Motilal Oswal Financial ServicesAppoints New CEO for Aspire Home Finance Corporation Limited

Mumbai,17 September 2018:  MotilalOswal Financial Services Limited (MOFSL) today announced the appointmentof Mr. Sanjay Athalye as the new ManagingDirector and Chief Executive Officer of its housing finance company Aspire Home Finance CorporationLimited (AHFCL). Mr. Athalye will be responsible for drivingbroad-based strategy, strengthening operations and scaling the business up.                

Mr.Athalye has almost three decades of extensive and diverse experience in theBFSI domain, in the fields of retail banking, commercial finance, riskmanagement and portfolio quality. Prior to joining AHFCL, he has worked with IndostarCapital Finance Ltd. as Chief Risk Officer. In addition to this, he haspreviously worked in several leadership roles with Reliance Capital Limited,Centurion Bank of Punjab Limited, IDBI Bank Limited, ICICI Bank Limited, RelianceTelecom Limited and Modi Xerox. He holds a master’s degree in commerce fromNagpur University.

AHFCL’sstrategy is aligned with the government's initiative of "Housing forAll" and the company works on the business philosophy of financialinclusion of Lower and Middle Income (LMI) Indian families byproviding them an access to long-term housing finance.

Asof Q1FY19, the company loan book grew to Rs. 48 bn with an average ticket sizeof Rs.8.5 lakhs with loan extend to more than 57,000 families.

Thefirm has serviced more than 60,000 Indian families and has a presence in125 locations across 9 states, Maharashtra, Madhya Pradesh, Chhattisgarh,Gujarat, Rajasthan, Andhra Pradesh, Telangana, Karnataka & Tamil Nadu andhas a staff strength of around 1200+ employees.

Speakingon the appointment, Mr. Motilal Oswal- CMD, MOFSL said, "I am happy to announce theappointment of Mr. Athalye as the MD & CEO of our fast-growing Housing Financebusiness. We are certain that the momentum of growth in affordable housing willcontinue. Today, housing finance is one of the major contributors to India’seconomy and increasing thrust by the central Government in affordable housingspace augurs well for the sector. Our rich understanding from ~57,000 liveaccounts has shaped the credit policy and will ensure higher quality sourcingof incremental loans. We are confident that Mr. Athalye’s expertise in thissector would help us strengthen our market position and expand our footprint inIndia.”

Onbeing appointed as the MD & CEO of AHFCL, Mr. Sanjay Athalye said, “I am honored to join the MOFSL Group.My task is to accelerate the current growth rate and maintain excellentportfolio quality. We endeavor to provide innovative home loan solutions tomeet the diverse needs of our customers by continuing to invest in technology,people and processes to give the best in class experience to our customersthroughout the loan lifecycle. Our objective is to make the loan process hasslefree and go beyond the traditional role of a lender byproviding value-added services to these customers.”

AboutAspire Home Finance Corporation Limited:

Aspire HomeFinance Corporation Limited (AHFCL), a subsidiary of Motilal OswalSecurities Limited (MOSL) which is a part of Motilal Oswal Financial ServicesLimited (MOFSL), is a professionally managed housing finance company runby highly experienced housing finance professionals. Aspire works onthe business philosophy of financial inclusion of Lower and Middle Income (LMI)Indian families by providing them access to long term housingfinance.

Aspire wasincorporated in October 2013 and commenced its business operations in June2014. Since then over the last 48 months, Aspire has serviced more than60,000 Indian families. AHFCL has presence across 129 locationsacross 9 states, Maharashtra, Madhya Pradesh, Chhattisgarh, Gujarat, Rajasthan,Andhra Pradesh, Telangana, Karnataka & Tamil Nadu and has a staff strengthof around 1300+ employees.

Categorizedas a Primary Lending Institution (PLI) under Pradhan Mantri Awas Yojana, aflagship scheme of Government of India, AHFCL has received as many as8 awards till date in different categories in housing finance, atestimony of appreciation from industry stakeholders.  AHFCL has beenrated “CRISIL A+/Stable” and “[ICRA] A+(Stable)” by ICRA for longterm borrowings and “ICRA A1+” by ICRA for shortterm borrowings.

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