Mumbai, Apr 26 (PTI) Pune-headquartered Bajaj Housing Finance Ltd on Tuesday said it has received Rs 2,500 crore of equity capital from Bajaj Finance, its parent company.

The capital, which was received on April 7, is the seventh and the largest round of capital infusion so far by Bajaj Finance to fund the housing finance company's future growth, according to a release.

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"This infusion will be sufficient to meet our capital requirements for the next 18–24 months. The company remains committed to continue its momentum, and this infusion would enable it to expand its geo footprint as well as its distribution network across its business lines for growth," Bajaj Housing Finance's Chief Executive Officer Atul Jain said.

As of March 31, 2022, the mortgage financier's capital adequacy ratio (CRAR) stood at 19.72 per cent against a regulatory requirement of 15 per cent. With this round of capital infusion, its CRAR will be in excess of 27 per cent, the release said.

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Its capital base stands strong in excess of Rs 9,200 crore.

This round of capital infusion is pegged to ensure the company continues to maintain its growth trajectory by providing equity capital on one hand as well as raising debt for growth on the other, it said.

The company plans to invest in people, geo-expansion, process improvement, and technology to help deliver its growth plans.

The housing finance company offers finance to individuals and corporate entities for the purchase and renovation of homes, or commercial spaces.

It also provides loans against property for business or personal needs as well as working capital for business expansion purposes. It also offers financing to builders and developers engaged in the construction of homes.

It ended fiscal 2022 with Assets Under Management (AUM) of Rs 53,322 crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)