr. Ramasaamy: Mr. Ramasaamy took over charge as a Director of the company on December 26, 2005. He is a Chartered Accountant by qualification, and was recruited as Direct Recruit Officer in 1976 in National Insurance Company Limited and after serving in Investment Department for 9 years was promoted to the cadre of Assistant Manager and posted to Regional Office, Chennai. He was posted as Senior Divisional Officer in Delhi and as Manager in Ludhiana. Subsequently he was posted as Regional Manager at Regional Office Madurai and then as Assistant General Manager at Bangalore office for nearly 2 years. He got promoted as General Manager in 2002 and was allocated the portfolios like Technical Department, Foreign Business, MSD and Grievance Departments
Mr. N. R. Ranganathan: is an alumnus of the Presidency College, Madras, Law College, Madras and the London School of Economics. He joined the Indian Administrative Services in 1960 and held many important positions. He was Secretary (Personnel) to Government of India and Member Secretary of the Planning Commission, Government of India.
Mr. M. K. Tandon: Took over as Director of the Company w.e.f. 2nd September 1999. He is M. Com, LLB, Associate Part I (Insurance Institute of India). He started his career in insurance industry in 1964. He has immense knowledge and experience in insurance industry especially human resources for the past four decades. He was the Managing Director of General Insurance Corporation of India during the period between the 04th March 1999 to 04th March 2001. He has also discharged his services as the Chairman-Cum-Managing Director of National Insurance Co. Ltd. between 05th March 2001 to 30th September 2001.
Mr. Atul Kumar Rai: Director (IF), Government of India, Ministry of Finance, Banking Division, New Delhi.
Shri Atul Kumar Rai belongs to Indian Economic Service and is B.A. ( hons. ) Economics from University of Delhi and holds postgraduate qualification in Economics from Jawahar Lal Nehru University. Shri Rai has rich experience of over 20 years and held various posts in the Government of India, Including as Director in DDA. He is also presently on the Board of Directors of Vijaya Bank ,IIBI and Haldia Petrochemicals.
Mr. Manu Chadha: has been a Director of the Company since the 29th April 2002. His academic qualifications include B.Com (Hons), FCA, LLB and is a practicing Chartered Accountant since 1979 and is a Senior Partner with M/s. T R Chadha & Co, Chartered Accountants. He is also on the Board of Dena Bank, SBI Mutual Fund and other body corporate. The Government of India has nominated him on the Investor Education and Protection Fund.
Mr. Arun Datta: He has been a Director of the company since October 24, 2005. He holds a Bachelor Degree in Mechanical Engineering, along with post-graduate degree in Marketing. He has extensive experience in retail and institutional sales, Corporate Business Development, project management and administration. He has been involved in managing large sales organization with responsibility for brand management, distributions networks and logistics. He has also assisted top executive in strategic decision making as well as day-to-day administration.
Mr.R.Chandrasekaran: A commerce graduate from the University of Madras started his career as a banker and early in his career switched over to the General Insurance industry in 1978.
Today with nearly three decades of experience in General Insurance and Reinsurance he holds the post of General Manager with GIC Re. A versatile personality, Mr. Chandrasekaran has handled almost all departments in the General Insurance Corporation and has been instrumental in many far-reaching decisions in the Corporation. He currently holds charge of Reinsurance Operations-Underwriting, Technical Accounts & Claims, Marketing, R & D and New Ventures, Information Technology Management, Corporate Communications & Client Relationship Management.
He has made major contributions in the areas of Reinsurance Underwriting, Management Services & Computerisation and Aviation Insurance and Reinsurance. He was Manager- In Charge of the Aviation Insurance Department in the Corporation for 5 years and during this period the Corporation scaled new heights in this sector. Mr. Chandrasekaran initiated the computerization process in the Corporation in the early eighties. Currently under his guidance and close supervision SAP-Enterprise Resource Planning software has been introduced in GIC Re. Prior to his posting as General Manager in the corporate office of the Corporation in Mumbai, Mr. Chandrasekaran was Assistant General Manager In-charge of the London office of the Corporation.
Mr. Chandrasekaran has several academic qualifications under his belt and these include Fellow of Insurance Institute of India, Associate of Institute of Risk Management, London, Associate of Chartered Insurance Institute, London and Certified Associate of Indian Institute of Bankers, Mumbai. Mr. Chandrasekaran has been instrumental in giving a new direction to the Corporation’s Reinsurance programme, especially when, with the opening up of the insurance sector for the private players, the competition is hotting up in the sector.
MANAGEMENT
Mr. M. Sivaraman, CA,CS - Chief Executive
Mr. Rajib De, CA - Vice President
Mr. S. Shridharan, CS, CA, ICWAI- Asst. Vice President & Company Secretary
Mr. S. Mahishi, BE(CIVIL) - Asst. Vice President
Mr. Mahesh Ghagre, CA - Asst. Vice President
Mrs. Meena Vasudevan, BA - Asst. Vice President
Contact Address
- GIC HOUSING FINANCE LTD.
Corporate Office Address :
3rd floor, Universal Insurance Building,
Sir PM Road, Fort, Mumbai 400001. INDIA
Tel : +91 22 2285 1765 / 1766 / 1767
Fax : +91 22 22884985
Email : corporate@gichf.com
- GIC HOUSING FINANCE LTD.
Mumbai Area Office
2nd Floor, Universal Insurance Building,
Sir P.M. Road, Fort,
Mumbai 400001.
Tel : +91 22 2288 0801
Fax : +91 22 22884985
Email : mumbai@gichfindia.com
- GIC HOUSING FINANCE LTD.
Navi Mumbai Area Office
107/108, Arenja Corner,
Plot No 71, Sector 17,
Vashi, Navi Mumbai 400703
Tel : +91 22 27650890 / 91 / 27891181
Fax : +91 22 27657623
Email : navimum@gichfindia.com
- GIC HOUSING FINANCE LTD.
Thane Area Office
Satya-Ashish Building,
1st Floor, Ram Murthy Road Extn.,
Thane West –400 602
Tel : +91 22 25401958 / 25385197 / 25390749
Email : thane@gichfindia.com
- GIC HOUSING FINANCE LTD.
Panvel Branch Office
Prajapati House, Plot No.13,
Sector 19, Panvel Matheran Road,
New Panvel (E)
Tel : +91 22 32986828
Email : panvel@gichfindia.com
- GIC HOUSING FINANCE LTD.
Panaji Area Office
B-202, 2nd Floor, ‘B’ Block,
Akash Bhavan, 18th June Road ,
Panaji 403001
Tel: +91 95832 2232096 / 2421977
Fax : +91 95832 2432779
Email : panaji@gichfindia.com
- GIC HOUSING FINANCE LTD.
Chinchwad Branch Office
Orient Chambers, Opp KSB Pumps Ltd.,
Mumbai Pune Road,
Pimpri, Chinchwad
Tel: +91 9520 27423284
Email : chinchwad@gichfindia.com
- GIC HOUSING FINANCE LTD.
Pune Area Office
Neelkanth, C.T.S. No. 1018,F.P. No. 370,
Deep Banglow Chowk,
Model Colony,
Shivaji Nagar,
Bhamburda, Pune – 411016
Tel: +91 9520 5671230
Fax : +91 9520 5659730
Email : pune@gichfindia.com
- GIC HOUSING FINANCE LTD.
Bangalore Area Office
Leo Shopping Centre,
3rd Floor, 44/45,
Residency Cross Road,
Bangalore –560 025
Tel: +91 80 25594081 / 25550203 / 25583547
Fax : +91 80 25583549
Email : bangalore@gichfindia.com
- GIC HOUSING FINANCE LTD.
Hyderabad Area Office
United India Insurance Bldg,
PB No. 1020, 3-5-817 & 818
Basheer Baug,
Hyderabad 500 029
Tel: +91 40 23234093 / 23243310
Fax : +91 40 23243310
Email : hyderabad@gichfindia.com
- GIC HOUSING FINANCE LTD.
Coimbatore Branch Office
1st Floor, 1044, Cross Cut Road,
Gandhipuram,
Coimbatore 641012
Tel: +91 422 2490927
Fax : +91 422 2495790
Email : coimbatore@gichfindia.com
- GIC HOUSING FINANCE LTD.
Chennai Area Office
"Ramaniyam" Ist Floor, 216 & 217,
Peters Road, Royapettah, Chennai - 14
Tel: +91 44 2848 0284 / 2848 2640
Fax : +91 44 2847071
Email : chennai@gichfindia.com
- GIC HOUSING FINANCE LTD.
Kochi Branch Office
1st Floor, H.No. 1156/B,
Manchu Towers, T.D. Road,
Kochi 682011
Tel: +91 484 2364885 / 2374844
Fax : +91 484 2364884
Email : kochi@gichfindia.com
- GIC HOUSING FINANCE LTD.
Trivandrum Area Office
1st Floor, P.T.C. Tower S S Kovil Road,
Thampanoor,
Thiruvananthapuram – 695001
Tel: +91 471 2330272 / 2444041
Fax : +91 471 2332068
Email : trivandrum@gichfindia.com
- GIC HOUSING FINANCE LTD.
Vishakhapatnam Branch Office
306, 307, IIIrd Floor,
Sai Shopping Centre, 47-14-1,
Dwarka Nagar,
Visakhapatnam – 695001
Tel: +91 891 2541639 / 3097717
Fax : +91 891 2541639
Email : vizag@gichfindia.com
- GIC HOUSING FINANCE LTD.
Madurai Branch Office
A.R. Plaza, At Door No. 16/17,
Northveli Street,
Madurai – 625001
Tel: +91 452 2350269 / 5372781
Email : madurai@gichfindia.com
- GIC HOUSING FINANCE LTD.
Trichy Branch Office
11-C, Afcon Residency ,
Sastri Road, Thillai Nagar,
Trichy – 620018
Tel: +91 431 2743216 / 2742752
Email : trichy@gichfindia.com
- GIC HOUSING FINANCE LTD.
Bhubaneshwar Branch Office
Room No 9, 3rd Floor,
Janapath Towers,
Ashok Nagar,
Bhubaneshwar
Tel: +91 674 2533050
Email : bhubaneshwar@gichfindia.com
- GIC HOUSING FINANCE LTD.
Kolkata Area Office
Shantinekatan, 2nd Floor,
Room No. 4,8, Camac Street,
Kolkata – 700017
Tel: +91 33 22822104
Fax : +91 33 22822913 / 22824705
Email : kolkata@gichfindia.com
- GIC HOUSING FINANCE LTD.
New Delhi Area Office
Vandan Building, 9th Floor,
Connaught Place,
11-Tolstroy Marg,
New Delhi – 110 001
Tel: +91 11 23731669 / 23327548 / 51522024 / 25
Fax : +91 11 23356430
Email : delhi@gichfindia.com
- GIC HOUSING FINANCE LTD.
Noida Branch Office
B-104,Vishal Chambers,
Sector – 18,
Noida, UP
Tel: +91 12 2514145 / 2511751
Fax : +91 120 2514145
Email : noida@gichfindia.com
- GIC HOUSING FINANCE LTD.
Jaipur Branch Office
Room No 138,
1st Floor, Ganapati Plaza,
Near Govt Hostel,
Jaipur – 30200
Tel: +91 141 5106702
Email : jaipur@gichfindia.com
- GIC HOUSING FINANCE LTD.
Chandigarh Branch Office
SCO – No 16, Sector 26,
Chandigarh – 160017
Tel: +91 172 2727033
Email : chandigarh@gichfindia.com
- GIC HOUSING FINANCE LTD.
Lucknow Branch Office
Flat No. 201,
Radha Krishna Bhawan,
3/A-5 Park Road,
Lucknow 266011
Tel: +91 522 2238448
Fax : +91 22 2237358
Email : lucknow@gichfindia.com
- GIC HOUSING FINANCE LTD.
Virar Branch Office
Shree Siddhi Manora Building
1st Floor, Opp. Vijaya Bank,
Near Petrol Pump,
Agashi Road,
Virar (W)
Tel: +91 250 2505222
Email: virar@gichfindia.com
