Indiabulls Housing Finance (IBHFL), India's second largest private housing finance company is expanding its overseas presence, with the inauguration of its first  branch in Dubai. The Company already operates a similar Representative Office in London, which caters to Indian expatriate community in UK.

Gagan Banga, vice chairman & MD, IBHFL & Sachin Chaudhary, Business Head, IBHFL inaugurated the new branch located at Centurion Star, Port Saeed, Opposite Deira City Centre, Dubai, on Feb. 16, 2015.

Gagan Banga, vice chairman & MD, Indiabulls Housing Finance said, ''Dubai is an important market for us with a sizable NRI and PIO population. IBHFL is one of the few financial institutions, including banks, to have been granted a full Representative Office License by the Central Bank of UAE. This is a significant step forward in our quest to scale up our international footprint to serve the mass affluent Indian Diaspora in the Gulf region. The company leverages on its strong network with builders across the country to offer an array of options to the NRIs in these countries and provide one stop solution to their housing needs in India.''

Shares of the company gained Rs 618.5, or 0%, to settle at Rs 618.50. The total volume of shares traded was 196,772 at the BSE (Monday).