By offering tailored financial options for NRIs, Andromeda is well-positioned to continue meeting the diverse and evolving needs of its clients in a dynamic financial landscape
Andromeda Sales and Distribution Private Limited, India’s premier loan distribution network, is expanding its services to Dubai, aiming to cater to the significant Non-Resident Indian (NRI) population eager to invest in real estate back home. Recognizing Dubai as home to the largest Indian diaspora, Andromeda’s latest strategic move is designed to facilitate home loans and commercial property purchase loans for NRIs looking to invest in India.
This initiative marks a significant step for Andromeda in capturing the growing demand among NRIs for real estate investments in India. With the Dubai market identified as a key area of growth, Andromeda anticipates a substantial increase in business from this offering in the fiscal year 2024-25.
This latest venture in Dubai is not just about expanding services but also reflects Andromeda’s commitment to innovation and its dedication to providing customer-centric solutions
“At Andromeda, we are committed to expanding our services to meet the evolving needs of our clients. The launch of our loan facilitation services for NRIs in Dubai is a testament to this commitment. We recognize the significant potential of the Indian diaspora in Dubai and are excited to provide them with seamless access to home loans as well as commercial property purchase loans in India,” stated Sandeep Lalwani, Director of Andromeda Sales and Distribution Private Limited.
In the Financial Year (FY) 2023-24, Andromeda disbursed over Rs 75,000 crore in loans, which includes nearly Rs 34,000 crore in home loans and close to Rs 25,000 crore in loans against property. Established in 1991 as a Direct Sales Associate for Citibank, Andromeda has since grown into India’s largest loan distribution company, offering a wide range of financial products, including home loans, personal loans, business loans, and more. The company also engages in insurance and mutual fund distribution through its group companies.
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