HDFC is unlikely to cut its interest rates following RBI's policy rate cut of 25 bps. "Unless borrowing cost comes down and liquidity eases, rate cuts are unlikely to happen," Keki Mistry, chief executive officer, told moneycontrol.com.
The National Housing Bank (NHB), the regulator for housing finance companies in India is ramping up its efforts on affordable housing, typically priced below Rs 25 lakh. It has almost finalised the scheme for Urban Housing Fund (UHF) of Rs 2,000 crore, recently announced in the Union Budget 2013.
Keki M Mistry, VC and CEO, HDFC explains on CNBC-TV18 that there is an increased likelihood of a RBI cut in rates in January 2013 and across India, realty prices have moved in line with inflation.
LIC India promoted LIC Housing Finance (LICHF) has embarked on a three-pronged strategy to attain a net interest margin in the range of 2.5-2.7% in 2012-13. Net interest margin or the different between interest earned and paid out stood at 2.10% in Q2, FY13 compared with 2.18% in Q1, FY13.
Keki Mistry, Vice Chairman & CEO of HDFC however, feels that borrowing rates will not go down.
Keki Mistry, vice chairman and chief executive officer, HDFC told CNBC-TV18 that the slew of reforms announced the government are very positive and have helped India avoid the possibility of a downgrade.
India's top mortgage lender Housing Development Finance Corp fell 1.7 percent in pre-open trade as US private equity firm Carlyle Group is set to sell a 3.7 percent stake to raise as much as USD 861 million, according to a term sheet.
Mortgage lender HDFC on Tuesday met the market expectation in its first quarter results. However, a section of market participants are a bit apprehensive of the quality of retail assets. In an interview with moneycontrol.com the lender‘s vice-chairman and CEO - Keki Mistry sounded confident of its retail home loan portfolio.
Keki Mistry, vice chairman & chief executive officer, HDFC, says that the downgrade fear is exaggerated.
Keki Mistry, vice-chairman and CEO, HDFC clarifies to CNBC-TV18 that the cut in weightage is inaccurate and plans to talk to MSCI about reversing the cut.
India‘s biggest mortgage lender‘s fourth quarter profit rose 16%, beating analysts‘ estimates, as demand for home loans in Asia‘s third-largest economy remained robust. Net profit increased to Rs 1,326 crore in the three months ended March, from nearly Rs 1,142 crore a year earlier.
The quantum of Reserve Bank of India (RBI)‘s latest repo rate cut has not just surprised market watchers but even veteran bankers like Deepak Parekh.
Vice chairman and chief executive of HDFC, Keki Mistry tells CNBC-TV18 that PE firm Carlyle Group's stake in the bank has been pared down to over 3% after the sale of 2 crore shares.
Mortgage lender HDFC's vice chairman & CEO Keki Mistry understands that people are worried about high interest rates and its impact on home loan borrowers.
HDFC Chairman Deepak Parekh hit out against the Opposition and the coalition parties and said their style of politics is hurting India's growth. Speaking to Karan Thapar on Devil's Advocate, Parekh praised Prime Minister Manmohan Singh for his efforts and called him the cleanest Prime Minister.
The Reserve Bank of India (RBI) on Monday released the Usha Thorat committee report on non-banking finance companies (NBFCs). Keki Mistry, vice chairman and chief executive officer (CEO), HDFC said, he doesn’t see any impact of this on the company. “We are not NBFC. We are a housing finance company,” he added.
After passing the June rate hike, HDFC's vice chairman and CEO, Keki Mistry hints the 50 basis point rate hike by the central back this July may be passed on to the borrowers.
In a CNBC-TV18 exclusive, the National Housing Board (NHB) which is the regulator for housing finance companies and has taken a decision to start introducing some provisioning of standard good assets of housing finance companies.
Britain's Serco is to buy Indian outsourcing company Intelenet for up to 385 million pounds (USD 634 million) as part of a drive into higher-growth overseas markets. Sushir Kumar, CEO, Intelenet speaks about the deal.
Speaking exclusively to CNBC-TV18, Keki M Mistry, Vice Chairman and CEO, HDFC said the firm has a target to maintain spreads at 2.15-2.35%.
The rising interest rates do not seem to be a hurdle for the mortgage lender HDFC that sees its loan book growing at 20% year-on-year in 2011-12.
Though not happy with the central bank’s move, Deepak Parekh, chairman of HDFC spoke about how inflation needs to be tackled along with growth of economy.