Sammaan Capital Limited was formerly known as Indiabulls Housing Finance Limited. The firm has recently published its Business Responsibility and Sustainability Report for the years 2023–24. It details the strategic approach of the company to responsible business practices, including its sustainability initiatives and commitment to ESG targets.
About Sammaan Capital
Sammaan Capital is one of India’s well-respected mortgage-backed loan financial services providers. The company is focused on having a business model of housing and non-housing loans. From the company’s financial statement as of March 2024, of its loan book, a housing loan constituted 38.81%, while the remaining 61.19% was a non-housing loan. Sammaan offers credit solutions to all sections of people with the highest accord of over 1.5 million customers, directing itself to offering economical credit solutions throughout India. It caters to all income groups, whether Economically Weaker Sections (EWS), low-income groups (LIG), middle-income groups (MIG), or high-income groups (HIG).
While the consolidated balance sheet stands at the size of ₹730.66 billion, one can find that the company has grown over time along with the financial boom. It has a presence in 22 states of India and in one overseas country, along with 199 offices to provide its services.
Key Points from BRSR:
It spotlights corporate responsibility aspects related to governance, customer satisfaction, and the contribution of Sammaan Capital toward priority sector lending. This report has put its focus on efforts by the company to maintain corporate governance standards in terms of customer-first initiatives and transparent operations.
About governance, Sammaan Capital has a board structure that boasts over 60% independent directors. The overall approach is accountability with responsible and ethical decision-making. The core values of Customer First, Transparency, Integrity, and Professionalism guide the governance framework of this company. Additionally, it maintains leading-edge information security and data privacy standards.
Sustainable Business Initiatives:
Here, one can observe how Sammaan Capital affirms its commitment to sustainability in terms of a focus on priority sector lending. It supports the government’s “Housing for All” initiative by providing affordable housing loans to urban residents, playing a key role in offering mortgage-based financing solutions that cater to the credit requirements of the micro, small, and medium enterprises, which are responsible for giving sizeable contributions to India’s GDP. Efforts like these help bridge the gap in housing, thus leading to economic and social growth in underprivileged areas.
On its part, Sammaan Capital ambitiously targets becoming carbon neutral by FY 2032. It also saves on environmental footprint with the eHome Loans technology, cutting branches and paper processes into insignificance. This has led to more efficient processes, low energy consumption, and environmental impacts.
Employee and Social Responsibility:
Samman Capital prioritizes the welfare of its employees, providing health and accident insurance coverage to all 4,358 employees. The company emphasizes diversity and inclusion; its female workforce is at 11 percent. The BRSR also indicates the company raised customer satisfaction from 95 percent to 100 percent by FY 2025, which provides an even further implementation of a customer-centric approach.
On the social front, Sammaan Capital practices CSR in the form of community development and empowerment through education and health care for the economically deprived.
Conclusion
The BRS of Sammaan Capital Limited for FY 2023-24 will be introduced with the assurance of sustaining growth with responsible business practices in addressing social challenges. Sammaan Capital stood ready in line to continue positive impacts on the housing finance sector and also on the overall economy through a clear ESG focus and transparency.
Source: BRSR
Credit: Sammaan Capital Limited