Shubham Housing Finance

Founded in 2010

Initial investment in 2010

Board member: Sandeep Farias

'Shubham provides home loans and home improvement loans to low income individuals and families in urban and semi-urban India'

Company overview

Shubham provides home loans (and home improvement loans) to low income individuals and families in urban and semi-urban India. Distinct among the few housing finance companies serving lower income groups, Shubham is one of the first to focus its operations on financing homes within existing communities of borrowers (who largely work in India’s informal sector), as against financing builder projects that are primarily located in the outskirts of cities predicated on relocation. Shubham has created a system of surrogates for the credit appraisal process to assess risk and repayment capacity properly, using new tools to determine household wealth and expenses. The company currently operates in multiple states in India.

Community served

Shubham focuses on customers who face challenges accessing finance from mainstream lenders due to the informal nature of their income. Shubham’s clients include small business owners, self-employed entrepreneurs, and salaried workers for government jobs or lower-paid company positions. Shubham has focused on opening branches in urban and semi-urban low income communities with high stability and high degrees of entrepreneurialism, being fully cognizant of the positive effects of an improved home on families and communities. A majority of Shubham’s customers have never accessed a formal loan.

The low income housing market in India is worth over $160 bn.


Sanjay Chaturvedi, Founder and CEO, has over 30 years of expertise in general management, sales and distribution, banking and backend operations including collections across large, blue chip financial services organizations. He has successfully launched and led new verticals for the consumer businesses of Citibank, HSBC, GE Consumer Finance in India and First Gulf Bank (FGB) in the UAE. He has also set up and managed the Lending and Payments division for Reliance Retail. Sanjay co-founded Shubham with Ajay Oak (1973 - 2018) in 2010.

Rupa Basu, Executive Director, comes with over two decades of experience and has an expertise in credit risk management across Retail Mortgages, Personal Loans and Credit Cards. She was with Citibank India for over 16 years, in various roles across retail assets and liabilities, post which she spent three years in the India Mortgage Guarantee Corporation Pvt Ltd. as one of the key members of the senior leadership team that launched the mortgage guarantee product in India.