Key Takeaways - Vinod Kotharivinodkothari.com/wp-content/uploads/2018/09/Key-Takeaways-final.pdfMr....
12
Key Takeaways
Transcript of Key Takeaways - Vinod Kotharivinodkothari.com/wp-content/uploads/2018/09/Key-Takeaways-final.pdfMr....
Key Takeaways
Welcome Address Mr. Vishes Kothari Strategic Consultant - Vinod Kothari Consultants P. Ltd.
Key Note AddressBy Mr. R. V. Verma
Former CMD, National Housing Bank
Chief Guest AddressBy Mr. S. S. MundraFormer Deputy Governor, Reserve Bank of India
Launch of India Housing Finance Report, 2018
Session 1: Overview of housing finance markets
In terms of the performance of the market, as at the end of FY 18 the market stood at Rs. 16.7 trillion
The market grew by 16-17% during the year and it is expected to grow at 17-19% during the next two years
The mortgage penetration has increased from 7% to 10%
However, in comparison to the peers, there is a long way to go for the country
The growth of affordable housing finance segment is higher
Currently, the affordable housing finance market is banking on the government schemes to grow, there is a need for a change in the trend
The movement should be from “Government provided housing to Market provided housing”
In terms of representations
Housing finance could be made an agenda for the FSDC
Housing must be synchronised with the urbanisation reforms
Speakers:
Mr. R. V. Verma
Former CMD, National Housing Bank
[Chairperson]
Mr Shankar Arumugham
Chief Operating Officer, Strategic Consulting – India
& Sri Lanka JLL
[Moderator]
Mr Srinivas Acharya
Managing Director, Sundaram BNP Paribas Home
Finance Limited
Mr Amber Malhotra
Managing Partner- Sam Circle Venture & Director-
Henry Ford Innovations.
Mr Nilesh Srivastava
Manager - Financial Institutions Portfolio South
Asia, International Finance Corporation
Session 2: Regulatory and taxationaspects of housing and housing finance
RERA as a piece of legislation is not just restricted to home buyers, the housing lenders can also proceed under it
One year after the introduction of GST, things have started settling down
Currently, the FAQs on financial services state that the GST shall be charged on prepayment charges.
With respect to implementation of Ind AS – NHB’s circular is very clear that the books for regulatory reporting and accounting books must be kept separate
This makes the situation clear for the HFCs, however, a clarification has been sought from the NHB on impact of Ind AS on the capital computation
GST, NHB regulations, Ind AS together leads to creation of multiple books of accounts for HFCs
Speakers:
Mr. Vinod Kothari
Director, Vinod Kothari Consultants P. Ltd
[Moderator]
Mr. Subhankar Mitra
Head – West India, Strategic Consulting JLL India
Mr. Shrenik Baid
Partner, Deloitte Haskins and Sells LLP
Ms. Divya Malcolm
Principal Associate, Kochhar & Co.
CA Jayesh Gupta
Director, JPNR Corporate Consultants Pvt Ltd.
Session 3: Financing for housing andaffordable housing finance In terms of funding sources, it is important to have a mix of funding
products
In terms of ALM, the HFCs are better managed in the short term,
however, long term mismatches continue
For equity funding, the investors are currently giving more
importance to managerial capabilities of the HFCs, their systems or
the quality of their book over the expected ROE
In terms of products, currently, though there are fixed rate products
in the market, however, there are no takers in the middle or higher
segment
However, there are takers in the informal income segment
NHB’s proposal to offer PCG to bonds issued by HFCs has also
welcomed by the industry
Speakers:
Mr. K. V. Srinivasan
Director & CEO, Profectus Capital
[Moderator]
Mr. V. S. Rangan
Executive Director, Housing Development Finance
Corporation Limited
Mr. Manish Jaiswal
Managing Director, Magma Housing Finance Limited
Mr. Shameek Ray
Head Debt - Capital Markets, ICICI Securities
Primary Dealership Ltd.
Mr. Ashutosh Sharma
Founder & Managing Director, Ummeed Housing
Finance Pvt. Ltd.
Mr. Abhijit Ray
Managing Director, Unitus Capital
Session 4: Alternative Financing Solutions
There is a strong likelihood that the AHFCs can leverage on the policy
initiatives to promote green financing in the country.
Securitisation of mortgage loans as compared to the overall market is
pretty small. Though there is a lot of potential, however, the same have
not been achieved yet
In terms of the credit enhancements, arrangers also play an important
role these days as they also end up providing a fund based or non
fund based support that improves the rating of the senior most tranche
Covered bonds – while a regulatory recognition may change the
situation, however, there are still certain structural issues which require
clarity
In terms of innovative sources of funding for AHFCs –
Covered Bonds
PCE Bonds
Securitisation with mortgage guarantee
Speakers:
Mr. Vinod Kothari
Director
Vinod Kothari Consultants P. Ltd.
[Moderator]
Mr. Kalpesh Gada
Consultant Structured Finance
Ms. Remika Agarwal
Director and Head, Structured Finance , Northern Arc
Capital
Mr. Sandeep Singh
Senior Director & Head – Structured Finance India
Ratings & Research – A Fitch group
Company
Mr. Sandeep Bhattacharya
India Project Manager, Climate Bond Initiative
Contact the Organisers
Vinod Kothari Consultants P. Ltd.
Kolkata Mumbai New Delhi
1006 – 1009, Krishna
224, AJC Bose Road
Kolkata – 700 017
403-406, 175, Shreyas Chambers
D N Road, Fort
Mumbai – 400 001
A/11 Hauz Khas
New Delhi – 110 016
Phone: +91 33 2281 7715/ 3742 |
+91 33 4001 0157
Phone: +91 22 6237 0959 Phone: +91 11 4131 5340
Email: [email protected] Email: [email protected] Email: [email protected]
www.vinodkothari.com
