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Muthoot Finance Distributes Keys of 14 New Aashiyana Homes

In Kochi
May 23, 2023

Muthoot Finance India’s largest gold loan NBFC Company has successfully constructed and handed over the newest tranche of 14 houses under the CSR initiative of Muthoot Aashiyana Housing Project in Edavanakkad, Kochi. The houses were distributed to the needy and underprivileged at Edavanakkad- a coastal suburb of Kochi. In order to celebrate this milestone, the company had organized a key
handover ceremony on May 08, 2023 at Edavanakkad, Ernakulam District.

The event was inaugurated by Shri. George Alexander Muthoot, MD, Muthoot Finance and Chief Guest –
Shri. Hibi Eden, MP, Ernakulum District. Shri George M George, Deputy Managing Director,
Muthoot Finance, inaugurated Environment friendly initiative “Plant a tree, save the Planet”.
Edavanakkad, a coastal suburb of Kochi, has recently become home to 14 new houses built
for poor and marginalized families. These families had previously been living in dilapidated
homes that were damaged by prolonged exposure to sea swells and erosion.

The Aashiyana Housing project was launched in 2018 with an aim to provide houses for those in need and it has now reached a milestone of 250 homes with the completion of the Edavanakkad
project. The company had previously delivered 202 homes in Kerala for victims of the 2018

Given the positive impact created by the Muthoot Aashiyana initiative, the company had
scaled up the project further. The recently completed projects under the initiative are 20
houses in Rewari, Haryana, and 10 houses in Haridwar, Uttarakhand. Muthoot Finance has
earmarked a collective spend of Rs. 20 Crore towards the scheme.

Speaking on the Muthoot Aashiyana scheme, Mr. George Alexander Muthoot, MD,
Muthoot Finance, said, “Muthoot Finance has always strived to positively contribute to the
society. We were deeply saddened and heart-broken by the loss witnessed by people in the
2018 floods in Kerala. As we have always maintained that a roof over one’s head is the most
basic need for a human being and losing it in a fatal disaster can leave people devastated as
everyone tends to have a deep rooted emotional attachment to their homes.

Therefore, despite the multiple geographical challenges, we wanted to help out the impacted people
by providing them with new homes. As of today, we are happy to mention that we have
successfully constructed 250+ homes. The company remains committed to its mission of
serving society and making a positive impact on people’s lives.”

Commenting on this initiative, Shri. Hibi Eden, MP, Ernakulum district “I am honoured to
commend Muthoot Finance for generously distributing keys of 14 Muthoot Aashiyana
homes in Edavanakkad, Kochi, providing a much-needed shelter to marginalized families
impacted by seashells and erosion. Muthoot Finances’ commitment to social responsibility
goes beyond just business success and employment creation, and this act of kindness is a
testament to their unwavering dedication to serving the community. Muthoot Finance
embodies the spirit of giving back, and I am proud to acknowledge their efforts in advancing