Reliance Home Finance Limited (RHFL), established on June 5, 2008, is a housing finance company registered with the National Housing Bank. It offers home loans, affordable housing loans, loans against property, and construction finance. Initially a subsidiary of Reliance Capital Limited (RCap), RHFL became an associate of RCap in 2020 as RCap underwent Corporate Insolvency Resolution Process, with its stake reducing to 42.13% by March 2023.
RHFL experienced significant growth in Assets Under Management (AUM) and income in the fiscal years up to 2019, peaking at an AUM of Rs 18,868 crore. However, FY2020 saw a decline, with AUM dropping to Rs 14,713 crore. The company faced financial challenges leading to a standstill in debt servicing and entered into an Inter-Creditor Agreement to resolve its debt. RHFL has raised capital through commercial papers and non-convertible debentures (NCDs) over the years but is currently under financial restructuring due to its parent company's insolvency proceedings.
