Housing Development Finance Corporation Ltd
Housing Development Finance Corporation Ltd (HDFC)

Housing Development Finance Corporation Ltd (HDFC)

₹2229.51.2%

Key Stats

₹2186
Day's Price Range
₹2234
₹2026
52-Week Price Range
₹3021.1
1 Month Return-2.51 %
3 Month Return-10.55 %
1 Year Return-11.76 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 2
17.62
EPS
Rank 3
₹124.97
BVPS
Rank 3
₹867.02
Dividend Yield
Rank 2
0.92%
ROE
Rank 3
12.34%
Price To Book Ratio
Rank 2
2.54
Debt To Asset
Rank 3
0.81

Company Information

Housing Development Finance Corporation Limited HDFC was incorporated on 17 October 1977 as the first specialized Mortgage Company in India. The principal business is to provide finance to individuals corporate and developers for the purchase construction development and repair of houses apartments and commercial property in India. The business is conducted through its branches in India and its overseas offices in London Singapore and Dubai supported by a network of agents for sourcing loans as well as deposits and service associates in the Middle East region to provide housing loans and property advisory services to nonresident Indians NRIs and persons of Indian origin PIOs. HDFC is the holding company for investments in its associates and subsidiary companies.HDFCs product range includes loans for purchase and construction of a residential unit purchase of land home improvement loans home extension loans nonresidential premises loans for professionals and loan against property while its flexible repayment options include Step Up Repayment Facility SURF and Flexible Loan Installment Plan FLIP.The companys subsidiaries include HDFC Developers Ltd HDFC Investments Ltd HDFC Holdings Ltd HDFC Trustee Company Ltd HDFC Realty Ltd HDFC Property Ventures Ltd HDFC Sales Pvt Ltd HDFC Ventures Trustee Company Ltd HDFC Venture Capital Ltd HDFC Ergo General Insurance Company Ltd HDFC Standard Life Insurance Company Ltd GRUH Finance Ltd HDFC Asset Management Company Ltd and HDFC Bank Ltd. Housing Development Finance Corporation Ltd was incorporated in the year 1977. The Corporation is established with the primary objective of meeting a social need that of promoting home ownership by providing longterm finance to households for their housing needs. The company was promoted with an initial share capital of Rs. 100 million.In the year 1979 the Corporation introduced HDFC Certificate of Deposit Scheme. In the year 1981 they introduced their first retail Deposit Product. They promoted a wholly owned subsidiary HDFC Developers during the year. In the year 1982 the Corporation introduced the Line of Credit Product LOC for employee owned housing. In the year 1985 the Corporation introduced the Home Savings Plan based on the Bausparkassen model West Germany and the Stepup Repayment Facility. In the year 1988 the Corporation in with Indias leading financial institutions and commercial banks promoted Gujarat Rural Housing Finance Corporation Ltd GRUH Finance Housing Promotion and Finance Corporation Ltd now SBI Home Finance Can Fin Homes Ltd and Infrastructure Leasing and Financial Services ILFS and the Credit Rating Information Services of India Ltd CRISIL. They introduced Telescopic Loan Plan and Short Term Bridging Loan products.In the year 1989 the Corporation introduced two new products namely Home Improvement loans Home Extension loans. In the year 1990 the Corporation in association with the United Nations Centre for Human Settlements promoted the Coalition of Housing Finance Institutions in Asia. In the year 1991 they relaunched their retail fixed deposit products.In the year 1993 the company made a joint venture with General Electric Capital Corporation of US to promote Countrywide Consumer Financial Services Ltd for consumer finance. In the year 1994 the Corporation introduced NonResidential Premises Loans for Individuals.In the year 1995 the Corporation made a Strategic alliance with NatWest Markets UK and promoted the HDFC Bank. They made a joint venture with ILFS and Colliers Jardine Asia Pacific Ltd and promoted Colliers Jardine India Property Services Ltd. Also they signed a MoU with Standard Life Assurance Co. of UK for life insurance.In the year 1997 the Corporation promoted the first private sector housing finance company namely Delta Brac Housing Finance Corporation Ltd in Bangladesh. In the year 1998 the Corporation in partnership with a Southbased NGO launched the Indian Association for Savings Credit IASC a pioneering microfinance institution operating in the states of Tamil Nadu and Kerala. Also they introduced Home Equity Loans and Corporate Employees Group Finance Arrangement.In the year 1999 the Corporation invested in a new Housing Finance company in Sri Lanka. They launched the Corporation website www.hdfcindia.com now hdfc.com. Also they introduced the Adjustable Rate Home Loans and became the first housing finance institution to do so.In the year 2000 the Corporation inaugurated a new HDFC Standard Life office in Mumbai. They launched their first Property Fair and they issued their first Mortgage Backed Securities. The Corporation made a joint venture with Mahindra Mahindra group and promoted propertymartindia.com a website for providing a range of real estate services. During the year the Corporation acquired the entire shareholding of Hometrust Housing Finance Company Ltd. Also GRUH became a subsidiary of the Corporation. They made a joint venture with TCS and promoted Intelenet Global Services Limited for IT enabled services. Also they entered into joint venture with Standard Life Investments for promoting the HDFC Mutual Fund. In the year 2001 the Corporation in association with State Bank of India Dun Bradstreet and Trans Union International Inc. TU promoted Credit Information Bureau India Ltd. They opened their 100th office at Amristar. In the year 2002 the company made a joint venture with Chubb Corporation USA and promoted HDFCChubb General Insurance Company Ltd for nonlife insurance. In June 2003 they singed a USD 200 millionloan agreement with International Finance Corporation IFC Washington.In May 2003 the Corporation signed a Technical Service Contract with Egyptian American Bank for providing technical assistance for setting up Egypts first private sector led mortgage finance company Egyptian Housing Finance Company.In February 2005 the Corporation entered into an implementation agreement with NHB and Asian Development Bank for technical assistance for a study on the development of an agency/secondary mortgage institution to facilitate issuance of residential mortgage backed securities along similar lines as Fannie Mae in USA.During the year 200607 the Corporation approved 8 schemes in the area of lowincome housing and microenterprise financing by way of financial intermediation to partner nongovernment organisations and microfinance institutions. They divested their equity holding in HDFCSL in favour of Standard Life Assurance Company UK for a consideration of Rs. 5.66 crore.During the year 200708 the Corporation approved 16 new schemes under the KfW Entsicklungsbank lines in the area of lowincome housing and microfinance by way of financial intermediation to partner nongovernment organisations across India. They launched two major advertising campaigns namely Asset Plus and Empowerment. Asset Plus was launched primarily to create awareness about home equity loans. Empowerment highlighted the fact that the Corporations employees are empowered to deploy all resources available to them to provide professional services to customers.During the year the Corporation acquired the entire 26 of the equity of HDFC Chubb General Insurance Company Ltd from Chubb Global Financial Service Corporation USA consequent to which the company became a wholly owned subsidiary of the Corporation. In June 2007 consequent to a preferential offer by HDFC Bank Ltd the Corporation acquired 13582000 shares of HDFC Bank for a consideration of Rs. 1390.11 crore. In October 2007 the Corporation and Standard Life Investments realigned their shareholding in HDFC Asset Management Company Ltd. Accordingly the Corporation increased their stake to 60 in HDFCAMC by acquiring 9.9 from Standard Life Investments. Also the Corporation and ERGO International AG ERGO the primary insurance entity of Munich Re Group Germany entered into a joint venture where by HDFC sold 26 equity stake of the company to ERGO. As a result of this new joint venture the company was named HDFC ERGO General.During the year the Corporation divested 7.15 of its equity holding in HDFCSL in favour of Standard Life Assurance Company UK for a profit of Rs. 120.94 crore. Also they divested their entire shareholding in Intelenet Global Service Pvt Ltd for a profit of Rs. 313.25 crore. As a result Intelenet Global Service Pvt Ltd ceased to be an associate of the Corporation.During the year 200809 the Corporation approved 12 new schemes under the KfW Entsicklungsbank lines in the area of lowincome housing and microfinance by way of bulk loans to partner NonGovernment Organisations and microfinance institutions.During the year 200910 the Corporation introduced HDFC Systematic Savings Plan which is a monthly savings plan offering a variable rate of interest. They launched a key brand campaign HDFC because every family needs a home. The objective of the campaign was to connect with HDFC s existing customers as well as prospective customers making the HDFC brand synonymous with a home.In April 2010 the company launched a special home loan product at a fixed rate of 8.25 per annum up to March 31 2011 9 for the period between April 4 2011 and March 31 2012 and the applicable floating rate for the balance term. This is a flexible product with dual rates. They also relaunched their product loan against property to assist customers.During the year 201011 HDFC Real Estate Destination HDFC RED an online real estate portal was launched with the key objective of providing a single destination to potential home buyers to search and shortlist desired properties that suit their requirements.In 2011 HDFC signed MOU with Indian Army for total Salary Solutions. HDFC 5000th ATM was launched at Swami Narayan Chowk RajkotIn 2012 the company incorporated a new wholly owned subsidiary namely HDFC Education and Development Services Pvt Ltd. HDFC launched Solitaire range of womens Credit Cards. HDFC Bank and Vodafone India launch mpaisa a product for financial inclusion. The company also launches Tax payment facility through ATM and also a Bouquet of premium Travel Credit Cards. The company also launches INFINIA Credit CardIn 2013 HDFC Mutual Fund Acquires the Schemes of Morgan Stanley Mutual Fund. In 2015 HDFC Life gets nod to up foreign partner stake FDI boost for HDFC as FIPB clears Standard Lifes proposal. HDFC launches its first school The HDFC School in Gurgaon.HDFC announced a reduction in its Retail Prime Lending Rate RPLR by 20 basis points with effect from 13 April 2015. On 8 June 2015 a Committee of the Board of Directors of the Company approved a proposal for simultaneous offering of Secured Redeemable NonConvertible Debentures of upto Rs. 5000 crore along with warrants convertible into equity shares. On 14 August 2015 HDFC announced that it had agreed to sell 17.95 crore shares of HDFC Standard Life Insurance Company Limited HDFC Life in favour of its joint venture partner Standard Life Mauritius Holdings 2006 Limited at a price of Rs 95 per share aggregating to 9 of the issued and paidup share capital of HDFC Life. Post the stake sale HDFC s holding in HDFC Life will drop to 61.65. HDFC announced a reduction in its Retail Prime Lending Rate RPLR by 25 basis points with effect from 6 October 2015. HDFCs Board of Directors at its meeting held on 26 October 2015 granted inprinciple approval for establishment of a Sponsored Level 1 ADR programme in respect of up to 10 of the issued and paidup share capital of the company. The Sponsored ADR programme envisages conversion of existing equity shares of the company into ADRs and does not entail any issue of additional shares.On 7 January 2016 HDFC announced that HDFC Capital Affordable Real Estate Fund1 HCARE1 an Alternative Investment Fund AIF sponsored by the company has received an aggregate commitment for an amount of Rs. 2700 crore from various investors. The targeted fund size is approximately Rs. 5000 crore and the first close will be Rs. 2700 crore. The tenure of the fund will be 12 years and it will invest in the longterm equity of mid income housing. HDFC Capital Advisors Limited a wholly owned subsidiary of HDFC has been appointed as an investment manager for HCARE1. On 3 June 2016 HDFC announced that it had completed the transfer of 12.33 crore shares of its subsidiary HDFC ERGO General Insurance Company Limited HDFC ERGO representing 22.902 stake in HDFC ERGO in favour of its joint venture partner ERGO International AG. HDFC further said that it made pre tax profit of Rs. 922 crore and post tax profit of Rs. 725 crore from this transaction. On 17 December 2015 HDFC had agreed to sell 22.902 stake in HDFC ERGO to ERGO International at a price of Rs. 90.973 per share for aggregate consideration of Rs. 1122 crore.On 14 July 2016 HDFC announced that it had successfully priced Rs 3000crore overseas issue of unrated rupee denominated bonds. HDFC thus became the first Indian corporate issuer of rupee denominated bonds overseas. Rupeedenominated bonds are instruments through which Indian entities can raise funds in overseas capital markets while the bond investors hold the currency risk. HDFCs Board of Directors at its meeting held on 27 July 2016 granted inprinciple approval for the amalgamation of five whollyowned subsidiaries viz. Grandeur Properties Private Limited Haddock Properties Private Limited Winchester Properties Private Limited Pentagram Properties Private Limited and Windermere Properties Private Limited into HDFC. The area of business of these five subsidiaries is receiving of rental income on commercial properties. On 18 November 2016 HDFC announced that it has assigned its outstanding loans to the Unitech group to JM Financial Asset Reconstruction Company JMFARC. Against total outstanding loans of Rs. 869 crore to the Unitech group JMFARC paid HDFC Rs. 155 crore upfront and issued Security Receipts SRs to HDFC amounting to Rs. 705 crore to be redeemable over the period of construction of Unitechs projects. On 30 March 2017 HDFC announced that it had raised Rs. 3300 crore through the first issue of rupee denominated bonds to overseas investors under the Medium Term Note programme. On 1 June 2017 HDFC announced that its whollyowned subsidiary HDFC Investments Limited has made an investment about 1.5 million by subscribing to 15 of the share capital of First Housing Finance Tanzania the first housing finance company to be set up in Tanzania. On 22 June 2017 HDFC executed a subscription agreement with International Finance Corporation Washington IFC whereby IFC decided to subscribed to the rupee denominated bonds to be issued overseas by HDFC up to an amount of Rs. 1300 crore.On 26 July 2017 HDFCs Board of Directors granted approval for issue of Secured Redeemable NonConvertible Debentures NCD aggregating to Rs 35000 crore on a private placement basis under a Shelf Disclosure Document. On 28 July 2017 HDFC announced that it had approved offering of up to 19.12 crore equity shares of Rs 10 each of HDFC Standard Life Insurance Company HDFC Life representing 9.57 of the paid up and issued share capital of HDFC Life for sale in the initial public offer of HDFC Life. HDFC Life will continue to be a subsidiary of HDFC after the IPO.On 31 July 2017 HDFC Standard Life Insurance Company and Max Group entities announced that they had called off the proposed merger of their life insurance business since the parties were unable to obtain the requisite regulatory approvals to consummate the proposed merger and other transactions contemplated under the definitive agreements for the merger. On 8 August 2016 HDFC Life and Max Group Entities had announced a proposal for the merger of their life insurance business through a composite scheme of arrangement and had entered into certain definitive agreements to implement the merger. On 17 June 2016 the Board of Directors of HDFC Standard Life Insurance Company Max Life Insurance Company and Max Financial Services approved entering into a confidentiality exclusivity and standstill agreement to evaluate a potential combination through a merger of Max Life Insurance Company and Max Financial Services with HDFC Standard Life Insurance Company by way of a scheme of arrangement. On 14 August 2017 the Insurance Regulatory Development Authority of India granted its final approval for the merger of HDFC ERGO General Insurance Company Limited HDFC ERGO a subsidiary of the company with HDFC General Insurance Company Limited formerly LT General Insurance Company. On 9 September 2016 HDFC ERGO announced that it had completed the acquisition of 100 shares of LT General Insurance Company Limited for Rs 551 crore. On 3 June 2016 the Board of Directors of HDFC ERGO had approved the acquisition of 100 stake in LT General Insurance Company Limited for an aggregate amount of Rs. 551 crore subject to receipt of requisite approvals.On 16 November 2017 HDFC announced that it had raised Rs. 1300 crore from the issue of rupee denominated bonds to International Finance Corporation Washington under the Medium Term Note Programme.On 30 November 2017 HDFC approved offering a part of its shareholding in its subsidiary HDFC Asset Management Company Limited HDFC AMC through offer for sale in the initial public offer IPO of HDFC AMC. As on 30 September 2017 HDFC held 57.36 stake in HDFC AMC. HDFCs Board of Directors at its meeting held on 19 December 2017 approved subscription to the securities offered by HDFC Bank on preferential basis up to an amount not exceeding Rs 8500 crore. The board also approved raising funds through issue of equity shares and/or other permissible securities up to an aggregate amount not exceeding Rs. 13000 crore. On 20 December 2017 HDFC approved the sale of 6.3 stake in Computer Age Management Services Private Limited CAMS to Great Terrain Investment Ltd Mauritius an affiliate of Warburg Pincus group for a total consideration of Rs 209.50 crore. After completion of the sale HDFCs holding in CAMS will drop to 4.8 of the equity capital of CAMS.On 21 December 2017 HDFC approved the sale of 100 of its equity share capital in HDFC Developers Limited which runs the HDFC Red platform and HDFC Realty Limited a real estate brokerage platform to Quikr for total consideration of Rs. 101.99 crore and Rs. 254.98 crore respectively. Quikr is Indias largest classifieds platform. Simultaneously HDFC acquired an equity stake in Quikr India Private Limited.Pursuant to receipt of approval of the members through Postal Ballot in February 2018 the Corporation issued 64329882 equity shares of Rs 2 each at an issue price of Rs 1726.05 per equity share on preferential basis in accordance with the provisions of Chapter VII of the SEBI Issue of Capital and Disclosure Requirements Regulations 2009 SEBI ICDR Regulations. The Corporation also issued 10389041 equity shares at an issue price of Rs 1825 per equity share to QIBs on a qualified institutions placement basis in accordance with the provisions of Chapter VIII of the SEBI ICDR Regulations. The Corporation raised an aggregate amount of Rs 13000 crore from both the issuances.In October 2015 the Corporation had issued 3.65 crore warrants at an issue price of Rs 14 per warrant with a right exercisable by the warrant holder to exchange each warrant for one equity share of Rs 2 each of the Corporation at any time on or before October 05 2018 at a warrant exercise price of Rs 1475 per equity share to be paid by the warrant holder at any time of exchange of the warrants. As at March 31 2018 514600 warrants have been exercised and exchanged into 514600 equity shares of Rs 2 each of the Corporation. The equity shares so issued rank pari passu with the existing shares of the Corporation.In January 2018 the Corporation sold its entire stake in its wholly owned subsidiary companies HDFC Developers Limited and HDFC Realty Limited to Quikr India Private Ltd. Consequently HDFC Realty Limited and HDFC Developers Limited ceased to be subsidiaries of the Corporation with effect from 24 January 2018.During the year 2018 the Corporation approved offering of upto 4.08 of the paid up and issued equity share capital of HDFC Asset Management Co. Ltd. HDFC AMC a subsidiary of the Corporation for sale in the IPO of HDFC AMC. The Board of Directors at its earlier meeting held on 27 July 2016 had approved the scheme of amalgamation of five of its wholly owned subsidiaries Windermere Properties Private Limited Haddock Properties Private Limited Grandeur Properties Private Limited Winchester Properties Private Limited and Pentagram Properties Private Limited with itself. The applications for the proposed merger were filed with the NCLT Mumbai bench and in March 2018 the scheme of amalgamation was approved by the NCLT. The order was filed with the Registrar of Companies Mumbai on April 27 2018. Accordingly the Corporation has considered the operations of the said subsidiaries from April 1 2016 as its own operations and accounted for the same in its books of accounts after making necessary adjustments.During the year 2018 the Corporation sold individual loans amounting to Rs. 6453 crore of which Rs. 1850 crore qualified as priority sector advances for banks.The corporations Assets Under Management AUM as at 31 March 2019 amounted to Rs 461913 crore as compared to Rs 402880 crore in the previous year. On an AUM basis the growth in the individual loan book was 17 and the nonindividual loan book was 8. The growth in the total loan book on an AUM basis was 15. During the FY2019 the Corporations loan book increased from Rs 362811 crore to Rs 406607 crore as at 31 March 31 2019. In addition total loans securitised and/or assigned by the Corporation and outstanding as at 31 March 2019 amounted to Rs 55306 crore.During the fiscal 2019 the Corporation sold individual loans amounting to Rs 25150 crore Previous Year: Rs 6453 crore. Of this Rs 23982 crore was assigned to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank and Rs 1168 crore was assigned/ securitised to another bank. Of the total loans sold during the year Rs 5316 crore qualifed as priority sector advances for banks.As at 31 March 2019 the investment portfolio stood at Rs 46240 crore compared to Rs 30717 crore in the previous year.As at 05 October 2018 36499471 warrants had been lodged for exchange with equity shares of the Corporation representing 99.99 of the warrants issued. Accordingly the Corporation issued and allotted 36499471 equity shares of Rs 2 each and realised an amount of Rs 5384 crore of which Rs 5308 crore was received during the year.During the year 2019 the Corporation raised an amount of Rs 48177 crore through secured redeemable nonconvertible debentures NCDs issued in various tranches on a private placement basis. . The NCD issues have been assigned the highest rating of CRISIL AAA/Stable and ICRA AAA/Stable.In July 2018 the Corporation raised an ECB of USD 750 million in the form of a syndicated loan facility. The Corporation also raised an ECB of JPY 53.2 billion USD 486 billion equivalent in December 2018. As on 31 March 2019 the Corporation has 18 subsidiaries and 4 associate companies under its roof.The corporations Assets Under Management AUM as at 31 March 2020 amounted to Rs 516773 crore as compared to Rs 461913 crore in the previous year. On an AUM basis the growth in the individual loan book was 14 and the nonindividual loan book was 6. The growth in the total loan book on an AUM basis was 12.During the FY2019 the Corporations loan book increased from Rs 406607 crore to Rs 450903 crore as at 31 March 31 2020. In addition total loans securitised and/or assigned by the Corporation and outstanding as at 31 March 2020 amounted to Rs 65870 crore.As at 31 March 2020 the investment portfolio stood at Rs 64944 crore compared to Rs 46240 crore in the previous year.In May 2019 the Corporation raised an ECB of USD 200 million in the form of a syndicated loan facility. The ECB was for a tenor of 3 years.As on March 2020 the risk weighted assets of the corporation stood at around Rs 393000 crore.As on 31 March 2020 the Corporation has 19 subsidiaries and 3 associate companies under its roof.During the FY2020 the corporation has issued NCDs amounting to Rs 46190 crore from series V005 to V008 and W001 to W010.Consequent to the outbreak of COVID19 pandemic the Indian government had announced lockdown in March 2020. Subsequently the lockdown has been lifted by the government in a phased manner outside specified containment zones. The corporation has acquired 51.16 stake HDFC ERGO Health Insurance Ltd subsequent to this HDFC ERGO became the subsidiary of the corporation.During December 2020 the Corporation has sold 2548750 equity shares of HDFC Life Insurance Company Limited HDFC Life and complied with the direction from the RBI to reduce the shareholding in HDFC Life to 50 or below. As a result a pre tax profit on sale of investments of Rs 157.10 Crore has been recognised in the quarter ended 31 December 2020 and the Corporations equity shareholding in HDFC Life stood at 49.99.In December 2020 the Corporation raised additional capital through a Qualified Institutions Placement of 568 18 181 equity shares at a price of Rs 1760 per share and 17057400 convertible warrants at an issue price of Rs 180 per warrant with a right to exchange one warrant with one equity share of Rs 2 each any time before the expiry of 36 months from the date of allotment at an exercise price of Rs 2.165 per warrant. In December 2020 the National Company Law Tribunal has sanctioned the Scheme of Amalgamation for merger of HDFC ERGO Health Insurance Limited formerly Apollo Munich Health Insurance Company Limited HDFC ERGO Health with and into HDFC ERGO General Insurance Company Limited HDFC ERGO subsidiaries of the Corporation and Insurance Regulatory and Development Authority of India IRDAI has issued final approval for the merger. Consequently HDFC ERGO Health has been merged with HDFC ERGO from appointed date i.e. 01 March 2020. As at the end of March 2021 the Corporations holding in HDFC ERGO the merged entity is 50.56. As per the directions of RBI the Corporation is required to reduce its shareholding in the merged entity to 50 or below within 6 months post amalgamation.During the year 202021 the Corporation has sold 28548750 equity shares of HDFC Life Insurance Company Limited HDFC Life in two tranches in May 2020 and November 2020 to comply with the RBI direction to reduce the shareholding in HDFC Life to 50 or below. As a result a pre tax profit on sale of investments of Rs 1240.59 crore and Rs 157.10 crore has been recognised in the respective periods and aggregate profit of Rs 1397.69 Crore for the year ended 31 March 2021. Consequently the Corporations equity shareholding in HDFC Life stood at 49.99 as on 31 March 2021.The Assets Under Management AUM as at 31 March 2021 amounted to Rs 569894 crore as compared to Rs 516773 crore in the previous year. On an AUM basis the growth in the individual loan book was 12. The growth in the total loan book on an AUM basis was 10. The Corporations outstanding loan book stood at Rs 498298 crore as at 31 March 2021 compared to Rs 450903 crore in the previous year.During the yeartotal Deposits outstanding as at 31 March 2021 amounted to Rs 150131 crore as compared to Rs 132324 crore in the previous yearresulting a growth of 13.HDFC Credila Financial Services Limited a wholly owned subsidiary of the Corporation was converted into a public limited company from a private limited company with effect from 08 October 2020. During the quarter ended 30 June 2021 the Corporation has sold its entire holding i.e. 4775241 equity shares representing 24.48 of the equity capital of Good Host Spaces Private Limited Good Host. As at 30 June 2021 the assets under management stood at Rs 574136 crore as against Rs 531186 crore in the previous year. As at 30 June 2021 individual loans comprise 78 of the Assets Under Management AUM. On an AUM basis the growth in the individual loan book was 14 and growth in the total loan book was 8. The growth in the individual loan book after adding back loans sold in the preceding 12 months was 22. The growth in the total loan book after adding back loans sold was 12. The Board of Directors of the HDFC Life Insurance Company Limited HDFC Life a subsidiary company of the Corporation has approved the Share Purchase and Share Swap Agreement between HDFC Life Exide Industries Limited and Exide Life Insurance Company Limited Exide Life in connection with the acquisition of 100 of the share capital of and subsequent merger of Exide Life into HDFC Life for a total consideration of 6687 crore subject to necessary regulatory approvals.As at 30 September 2021 the assets under management stood at Rs 597339 crore as against Rs 540270 crore in the previous year. As at 30 September 2021 individual loans comprise 78 of the Assets Under Management AUM. On an AUM basis the growth in the individual loan book was 16 and growth in the total loan book on an AUM basis was 11.During the quarter ended 30 September 2021the growth in the individual loan book after adding back loans sold in the preceding 12 months was 23. The growth in the total loan book after adding back loans sold was 15.
OrganisationHousing Development Finance Corporation Ltd
HeadquartersMumbai
IndustryFinance