Overview

With the aim of providing affordable shelter to all, Panthoibi Housing Finance Company Limited (PHFCL) was established on 7th September 2005. Since its inception, the company has grown significantly, and in 2009, it became the first housing finance company in the entire North East India to secure the National Housing Bank license (NHB). Recognizing shelter as a fundamental need for every individual, the company has been offering housing loans to both rural and urban areas in Manipur.

A significant milestone in the company’s journey was achieved in 2015 when an MoU was signed between PHFCL and the Government of India (with NHB as the Central Nodal Agency). This partnership facilitated the provision of Pradhan Mantri Awas Yojana-Credit Linked Subsidy Scheme (PMAY-CLSS) housing loans to households in the Economically Weaker Section (EWS) and Low Income Group (LIG) categories in Manipur and beyond. Under the PMAY-CLSS, households with a monthly income of less than ₹50,000 can avail subsidies of up to ₹2.67 lakhs for urban areas and ₹38,000 for rural areas on home loans of ₹6 lakhs (urban) and ₹2 lakhs (rural), respectively, for a tenure of 20 years. As a result, PHFCL became the sole Manipur-based housing financial institution offering CLSS loans in the state. By 2017, three MoUs had been signed between PHFCL and the Government of India (with NHB as the Central Nodal Agency) to provide PMAY-CLSS loans to EWS, LIG, Middle Income Group (MIG) I and II, and Gramin categories.

The company was incorporated with the ROC on 19th January 2006 under the Companies Act, 1956, by the Ministry of Corporate Affairs, Government of India. It was registered as a Housing Finance Company with the National Housing Bank on 1st October 2009. PHFCL received its certificate of commencement for business on 2nd November 2009, issued by the Ministry of Corporate Affairs. On 18th December 2015, the Ministry of Finance, Department of Financial Services, specified PHFCL as a Financial Institution under the SARFAESI Act. The company’s head office is located in Uripok Tourangbam Leikai, Imphal West, with four branches in Manipur at Nambol, Moirang, Bishnupur, and Kakching, and one branch in Assam at Guwahati.

PHFCL’s product portfolio includes Regular Home Loans, CLSS Home Loans (both urban and rural), and Non-housing Loans (loan against property). As of 31st March 2023, PHFCL has sanctioned a total loan amount of ₹ 42.03 crores, including subsidized home loans under PMAY-CLSS, benefiting people across Manipur. The company’s equity paid-up capital from shareholders stood at ₹ 17.50 crores, its Net Owned Fund (NOF) at ₹ 20.76 crores, and its Authorized Capital at ₹ 25 crores. Through its business operations, PHFCL has been able to drive economic and social change within society.