House alone or cash and banking with risk cover, HDFC does it all

Housing Development Financing Corp Ltd (HDFC) is by far the largest home loan provider in the country, controlling more than 40% of the approximated Rs 12 lakh crore home mortgage market.Founded as a pure-play housing finance company by HT Parekh in 1977, HDFC now runs a bank, an asset management company, and life and basic insurance organizations.

HDFC’s overall loans have actually increased by 9% to Rs 5.52 lakh crore, up from Rs 5.05 lakh crore in the previous year, according to its most current results, and 76% of these went to individuals to purchase homes, mostly newbie purchasers.

During the quarter ended December 31, individual loan dispensations grew by 26% over the matching quarter of the previous year. Up until now in the ongoing , 34% of home loans authorized in volume terms and 17% in value terms went to clients from the Financially Weaker Section EWS) and Low-Income Groups (LIG). HDFC’s loan book has actually grown at a fast clip thanks to a sharp boost in its specific loan company, even as it has actually bewared over riskier corporate loans. In spite of a slowdown in the economy and its effect on the housing market, HDFC has actually managed to retain its leading position due to its strong franchise and own sales network, including branches, outlets and third-party partnerships.HDFC’s success for many years has been the result of hard work and commitment by its staff members, said president Keki Mistry. “In our most challenging year ever, the ET Awards Jury has actually adjudged HDFC as the very best Corporate. We are certainly fortunate to be bestowed this honour. This award, for its timing, will constantly have pride of place at HDFC,” he stated. “Never ever in the past in our living memory have we witnessed health, economic and monetary crisis emerge all at once around the world. At this point, one hopes and hopes that the world heals rapidly from this unprecedented disruption,” Mistry added.Despite the largescale disruption brought on by the Covid-19 pandemic, HDFC has been able to keep gross non-performing properties under 2% with restructured loans at simply 0.90% of its loan book.

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