Background

Housing Development Finance Corporation Ltd (HDFC) was incorporated in 1977 and introduced its first retail deposit product in 1981. In 1996, HDFC opened its first international office in Dubai. HDFC is primarily associated with housing loans.

Business Profile

HDFC’s product range includes home loans, home improvement loans, home extension loans, short-term bridge loans, home equity loans, and land purchase loans, among others. HDFC has a distribution network that spans 250 outlets and caters to customers in over 2400 locations across the country. It also provides services of project management, investment consultancy and property related services. During FY08, the company approved loans worth Rs 425,200 mn, representing a y-o-y growth of 28%. During FY08, HDFC approved 16 new loan schemes for lowincome housing and micro-finance for EWS of the society. As on Mar 31 2008, the CAR of the company stood at 16.8% and gross NPAs to advance stood at 0.68% as against 0.77% in the previous year. During FY08, HDFC acquired 26% stake in HDFC Chubb General Insurance Co Ltd and became 100% holding company and also entered into a JV with ERGO International AG, Germany for insurance business.