Home First Finance Company India Limited (HFFCIL) has officially announced the departure of Ms. Vilasini Subramanian, a key member of its senior management team. The company disclosed this information in a regulatory filing to the stock exchanges on November 14, 2025.

Management Change Details

Ms. Subramanian, who held the position of Head-Strategic Alliances and was designated as Senior Management Personnel, has vacated her office effective November 14, 2025. The departure comes following her resignation, which was attributed to personal reasons.

Timeline of Events

To provide a clear picture of the sequence of events, here's a breakdown of the key dates:

Impact on Company Structure

The departure of Ms. Subramanian affects the company's senior management structure, as she was responsible for strategic alliances within the organization. This change may have implications for HFFCIL's strategic partnerships and collaborations going forward.

Regulatory Compliance

HFFCIL has adhered to regulatory requirements by promptly informing the stock exchanges about this management change. The company's disclosure aligns with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, which mandates the timely reporting of such material events.

Company's Statement

In its regulatory filing, HFFCIL stated, "Ms. Vilasini Subramaniam has vacated her office as Head – Strategic Alliances of the Company on the close of business hours today, i.e., November 14, 2025."

The announcement was officially communicated by Mr. Shreyans Bachhawat, Company Secretary, Compliance Officer and Head – Legal of Home First Finance Company India Limited.

Investors and stakeholders of HFFCIL will likely be watching closely to see how the company addresses this change in its senior management team and any potential impact on its strategic direction.

Home First Finance Company India Limited, a prominent player in the affordable housing finance sector, reported a robust 26.3% year-on-year growth in Assets Under Management (AUM) to Rs. 14,178.00 crores for the quarter ended September 30, 2025. The company's performance showcased resilience amid challenges in specific markets and industries.

Key Financial Highlights

• Disbursements stood at Rs. 1,289.00 crores, up 9.6% year-on-year
• Profit after tax increased 43% year-on-year to Rs. 132.00 crores
• Net interest margin improved to 5.4% from 5.2% in the previous quarter
• Cost of borrowing reduced by 30 basis points to 8.1%

Expansion and Distribution

HomeFirst Finance continued its strategic expansion, growing its distribution network to 366 touchpoints and 163 branches. This represents a significant increase from 249 touchpoints and 101 branches three years ago, demonstrating the company's commitment to broadening its market presence.

Asset Quality Metrics

While the company reported strong growth, it faced some challenges in asset quality:

The company acknowledged challenges in specific markets, particularly Surat, Coimbatore, and Tirupur, due to tariff-related impacts on textile and leather industries.

Digital Adoption and Technological Advancements

HomeFirst Finance continues to leverage technology for operational efficiency:

• 83% of approvals facilitated via the account aggregator framework
• Over 80% of loans digitally fulfilled through e-agreements and e-NACH mandates
• 96% of customers registered on the mobile app

The company recently implemented an in-house developed treasury management system to enhance liquidity risk management and streamline operations.

Outlook and Strategy

Despite the challenges, HomeFirst Finance maintains a positive outlook:

• Credit costs maintained at 40 basis points
• Expects to bring asset quality metrics back to earlier levels over the next two quarters
• Focuses on early bucket resolutions and collection efforts

The company remains optimistic about business momentum in the second half of the fiscal year, citing improving macro-environment, easing interest rate cycle, and benign inflationary trajectory.

Earnings Call Insights

During the earnings conference call, management provided additional context:

• The company aims to reduce cost of borrowing to under 8% by March
• Expects net interest margins to expand due to reduced cash on the balance sheet and improved leverage
• Plans to add 4-5 new branches in the upcoming quarter
• Targets to increase co-lending contribution to 10% of disbursements as they scale

While facing some headwinds in specific markets, HomeFirst Finance remains committed to its growth strategy and maintaining asset quality through focused collection efforts and prudent underwriting.