India’s second largest housing finance company DHFL has elevated Harshil Mehta as its Joint Managing Director and CEO. Mehta has been serving as the company’s CEO since January 2015.
With this appointment, Mehta will serve in the company’s board alongside its Chairman and Managing Director Kapil Wadhawan. Mehta will continue to work towards the company’s vision of providing housing finance access to the lower and middle income segment of India.
Under the leadership of Mehta, DHFL’s profit for the first quarter of 2017 increased 29% to Rs.260 crore compared to the same period in 2016. Disbursements of the company increased to 32.5% and assets under management increased to 22.5% on a year over year basis.
Mehta is an industry veteran with over two decades of experience in the banking, financial services and insurance (BFSI) sector. Moreover, he has extensive experience in launching profitable and sustainable businesses in the retail finance industry. He also has experience in the management role of various companies in India and overseas. With strong leadership skills, Mehta is expected to successfully implement the company’s vision and growth strategies.
Prior to his role as the CEO of DHFL, Mehta served as the Managing Director and CEO of Aadhar Housing Finance, a business venture formed by DHFL and International Finance Corporation. He has also served as the Joint General Manager of ICICI Home Finance Company Limited from 2008 to January 2011. Mehta’s extensive experience in various home financing organizations helped him lead the business expansion of DHFL over the last two years.
Mehta holds an MBA degree in Finance from Graduate School of Business, Mississippi State University, USA. He also holds an MSc degree from Mumbai University.