The Company was incorporated on January 10, 2000 with the main object of carrying on the business of providing long term finance to any person or persons, company or corporation, society or association enabling such borrower to construct or purchase in India a house or flat for residential purposes, upon such security and such terms and conditions as the Company may deem fit. In view of the transfer of shareholding by Tata Finance Ltd. to IDBI Ltd. pursuant to Share Purchase Agreement executed on May 30, 2003, the name of the Company was changed to IDBI Homefinance Ltd (IHFL) on December 19, 2003. The Company was taken over by IDBI Ltd. effective from September 8, 2003. IHFL is a wholly owned subsidiary of IDBI Ltd., with its registered office at New Delhi and Corporate Office at Pune. With 18 branches located at metro centres and major cities, IHFL has emerged as one of the leading housing finance companies in the country. As a new generation home finance company, IHFL derives the best attributes of the various providers of home finance. This includes a personal touch with customers, high quality customer service with the support of a state-of-the-art information technology system which differentiates it from other home loan providers in the country. IHFL has a centralized Data Base at Pune with online connectivity with all its branches facilitating real time operations, which is an important aspect of retail home finance.