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              April 21, 2021

Subject: Indiabulls Housing Finance Ltd. ties up with HDFC Ltd. for Co-Lending Partnership

Indiabulls Housing Finance Limited (“IBH”) has entered into a strategic co-lending partnership with HDFC Ltd to offer housing loans to homebuyers at competitive rates.

Incorporated in 1977, HDFC Ltd is the market leader in the housing finance industry in India with assets under management of ₹ 5,52,167 Crore as at end of December 2020. HDFC Ltd is a gold- standard financial services company and is rated at the highest long term rating of AAA by CRISIL, ICRA and CARE Ratings. HDFC Ltd’s long track record and experience as India’s premier housing finance company has helped it build strict underwriting standards and risk management procedures.

IBH    will    originate    retail    home    loans    as    per     jointly    drawn    up    credit    policy and retain 20% of the loan in it's books and 80% will be on HDFC books. IBH will service the loan account throughout the life cycle of the loan. Co-lending partnership with HDFC Ltd will act as a cornerstone to IBH’s new balance-sheet light growth business model. Moreover, technology led co-lending will help IBH offer convenient and seamless experience to its customers as well as help expand its reach to Tier III and IV towns of the country.

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