Summary:

According to CareEdge Ratings, India's home finance industry, currently valued at Rs. 33,00,000 crore (US$ 379.7 billion), is projected to grow at a 15-16% CAGR, reaching Rs. 77,00,000-81,00,000 crore (US$ 886.1-932.3 billion) by 2029-30. This growth is driven by strong fundamentals and government incentives. Since 2019, the residential property market has expanded by 74%, with banks holding a 74.5% share of the home loan market.

In FY24, HFCs' loan portfolios grew by 13.2% to Rs. 9,60,000 crore (US$ 110.5 billion), aligning with CareEdge's 12-14% growth forecast. The industry is expected to expand by 12.7% and 13.5% YoY in FY25 and FY26, respectively, supported by strong equity inflows and capital reserves. Improved asset quality, with GNPA declining to 2.2% by March 2024, further strengthens long-term growth prospects.

Source: IBEF 

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