Active Stocks
Thu Mar 28 2024 13:39:23
  1. Tata Steel share price
  2. 155.45 1.70%
  1. HDFC Bank share price
  2. 1,454.45 0.95%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
  1. ITC share price
  2. 429.05 0.25%
  1. State Bank Of India share price
  2. 755.05 2.86%
Business News/ Companies / News/  Dewan Housing aims to expand education loan business
BackBack

Dewan Housing aims to expand education loan business

Dewan Housing plans to focus on students going abroad for studies as these involve bigger amounts

Photo: Ramesh Pathania/ Mint (Ramesh Pathania/ Mint )Premium
Photo: Ramesh Pathania/ Mint
(Ramesh Pathania/ Mint )

New Delhi: Dewan Housing Finance Corporation Ltd (DHFL) is aiming to expand its education loan business by focusing on students going abroad for studies as these involve bigger amounts.

A student going abroad may take a loan of 15 lakh on average compared with a third of that amount for those studying in India, according to Neeraj Saxena, business head of Avanse Financial Services Pvt. Ltd, the education finance company promoted by DHFL. More than 150,000 Indian students go abroad every year for higher education.

“If I want to target business and build some portfolio, I need to think of study abroad," said Saxena.

Avanse, launched in February, will aim to get at least half its revenue from students seeking to study abroad, Saxena said in an interview. It expects to build an education loan portfolio of 5,000 crore in five years, he said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 29 May 2013, 11:39 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie