The corporation had assigned loans amounting to Rs 7,468 crore in the corresponding quarter of the previous year, HDFC Ltd said in a regulatory filing.
HDFC Q1: The increase in net profit came on the back of a healthy 16.9 percent growth in assets under management that helped net interest income jump by 7.8 percent.
Despite increased competition in the mortgage financing space over the past many years with the entry of new players and greater focus by banks on this segment, HDFC is gaining market share at an accelerated pace
The country's largest mortgage lender will offer coupon rate of 6 per cent per annum on the bonds, the issue for which opens on May 28, 2021.
"The board has approved issuance of secured redeemable non-convertible debentures (NCDs) aggregating to Rs 35,000 crore on private placement basis," HDFC said in a regulatory filing on stock exchanges.
"The corporation has completed the fourth issue of rupee denominated-bonds to overseas investors of issue size Rs 500 crore," HDFC said in a regulatory filing to stock exchanges.
The company proposes to issue secured redeemable NCDs of face value of Rs 1,000 each aggregating up to Rs 4,000 crore, DHFL Chairman and Managing Director Kapil Wadhawan said.
The housing finance firm will be issuing secured redeemable NCDs of face value of Rs 1,000 each aggregating up to Rs 4,000 crore, the company said in a statement here. The issue size is Rs 1,000 crore with an option to retain over-subscription up to Rs 4,000 crore, it said.
Loan book outstanding grew 18.32 percent to Rs 63,646.6 crore during the quarter as against Rs 53,795.7 crore in the corresponding quarter a year ago.
"The company on August 11, 2015, acquired 50 percent equity stake in Pramerica Asset Managers Private Limited, the asset management company of Pramerica Mutual Fund, and Pramerica Trustees Private Limited, the trustee for the Pramerica Mutual Fund, from PGLH of Delaware (Prudential)," it said in a BSE filing.
A sharper increase in the income levels, as compared to the housing prices, has brought down the affordability ratio to 4.4: HDFC
The company's total income in the fourth quarter of last fiscal rose to Rs 1,582.47 crore, from Rs 1,417 crore in the year-ago period.
Keeping in view of the sluggish rise in collection, the government had revised downwards its target at Rs 7,05,000 crore for the current fiscal, after initially having budgeted Rs 7,36,000 crore in the direct tax mop-up.
Housing finance provider company‘s non-retail loan book stands at is 30 percent, out of which corporate loans comprise 11 percent, construction finance, 13 percent and lease rental discounting, 6 percent
HDFC has always talked of a loan growth of around 18-20 percent. Since it has seen much higher growth in the past, Keki Mistry Vice Chairman & CEO hopes to grow at a higher rate.
HDFC's quarterly results have continued the same trend like the previous quarters as their loan growth has been healthy, says Vaibhav Agrawal of Angel Broking.
Mortgage lender Dewan Housing Finance Corporation (DHFL) today increased its retail prime lending rate (RPLR) by 25 basis points to 17.75%.
Housing Development Finance Corp (HDFC), India's largest mortgage lender, aims to post an average of 20% annual growth in new lending in coming years, its chief executive said, despite surging interest rates and competition.
Mortgage lender LIC Housing Finance expects its net interest margin to contract to 2.5-2.7% in the current financial year from 3.08% a year earlier on higher interest rates, a senior official said on Thursday.