Basic Home Loan: AI-Driven Growth and Future Ambitions

Fintech firm Basic Home Loan anticipates revenue growth up to Rs 150-200 crore due to AI tools and collaborations with real estate firms. Co-founder Atul Monga reveals plans for a public listing by 2030, with the company expanding geographically to reach new customers. Supported by major investors, it shows strong loan processing capabilities.

Fintech firm Basic Home Loan is projecting a significant revenue expansion to the tune of Rs 150-200 crore this fiscal year, propelled by advanced AI-driven tools and enhanced partnerships with real estate companies, according to CEO Atul Monga.

Monga disclosed intentions for a public listing by 2030 as the company seeks to broaden its reach across various regions to capture new customer segments. 'We are targeting Rs 150-200 crore in revenue, up from Rs 70 crore last year, thanks to the introduction of HOM-i and reinforced collaboration with the real estate sector,' he stated.

Since its inception in 2020, Basic Home Loan has focused on making mortgages more accessible for low to middle-income families in smaller cities. With AI analysis of customer and property profiles spearheading Rs 30,000 crore in loans, the company now boasts a presence in 650 districts, processing monthly loan applications worth Rs 8,500 crore.

(With inputs from agencies.)