Manipal Housing Finance Syndicate Limited

Company Overview MHFSL is a Karnataka-based housing finance company incorporated in 1986 by the Manipal Group in association with Syndicate Bank (now part of Canara Bank). Manipal Group holds ~61.38% stake, Canara Bank ~7.05%. The company is led by Mr. T. Sunil Pai. It's NHB-registered and offers housing loans, mortgage loans, and gold loans through 40 branches across Karnataka, Tamil Nadu, and Maharashtra. Business Snapshot (FY25 / H1 FY26) Loan portfolio: ₹527.94 Cr (Mar 2025), up from ₹474.55 Cr; AUM at ₹550.68 Cr by Sep 2025 Healthy asset quality — gross NPA 1.42%, ~95.5% on-time collections Strong capital adequacy ratio of 37.97%; net worth of ₹124.80 Cr Diversifying into gold loans (shorter tenure, higher yields) ~76.75% of portfolio concentrated in Karnataka Recent Development On January 28, 2026, Acuité reaffirmed and expanded MHFSL's ratings: 'ACUITE A-' (Stable) reaffirmed on ₹400.93 Cr bank facilities, plus a new 'ACUITE A-' on an additional ₹50 Cr 'ACUITE A' (Stable) reaffirmed on ₹80 Cr fixed deposits, plus a new 'ACUITE A' on ₹20 Cr The rating cited the company's established presence and strong capitalization, tempered by its modest scale and geographic concentration.