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HDFC held 26.14% of shares in HDFC Bank. HDFC Bank sources home loans for HDFC for a fee. [22] The key business areas of HDFC Bank were wholesale and retail banking and treasury operations. As of April 2023, its market capitalisation was ₹ 941,386 crore (US$110 billion), making it India's third largest publicly traded company. [23]
On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [23] [24] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
The HDFC was established under the National Housing Act No. 37 of 1957 and it commenced operations in June 1984. [4] The Housing Development Finance Corporation of Sri Lanka Act No. 7 of 1997 passed in the parliament of Sri Lanka. Under the act, the HDFC was established as a state-owned enterprise. The act was amended in 2003, allowing the HDFC ...
The original goal of NYC HDFCs in the early 1980s was to salvage neglected housing stock [3] while lifting people out of poverty and low income status by giving them home ownership. Most HDFC coops originated in crime-ridden neighborhoods as discarded buildings that the city did not want to maintain, thus, the buildings were sold to tenants.
[22] [23] As of March 2024, 86% of its gross loan assets are from home loans, and 13% from the loan against property vertical. [2] The company operates in 13 states and union territories through 133 branches and 321 touchpoints. [3] As of March 2024, 58.5% of its loan assets are from the states of Gujarat, Maharashtra and Tamil Nadu. [3] [24] [5]
Renu Sud Karnad is an Indian businesswoman and the managing director of India's largest Mortgage Financier Housing Development Finance Corp. Ltd. Additionally she also holds seven other positions for companies like HDFC Property Ventures Ltd., HDFC Education & Development Services Pvt Ltd. (both are subsidiaries of HDFC Ltd.) and Non-Executive Chairman at GlaxoSmithKline Pharmaceuticals Ltd.
IL&FS was formed in 1987 as an "RBI registered Core Investment Company" by three financial institutions, namely the Central Bank of India, Housing Development Finance Corporation (HDFC) and Unit Trust of India (UTI), to provide finance and loans for major infrastructure projects. [9]
LIC Housing Finance Limited (LIC HFL) is the largest Housing Finance Company in India, with a registered corporate office in Mumbai. It is a deposit taking housing finance company, and it is a subsidiary of LIC , mainly providing long-term financing to people who purchase or construct residential houses or flats.
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