About Niwas
Niwas Housing Finance Private Limited (Formerly known as IndoStar Home Finance Private Limited) (“NHFPL/ the Company”) is a company incorporated under the provision of Companies Act, 2013 and is registered as a non-deposit accepting housing finance company and Established in the year 2017. The Company is primarily engaged in providing affordable housing finance to salaried and self-employed individuals as well as loans against mortgage of property to customers in Tier 2 & 3 cities and those on the outskirts of urban markets. Its product offerings include loans for the purchase of completed residential properties, loans for the construction of homes on owned or acquired plots, and loans for the extension of existing residential properties, such as the addition of floors or rooms.
Mission
Help 1,50,000 families realize their dream of constructing & owning their own house by 2029 by providing tailor-made solutions which help them improve their standard of living through an ecosystem which is dynamic & scalable.
Vision
Create India’s biggest affordable housing ecosystem for low-income customers looking at constructing & financing their home in semi urban & rural India.
Our Values
Team Work
- Helping everyone achieve a common goal
- Individual talents in pursuit of a larger goal
- Proper communication between all depts to achieve common goal
Customer Centric
- Offer best solutions & delivering superior experiences
- Understanding requirement of customers & curating products accordingly - geography wise/state wise
Innovate
- Introduction of something new and effective into the market
- Privy to new developments and drive execution
Humble
- Display social charismatic behaviour at all times
- Being modest with all Customers, Colleagues & stakeholders
Integrity
- Doing right even when nobody's watching
- Steadfast adherence to a strict moral or ethical code
Credit Ratings
Instrument
Debt Programme
AA-/ Watch with developing implication 
CRISIL Limited
Instrument
Commercial Paper
A+/ Watch with developing implication
CRISIL Limited
Board of Directors
Vibhor Kumar Talreja
Non-Executive Director
Vibhor Kumar Talreja is a Non-Executive Director of Niwas. Mr. Talreja joined Everstone in 2019 as a Managing Director to lead the financial services sector along with other responsibilities. Prior to joining Everstone, he was working as a Director with Temasek India for over 12 years, where he led decision making on investments and divestments of over $2 billion each across both private and public transactions. Mr. Talreja has extensive experience in Financial Services, Industrial/Consumer, Real Estate & Telecom sectors and has worked with JM, Morgan Stanley and Tata Administrative Services. He is an alumnus of IIT Kanpur and IIM Bangalore.
Devdutt Marathe
Non-Executive Non-Independent Director
Mr. Devdutt Marathe is an investment professional with over thirteen years of experience in the Private Equity space. He is currently a Senior VP at Brookfield Asset Management focused on the Private Equity business in the India / Middle East region. Previously, Devdutt Marathe was a Principal at Apax Partners, where he led or participated in several transactions across financial services, healthcare and technology sectors. Devdutt Marathe holds B.Tech. and MS degrees in Electrical Engineering from IIT Madras and Caltech (USA) respectively, and a PGDM from IIM Ahmedabad.
Shreejit Menon
CEO
Shreejit Menon is the CEO of Niwas Housing Finance. He holds a Bachelor’s degree in Commerce and Master’s degree in Management Studies from University of Mumbai. He has several years of experience with financial institutions like Religare Housing Development Finance Corporation Limited, Muthoot Housing Finance Company Limited and HSBC Limited.
Naina Krishna Murthy
Non-Executive Independent Director
Naina Krishna Murthy is Non-Executive Independent Director of Niwas Housing Finance. She has more than two decades of experience in the legal sector. She is the Founder and Managing Partner of Krishnamurthy & Company. She is also a trusted legal advisor to numerous corporations. Over the years, Ms. Murthy has built a strong reputation in corporate commercial law, specifically in the areas of mergers and acquisitions, joint ventures, collaborations and PE/VC investments. She was recognised by India Business Law Journal as ‘A List’ of India’s top 100 lawyers in 2018, 2017 and 2016.
Management Team
Shreejit Menon
Chief Executive Officer
23+ Years of experience
Pushkar Joshi
Chief Financial Officer
14+ Years of Experience
Shripad Desai
Chief Operating Officer
25+ Years of Experience
Paulomi Desai
Chief People Officer
15+ Years of experience
Krishanu Ray
Chief Digital Officer
16+ Years of experience
Nidhi Sadani
Chief Compliance Officer
8+ Years of experience
Ashutosh Verma
National Collection Head
16+ Years of experience
Satish Mehta
Head - Operations
18+ Years of experience
Srikanth Balasubramanian
Head – Risk
25+ Years of experience
Yagnesh Vaidya
Head – IT Infrastructure & Information Security
25+ Years of Experience
Committee Composition
We are a professionally managed and institutionally owned organization.
Audit Committee
Mr. Shreejit Menon
CEO
Mr. Vibhor Kumar Talreja
Non-Executive Non-Independent Director
Ms. Naina Krishna Murthy
Non-Executive Independent Director
Mr. Devdutt Marathe
Non-Executive Non-Independent Director
Nomination & Remuneration Committee
Mr. Vibhor Kumar Talreja
Non-Executive Non-Independent Director
Ms. Naina Krishna Murthy
Non-Executive Independent Director
Mr. Devdutt Marathe
Non-Executive Non-Independent Director
Asset Liability Management Committee
Mr. Vibhor Kumar Talreja
Non-Executive Non-Independent Director
Mr. Shreejit Menon
CEO
Mr. Pushkar Joshi
Chief Financial Officer
Mr. Devdutt Marathe
Non-Executive Non-Independent Director
Risk Management Committee
Mr. Shreejit Menon
CEO
Mr. Vibhor Kumar Talreja
Non-Executive Non-Independent Director
Mr. Devdutt Marathe
Non-Executive Non-Independent Director
Mr. Srikanth Balasubramanian
Head-Credit
Mr. Krishanu Ray
Chief Digital Officer
Mr. Pushkar Joshi
Chief Financial Officer
Ms. Nidhi Sadani
Chief Compliance Officer
Corporate Social Responsibility Committee
Mr. Vibhor Kumar Talreja
Non-Executive Non-Independent Director
Ms. Naina Krishna Murthy
Non-Executive Independent Director
Mr. Devdutt Marathe
Non-Executive Non-Independent Director
Shareholder
IndoStar Capital Finance holds 100 percent equity.
CSR at Niwas
Corporate social responsibility is an integral part of our company culture. As a responsible corporation, we respect the interests of our Stakeholders-our shareholders, employees, customers, suppliers, teaming partners, and the wider community.
Also, we actively seek opportunities to improve the environment and contribute to the well-being of communities in which we operate. Our CSR initiative focuses mainly in the areas of sanitation, education and women empowerment through skilling and development.
AVASARA ACADEMY
Promoting Education
Through Avasara Academy, Niwas has contributed towards providing education to adolescent girls from economically weaker sections of the society. Based on the Cambridge curriculum, with an emphasis on leadership, entrepreneurship, and Indian studies, the Academy is equipping young women with essential tools to navigate life after school. Set up as a residential learning programme in Pune, the Academy continues to expand, introducing new facilities such as libraries and hostel accommodation. The students and their parents have changed their perception of receiving education; parents are now willing to send their kids to school to complete their schooling. The teaching techniques used here are more practical which prepares students for real life scenarios. The students get an equal opportunity to actively involve themselves in sports as they have access to the Oxford Golf ground in Pune.
Population
Empowering Women
This initiative promotes the economic empowerment of women through vermi-composting. Learning this skill equips members of villages with a life-long method of earning money while living a healthier life. Women have become more confident and have the ability to contribute towards household incomes, while also being further committed to developing their marketing skills to increase sales. Children in schools are learning the importance of hygiene and have become advocates for the construction of kitchen gardens and soak pits in their community.
Centre for Environmental Research and Education (CERE)
Sanitation
Under the Water Conservation and Rainwater Harvesting Project, conducted at the Ploice HQ in Naigaon, niwas contributed towards the augmentation of water for the police family of the region. This project has yield notable environmental and social outcomes:
- Harvesting 38.8 million litres of rain water every year.
- Increase in ground water table of the entire Naigon precinct area in Dadar.
- Recharge of defunct bore wells.
All the members of the police community have been enthusiastically involved in this project, being actively involved in CERE to complete it on time. The families were trained on the usage and saving of water, thus, helping a deserving section of society that is usually ignored.
Customer testimonials
Hear from our customers
about their stories of delight
Today I am a proud owner of a house in a city like Hyderabad, all thanks to Niwas, who supported us in constructing our home. We were guided throughout the loan process and all our queries were solved within no time. Extremely happy with the hospitality and the spontaneous response received from Niwas representatives!
G Nitin Kumar
Hyderabad
This is my first house and it is a great feeling to own a house. It is a big achievement for me. We are happy to get a loan from Niwas at the right time; the team has been cooperative and flexible in their service. I’ll surely refer Niwas to my friends and family.
Raji K.
Kanchipuram
I had applied at many places but they took more time to even indicate loan sanction. Wherein, Niwas gave commitment at the time of discussion and stood by that. We are very happy with the service provided by Niwas.
Marimuthu J.
Tiruppur
Buying our first home is like achieving a milestone for us. We had approached other companies for loan but we didn’t receive a good response. Niwas on the other hand was very helpful and has been fair, transparent in all their processes. They also informed us about PMAY scheme and we have enrolled for the same. They are the right finance partner for individuals who aspires to buy home.