Micro Housing Finance Corporation receives 5 star Impact Rating

Micro Housing Finance Corporation ("MHFC"), a housing finance company that is solely focused on providing housing loans to financially excluded urban lower income families, has been issued its 2014 Global Impact Investing Ratings System ("GIIRS") assessment - summary available http://mhfcindia.com/MHFC_2014_GIIRS_Rating_Report_-_First_Page.

Mumbai, Maharashtra, January 16, 2015 /India PRwire/ -- Micro Housing Finance Corporation ("MHFC"), a housing finance company that is solely focused on providing housing loans to financially excluded urban lower income families, has been issued its 2014 Global Impact Investing Ratings System ("GIIRS") assessment - summary available http://mhfcindia.com/MHFC_2014_GIIRS_Rating_Report_-_First_Page.

The company has received the highest possible rating in both categories - a "5 star Impact Operations Rating", which evaluates 'the impact of the business in how it operates' and a "Platinum Impact Business Model Rating", which 'recognizes business models that are specifically designed to solve social or environmental problems through company products or services, target customers, value chain, ownership, or operations.' These ratings reflect the company's strong execution against its mission of generating positive social impact and is also an upgrade over the company's previous 4 star rating.

GIIRS Rating & Analytics (pronounced "gears") stands for the Global Impact Investing Rating System, and is the only entity worldwide that provides a comprehensive and transparent system for assessing the social and environmental impact of companies and funds. It grades on a scale of one to five stars and is based on results of over 540 GIIRS rated companies in 40 countries. GIIRS is widely used by all major global impact financiers and funds, and allows entrepreneurs, companies and fund managers to better serve their customers, workers and communities by raising capital from mission-aligned investors based on the non financial impact of their underlying businesses. For more information on GIIRS, please visit http://giirs.org/.

"We are very excited and proud to receive a GIIRS 5 star rating and further, the highest possible rating in the new category to recognise impact business models," said Madhusudhan Menon, Chairman, MHFC. "This assessment and rating is issued by the world's leading impact rating agency and thus is a strong endorsement of the work being done at MHFC. Like we had stated last year, we believe that it is very important for companies like MHFC that address social problems to have a way of demonstrating its work to help external stakeholders such as financiers, investors, regulators and the public at large assess impact, and the GIIRS assessment is very helpful in communicating this objectively."

"As early investors in MHFC (since 2009), we have witnessed the company's commitment to best-in-class governance, ethics and customer centricity. As a foundation focused on driving large-scale, sustainable impact for urban poor children and families, it is great to see third-party validation of MHFC's double-bottom-line approach, and we hope this sets a standard for the industry to follow," said Geeta Goel, Director, Mission Investing at the Michael & Susan Dell Foundation.

MHFC, which counts the India Financial Inclusion Fund, the Michael & Susan Dell Foundation and the Ronnie Screwvala-founded Unilazer Ventures as major investors, has over the last 5 years sanctioned approx Rs 300 cr long term housing loans to about 6,000 low income families from the informal sector, who are typically financially excluded due to a lack of documentation.

Notes to Editor

ABOUT MICRO HOUSING FINANCE CORPORATION

MHFC is a housing finance company headquartered in Mumbai, India, focused on serving lower income groups in urban areas, specifically those in the informal sector. MHFC, through this initiative, seeks to efficiently and sustainably enable access to housing finance services to the underserved and un-served segments of the urban population. For more information on MHFC, please visit http://www.mhfcindia.com.


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Micro Housing Finance Corporation recent press release(s)


Micro Housing Finance Corporation announces audited FYE March 31, 2015 financials - highlights include 32% increase in PAT / 40% increase in loans outstanding / 5 star GIIRS (social impact) rating

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