Altum Credo Home Finance: 10 Key Things You Must Know

Overview

Altum Credo Home Finance Private Limited is an innovative housing finance company based in Pune, India, dedicated to expanding affordable home ownership in urban-periphery and semi-urban regions. Founded in 2016, the company specifically targets the underserved and unserved segments, such as economically weaker sections and low- to medium-income groups, facilitating long-term housing finance where formal credit channels often fall short. Combining technology-driven processes with an extensive field presence, Altum Credo streamlines access to home loans, enabling thousands of first-time homeowners to realize their dreams. This article explores ten key facets of Altum Credo, unveiling its unique approach, rapid growth, and pivotal role in India’s affordable housing sector.

1. Origins and Founding Vision

Altum Credo Home Finance was established in 2016 by a team of seasoned professionals, including Vikrant Bhagwat (MD & CEO), Ganesh Rao, Ashish Tiwari, and Sanjay Tiwari. The name "Altum Credo" derives from Latin, where "Altum" means "Deep" and "Credo" means "I believe," symbolizing a deep-rooted belief in empowering underserved communities. The founders envisioned a housing finance company committed to addressing the vast unmet demand for affordable home loans among first-time buyers, primarily in India’s semi-urban and rural areas, where traditional banks have limited reach.

2. Specialized Focus on Underserved Markets

The company's primary distinction lies in its mission to provide housing loans to low-income and economically weaker sections (EWS) of society who have traditionally faced challenges obtaining credit. Altum Credo focuses on first-time homeowners in tier II and tier III cities, aiming to fill the financing gap in these markets. With a client base composed of salaried individuals (both formal and informal) and self-employed small and medium enterprise (SME) owners, Altum Credo tailors its offerings to suit diverse income profiles, helping promote inclusive housing finance.

3. Product Portfolio and Loan Offerings

Altum Credo offers a comprehensive suite of housing finance products:

Home Purchase Loans: For buying new or resale properties.
Home Improvement Loans: Targeted for refurbishment or renovation.
Home Loan Refinance: Providing better terms for existing home loans.
Self-Construction Home Loans: For customers constructing homes on independently owned land.
Balance Transfer Loans: Enables transferring existing loans to Altum Credo for better interest rates.
MSME Loans: Supporting micro, small, and medium enterprises with business capital.

Loan amounts range from ₹2 lakh to ₹40 lakh with repayment tenures generally spanning 5 to 20 years. The average loan size is approximately ₹8.5 lakh, suitable for affordable housing needs in the target market.

4. Technology-Driven Operations

A key strength of Altum Credo is its tech-first approach, embedding technology across the entire loan lifecycle—from application submission and document verification to approval and disbursal. The company provides a mobile app (HomeLoan Buddy) for customers to manage loan accounts, make EMI payments, track requests, and access documents digitally, ensuring convenience and transparency. Their automated credit appraisal and collection systems optimize operational efficiency, reduce turnaround times, and maintain high service quality.

5. Rapid Growth and Financial Metrics

Since receiving its housing finance license from the National Housing Bank (NHB) in 2017, Altum Credo has demonstrated impressive growth. Its assets under management (AUM) increased from ₹251 crore in 2022 to approximately ₹948 crore by March 2025, representing a compound annual growth rate exceeding 50%. In the fiscal year 2023-24, the company reported operating revenue of ₹118.76 crore and a net profit of about ₹19.98 crore, reflecting financial stability alongside expansion. With consistent equity infusions, healthy capitalization, and a gearing ratio under 1, Altum Credo remains well-positioned to scale sustainably.

6. Strategic Geographic Presence

Altum Credo currently operates in six Indian states: Maharashtra, Tamil Nadu, Karnataka, Rajasthan, Andhra Pradesh, and Telangana. It operates through 69 branches predominantly serving tier II and tier III cities. This geographic diversification spreads risk and allows the company to tap into multiple markets exhibiting high demand for affordable housing loans. The company continues to deepen its presence in these states to further support underserved customers.

7. Support from Impact Investors and Equity Infusions

Since inception, Altum Credo has successfully raised close to $80 million in funding over multiple rounds. Key investors include British International Investment (BII), Aavishkaar Capital, Amicus Capital, Z3Partners, and Oikocredit. The UK’s BII recently invested ₹170 crore (~$19.5 million) in August 2025 to strengthen Altum Credo’s balance sheet and fuel further expansion, particularly towards empowering women homebuyers and enhancing technological infrastructure. These investments reflect investor confidence in Altum Credo's business model and its social impact.

8. Social and Economic Impact

Altum Credo's focus on EWS and low-income groups substantially advances India's affordable housing goals. The loans facilitate safe, secure, and sanitation-compliant housing for first-time buyers, positively impacting living conditions. Additionally, many borrowers are women and self-employed individuals new to formal credit. By enabling access to affordable loans, Altum Credo fosters financial inclusion and supports job creation in construction and allied sectors, contributing to broader socioeconomic development.

9. Customer Experience and Reviews

Customer testimonials emphasize Altum Credo's simplified loan process and personalized service. Borrowers note the company’s willingness to work with informal salaried workers or self-employed borrowers, enabling financing where others have declined. Application processing is often described as quick and hassle-free. On employee review platforms, Altum Credo receives favorable notes on work culture, salary, and training, though some locations report mixed experiences, highlighting opportunities for continual improvement.

10. Challenges and Future Prospects

As a relatively young player with a focused niche, Altum Credo faces challenges such as portfolio seasoning, moderate asset quality pressures, and geographical concentration risks. Maintaining stable asset performance and expanding sustainably will be key as it scales. Investment in technology and operational resilience remains a priority. Looking ahead, Altum Credo aims to broaden its footprint, deepen penetration in existing markets, and leverage digital platforms to deliver affordable, tech-enabled housing finance solutions to India's growing urban-periphery population.

Conclusion

Altum Credo Home Finance exemplifies a modern, technology-enabled approach to affordable housing finance in India’s vast underserved markets. With a clear mission to serve low-income, first-time homebuyers via customized products and innovative underwriting, it has seen robust growth and growing investor backing. Through its strategic focus on inclusivity and digital operations, Altum Credo is contributing significantly to bridging the housing finance gap. As India’s affordable housing sector expands, Altum Credo’s continued evolution will be essential in transforming dreams of homeownership into reality for millions.