- On October 17th HDFC was incorporated as a Public Limited Company.
HDFC was promoted by the Industrial Credit and Investment Corporation
of India. The company got the certificated of commencement of
business on 3rd December. HDFC provides housing finance in India.
corporation provides long term housing loans mainly to low and middle
income individuals and corporate bodies. It has also provided a
modest amount of construction finance to housing developers.
- On November HDFC introduced HDFC Certificate of Deposit Scheme.
- 5,00,126 shares taken up by subscribers to Memorandum of
Association. 50,000 shares reserved for International Finance
Corporation, Washington and 50,000 shares issued to His Royal
Highness The Aga Khan and/or Foundation Aga Khan Switzerland.
3,99,874 shares allotted at par to the public in May-June 1978.
- During the year company introduced Loan Linked Deposit scheme,
which encourages small savers to begin a pass book account with HDFC
for a minimum of Rs.200 and deposit, as and when funds are available
in multiples of Rs. 100. After a period of 3 years, the depositor
withdraw his accumulated deposit which has earned 9% per annum or
renew it with HDFC. In either the event, the depositor become
eligible for a loan up to 4 times his accumulated savings, subject to
normal lending policy of Co.
- During the year, HDFC negotiated for loan under Housing Guarantee
Programme under US aid. During the same year company launched
another programme named Non-Resident Certificate Deposit Scheme.
- During the year, the corporation issued bonds of face value of Rs.
5000 each for a total amount of Rs.10 crores.
- During the year a second issue of bonds of Rs. 5,000 each for Rs.10
crores was floated by way of public issue of bonds in March 1986.
- During the year on May company launched Home Saving Plan. Under
this facility, an individual can borrow for his housing needs at 8.5%
per annum provided he completes certain saving requirements before
hand. During the year company also introduced HDFC- Cumulative
- A new agreement was entered into with USAID under which a further
sum of U.S. million was borrowed from the U.S. capital market in
- During the period corporation issued, IV & Vth series of bonds for
Rs.10 crores and Rs. 5 crores respectively. During the same year
corporation started offering a new service called Advanced Processing
Facility (APF) under which property developers who are undertaking a
residential project can finance individuals buying a dwelling unit in
- 5,00,000 Rights equity shares issued at par in prop. 1:2.
Subsequently, another 5,00,000 No. of equity shares were offered at
par for public subscription.
- During the year HDFC issued its New Corporate Bonds - Series I for
Rs. 20 crores. Also VI, VII and VIII series bonds for an aggregate
amount of Rs. 20 crores were issued during the year.
- During the year National Housing Bank was set up as an apex body to
ensure orderly growth and functioning of housing finance system in
- Two new facilities viz., the Telescopic Loan Plan and Short Term
Bridging Loan were introduced mainly for younger borrowers.
- HDFC entered into an arrangement with the Bank of India whereby
HDFC was to receive fixed rate counterpart rupee funds in lieu of the
US dollars deposited with Bank of India in New York.
- The Home Loans Account scheme was to be launched in co-operation
with scheduled banks with effect from July 1, 1989.
- The Centre for Housing Finance unit proposed to design specific
programme contents to suit different purposes and institutions.
- During the year Krditanstalt Fur Wiederauflau of Germany, sactioned
a line of credit of DM 25 million to fund loans disbursed by HDFC for
low cost housing project directed to economically weaker section
- Two new types of loans namely, Home Improvement Loans (HIL) and
Home Extension Loans (HEL) was launched.
- During November, the company issued 13,77,500 equity shares of
Rs.100 each at a premium of Rs.85 per share to the public. And also
72,500 shares were reserved for employees of the company.
Simultaneously, the corporation offered 10,00,000 equity shares of
Rs. 100 each at a
premium of Rs. 75 per share to the then existing shareholders in
proportion 1:2. The Company allotted 25,00,000 No. of equity shares
(both rights and public offer).
- The Company negotiated a borrowing of US 100 million from IFC,
Washington, in two parts - Part `A', a loan of US million from
IFC (W) directly and Part `B', a loan of US million to be
syndicated by IFC (W).
- To commemorate the beginning of the second decade the HDFC, it was
proposed to establish a shelter assistance fund to encourage and
support activities related to shelter problems, in general and to the
needs of the poorer and economically weak sections in particular.
- Forfeiture on 970 No. of equity shares annulled. Issued 14,50,000
No. of equity shares (prem. Rs. 85 per share) to the public and
10,50,000 shares (prem. Rs 75 per share) as rights in December.
- 23,62,500 No. of equity shares allotted on conversion of `B' part
- During the year, the Corporation launched a new deposit product
Easy Way Savings, a unique product providing households with flexible
maturity choice as well as saving profile.
- During the year, the Corporation signed a MOU with General Electric
Corporation of USA, to promote a new joint venture for understanding
the business of Consumer finance. HDFC and General Electric
Corporation, have an equity stake of Rs. 15 crores each.
- The Corporation promoted the educational loan facility to provide
financial support to students pursuing higher education.
- As a joint venture in the GE capital (USA) HDFC promoted a consumer
finance company in March for provision of range of financial product.
- 9,00,000 No. of equity shares of Rs 100 each allotted to ICICI and
UTI on private placement basis.
- 17,86,400 No. of Equity shares of Rs 10 each issued on private
placement basis. Also 50,00,000 Pref. shares were issued to domestic
- During the year, the Corporation undertook to set up its first
Overseas branch office in Dubai.
- The Corporation was one the promoters of ILFSL along with Central
Bank of India and Unit Trust of India.
- The Corporation jointly promoted with State Bank of India (SBI) a
new housing finance Company under the name of Housing Finance &
Promotion Corporation, Ltd. which operate in the eastern and
north-eastern regions with its headquarters at Calcutta.
- A MOU was signed with Bank Papera Sejhtera, Indonesia on the broad
parameters of technical assistance to be provided over a 6 months
- During the year, the Singapore based property management company
Colliers Jardine Holdings Ltd., has entered into a joint venture with
HDFC and Infrastructural Leasing and Financial Services Ltd., to
introduce consultancy services in real estate. The joint venture
be named Colliers Jardine (India ) Ltd. HDFC and IL&FS will
contribute 15% each in the joint venture and the balance 70 per cent
will be held by Colliers Jardine Holdings Ltd., or its nominees.
- During the year HDFC, has firmed up its plans to enter the
insurance industry. The company signed a joint venture agreement
with the Standard Life Assurance Co. of UK, to establish an insurance
company in the country as soon as insurance industry is opened up for
investment. The joint venture agreement was signed on 11 October.
- During the year company issued 50,00,000 - 12.5% Cumulative
Redeemable Convertible Preference Shares of Rs.100 each.
- During the year corporation introduced Flexi-Rate Individual
- During March, HDFC launched India'a first captive auto finance
company named Maruti Countrywide Auto Financial Services Ltd., with
the objective of exclusively financing Maruti Vehicles in India.
This is joint venture between HDFC, Maruthi Udyog & GE Capital
- HDFC Developers, Ltd. and HDFC Investments Ltd. are the wholly
owned subsidiaries of the Company.
- 50,00,000 Cumulative Redeemable Non-convertible pref. shares
redeemed during the year.
- Government of Rajasthan, Infrastructure Leasing and Finance
Services and Housing Development Finance Corporation have signed a
memorandum of understanding in Mumbai to set up Project Development
- The Housing Development Finance Corporation (HDFC), India's premier
housing finance institution, has stepped up its programme to mobilise
deposits in Goa, by setting up an organised network of agents as part
of its efforts to offer safe and attractive deposit options.
- Countrywide Consumer Financial Services (CCFS), a joint venture
between Housing Development Finance Corporation (HDFC) and GE Capital
Services, USA, proposes to raise Rs.20 crore through issue of
non-convertible debentures on private placement basis.
- Housing Development Finance Corporation Ltd. (HDFC) has approached
the Life Insurance Corporation (LIC) for a tri-partite venture along
with Standard Life of Scotland, to tap the market for pension funds.
- The Housing Development Finance Corporation (HDFC) has tied up with
the Rajasthan government to set up a new company.
- Housing Development Finance Corporation (HDFC) has received LAAA,
MAAA and A1+ ratings for its bonds, fixed deposits (FDs) and
short-term debt instruments respectively from ICRA.
- With a 56-per cent share, the Housing Development Finance
Corporation (HDFC) is the market leader in housing finance.
- International Finance Corporation (IFC) is teaming up with Housing
and Development Finance Corporation (HDFC) to create a non-banking
finance company which will provide long-term housing mortgages to the
middle income market in Bangladesh.
- While IFC and HDFC will be founding shareholders in the joint
venture, they will also be joined by the Bangladesh Rural Advancement
Committee and the Delta Insurance Group, an insurance company,
according to the 1997 annual report of IFC which was released on
- The first private sector housing finance company has been
established in Bangladesh with the World Bank signing a deal on
behalf of International Finance Corporation (IFC) to become an equity
partner along with Housing Development Finance Corporation (HDFC) in
recently established Delta Brac Housing Finance Company (DBH) of
- The Housing Development Finance Corporation Ltd. (HDFC) has
introduced a novel loan facility, betterment fee loans to site owners
in revenue layouts within the jurisdiction of Bangalore Mahanagara
- The Housing Development and Finance Corporation (HDFC) is in talks
with an Asian offshore institutional investor for setting up a joint
venture company in anticipation of the government opening up the real
estate sector for foreign direct investment (FDI).
- The Housing Development Corporation (HDFC), one of India's leading
housing finance companies, floated its maiden debenture issue through
the private placement route on 14th July.
- HDFC will enter into a memorandum of understanding for strategic
business collaboration with Chase Manhattan bank.
- Housing Development Finance Corporation (HDFC) and Chase Manhattan
have entered into an agreement where, in the event of the two funds -
India Private Equity Fund and Indocean Financial Holding Ltd.
- The Company and State Bank of India would be entering into a MOU to
set up a Credit Information Bureau jointly in technical and financial
collaboration with Dun & Bradstreet Information Services India Pvt.
Ltd. and Trans Union International Inc. the leading providers of
Business and Credit Information services.
- The Company has informed that, SLAC have acquired an aggregate of
10 lac equity shares from the secondary market.
- The Company has acquired an equity holding of 12.5 per cent in
IndiaConstruction.com, a B2B construction portal promoted by the
Pune-based Construction Portal Pvt. Ltd.
- HDFC's tie-up with the Palmyrah Workers' Development Society
(PWDS), a Tamil Nadu-based NGO has resulted in the formation of the
Indian Association of savings and Credit (IASC), an RBI-recognised
- The Cellular Service provider Orange has tied up with Housing
Development Finance Corporation to offer mobile Internet banking to
- Geojit Securities, has struck an alliance with HDFC Bank for
providing a payment gateway to internet trading clients.
- The Company has opened an office in Kozhikode which is its third
office in Kerala.
- The Company has introduced a home equity loan with a facility to
mortgage property to secure loan for children's education, medical
expenses and other miscellaneous investments.
- The Company has acquired the entire shareholding of Hometrust
Housing Finance Company, a 100 per cent subsidiary of Gujarat Ambuja
Cements and has also acquired 26 per cent additional stake in Gruh
Finance which was held by GACL.
- The Company has acquired the housing finance business of Gujarat
Ambuja Cement Ltd for a total consideration of Rs. 60 crores.
- The Housing Development Finance Corporation and Tata Consultancy
Services signed a memorandum of understanding to set up a 50:50 joint
venture to offer IT-enabled services overseas.
- Crisil has reaffirmed the AAA rating assigned to the company's Rs
1,195-crore bond programme. It has also reaffirmed the FAA rating
given to the corporation's fixed deposit programme and the P1+ rating
assigned to the short-term debt plan.
- The Company proposes to capitalise on the huge real estate
requirement of MNCs as the latter propose to set up retail chains
across the country.
- HDFC has acquired two crore shares in Lafarge India representing
face value of Rs. 20 crore.
- HDFC asset management company is to formally launch its mutual fund
schemes from 20th July.
- A clutch of financial service firms led by HDFC have joined
together and acquired one of the oldest cards on the BSE.
- Housing Development Finance Corporation and the State Bank of India
are setting up an equal joint venture for credit rating of
- ICICI Ltd and HDFC have hiked their housing loan rates by 50 basis
- Amalgamation of Hometrust Housing Finance Company Ltd.
- The Credit Rating Information Services of India Ltd has assigned an
`AAA' rating to the Rs 1,500-crore bond programme of the company.
- VSNL and HDFC have jointly launched online renewal facility for
Internet subscription in Mumbai, New Delhi, Calcutta, Chennai, Pune
- ICRA has assigned `LAA' rating to Hudco Rs 1 billion tax-free and
Rs 5 billion taxable bonds programme.
- Housing loan finance company HDFC Limited targeting the NRIs,
launched a portal `HDFC Reality.com' to provide information on real
estae properties in and around Bangalore city.
- The Insurance Regulatory and Development Authority has granted
registration to HDFC Standard Life Insurance, as the first private
sector life insrnace company in India.
- Mr. Keki Mistry will be the new Managing Director of Housing
Development Finance Corpsoration.
- The Housing Development Finance Corporation has launched a retail
finance scheme, Step Up Repayment Facility, which provides for a
higher loan amount.
- The UB group has tied up with Housing Development Finance
Corporation (HDFC) and Infrastructure Leasing and Finance Services
(IL & FS) to raise Rs.60 crore to part fund the acquisition of
Associated Breweries & Distillers (ABD).
- HDFC has tied up with the Alireza group of Saudi Arabia and the
Jeddah-based Technobuild to provide advisory services to NRIs.
- HDFC has decided to acquire the entire equity holding of its
subsidiary HDFC Holdings in HDFC BAnk.
- HDFC has acquired 133,10,000 equity shares in HDFC Bank from HDFC
Holdings, a 100 per cent subsidiary of HDFC, through internal
- The Housing Development Finance Corporation has launched its
0-million five-year syndicated loan with roadshows beginning in
- HDFC Board approves proposal to set up JV with Chubb Global for
foray into General Insurance business.
- Housing Development Finance Corporation Ltd has on March 20, 2002
allotted 711178 equity shares of Rs 10 each under the Employees Stock
Option Scheme (ESOS).
-Housing Development Finance Corporation Ltd has informed BSE that
the Corporation has purchased 18,00,582 equity shares of Rs 10/- each
of GRUH Finance Ltd, representing 6.79% of its paid up equity capital.
After the said purchase, the holding of the Corporation in GRUH
Finance Ltd aggregates to 1,62,40,604 equity shares of Rs 10/- each,
representing 61.29% of its paid up capital.
-Housing Development Corporation Ltd has on August 7, 2002 allotted
51378 equity shares of Rs 10 each under the Employees Stock Option
-RVS Rao reappointed as Executive Director of Housing Development
-Housing Development Finance Corporation (HDFC) has asked chairman
Deepak Parekh to continue for three more years with effect from March
'03. The service of Renu S Karnad, executive director, has also been
extended for another five years with effect from March 2003.
Besides, the corporation is revising upwards the remuneration package
of its top management, including Mr Parekh, managing director KM
Mistry and two executive directors Ms Karnad and Mr RVS Rao. The
package will be in the range of Rs 80,000 to Rs 4,00,000 per month.
At present, Mr Parekh and Mr Mistry receive a salary of Rs 2,00,000
and Rs 1, 75,000 per month, respectively. Mr Rao and Ms Karnad get Rs
1,50,000 per month.
-HDFC divests its entire stake in Spectramind to Wipro
-Fox-Pitt, Kelton's (FPK) survey on the Asia's Best Managed Banks
identifies Housing Development Finance Corporation (HDFC) as the
second best managed financial institution in India and among best in
-HDFC Asset Management Company (AMC) acquires Zurich Asset Management
-Standard Life Assurance Company hikes stake in HDFC to 14.06 %
-HDFC Realty becomes Wholly owned Subsidiary of HDFC
-HDFC Board approves Arrangement between the Corporation & HDFC Bank
wherein HDFC Bank will source housing loans for the Corporation
-Allotts Secured Non Convertible Debentures (NCD's) of Rs 1 million
each, aggregating to Rs 2500 million on a private placement basis
-Divests shares of HDFC AMC to Standard Life Investment Ltd.
Consequent to the said sale, the Corporation would hold 50.10% of the
total paid up capital of the HDFC AMC and the balance 49.90% would be
held by Standard Life Investments Ltd.
-Inks loan agreement for 0 million with International Finance
Corporation (IFC), the private lending arm of the World Bank
-Cuts home loan rates for fixed-rate loans by about 25 basis points
-Alpine International Ltd., a sub-account of Warburg Pincus LLC,
divests HDFC's 42,50,582 shares reducing its holding to 4.48%
-Share price hits a life time high of Rs 455
-Mr M Narasimham resigns as a Director of the Corporation wef August
-Allotts 3833 Secured Redeemable Non Convertible Debenture (NCDs) of
Rs 1 million each aggregating to Rs 3833 million on a private
-Unveils its 4th branch in Bangalore at Basaveshwaranagar
-Forges alliance with Tally to unveil EDI for Small & Medium
-Allotted 2833 Secured Redeemable Non Convertible Debenture (NCDs) of
Rs 1 million each aggregating to Rs 2833 million on a private
--Tied up with ICICI Bank and SBI for sharing ATM networks
-HDFC unveils innovative housing product
-Becomes the first private corporate to raise Rs 1,000 crore debt in
a single tranche and in a single option
- The Company has received disclosures from Mr. D S Parekh - Chariman
and Mr Susir Kumar - Company Secretary of their acquisitions. The
details are as follows : i) Mr. D S Parekh has on March 02, 2004
acquired 25,000 shares. The mode of acquisition is allotment pursuant
to exercise of options vested under ESOS and his shareholding after
the said acquisition is 3,00,500 shares amounting to 0.1223% of the
voting rights of the company; ii) Mr. Susir Kumar M has on March 02,
2004 acquired 6,800 shares. The mode of acquisition is allotment
pursuant to exercise of options vested under ESOS and his
shareholding after the said acquisition is 6,800 shares amounting to
0.0028% of the voting rights of the company.
-HDFC inaugurated its 16th office in Tamil Nadu and 6th office in
Chennai at the southern suburb of Velachery
-Capital Research acquires 1.38 pc additional stake in HDFC
-HDFC, Elcot sign pact to promote infotech in TN
-Forbes Group ties up with HDFC to set up media firm
-Hudco ties up with Pragati Social Infrastructure & Development Ltd
to float new JV
-HDFC JV unveils Yellow Pages in Ahemedabad
-HDFC and WL Ross team up to invest in Indian corporate turnarounds
- Housing Development Finance Corporation (HDFC) may join hands with
Apollo Hospitals to set up two-three super-specialty hospitals in
- HDFC joins hand with Postal dept on October 10, 2006.
- HDFC launches its operations in London, UK
- HDFC realty fund acquires 10pc in Pune realtor Vascon Engineers
- HDFC joins hands with Apollo to set up hospitals in Mumbai
- HDFC Ltd has forged an alliance with Germany's Ergo International
AG as the new joint venture partner for its general insurance
- HDFC increases its stake in HDFC Asset Management Company
- HDFC emerged as the best 'Investment Management Company’ in India
at the Liquid Real Estate Awards - 2007 organised by EUROMONEY
- HDFC selected as the 'Top Indian Company in FIs / NBFCs / Financial
Services Sector' for the Dun & Bradstreet - American Express Corporate
- HDFC Ltd has announced the opening of a new office at Old
Mahabalipuram Road, Sholinganallur. Opening of this office marks its
7th office in Chennai city and 16th in Tamil Nadu.
- HDFC to spread its network to capture Indian rural market
- HDFC Tie up with Postal Department to extend rural reach
- HDFC First overseas Branch in Bahrain inaugurated
- HDFC launched India's first Rural Banking BPO at Tirupati
- HDFC introduces a special disbursement offer for its New Home
- Housing Development Finance Corporation (HDFC) had increased its
stake in HDFC Bank.
- HFDC offers 8.25 per cent fixed rate for new loans
- HDFC plans to mop up 0 mn via bonds
- HDFC - Agreement to acquire stake in Credila Ltd.
- HDFC hikes stake in HDFC Bank
- HDFC 4000th ATM launched at Vijay Mahal in Mangalore.
- HDFC New Kanjur Marg Office inaugurated
-Company has splits its Face value of Shares from Rs 10 to Rs 2
-HDFC signed MOU with Indian Army for total Salary Solutions
-HDFC 5000th ATM launched at Swami Narayan Chowk, Rajkot
-HDFC Intensive Rural Campaign launched with 1st Mega Loan Mahotsav
Pimpalgaon in Maharashtra
-HDFC First Bank to retail silver bars in India
-HDFC launches ‘Solitaire’ range of women’s Credit Cards
-HDFC Bank and Vodafone India launch m-paisa – a product for
-Leh Branch launched
-HDFC launches Tax payment facility through ATM
-Bouquet of premium Travel Credit Cards launched
-HDFC launches INFINIA Credit Card
-HDFC 2000th Branch inaugurated at Mangaliya Sadak near Indore