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30 October 2007

HDFC – A Brief Profile

Incorporated in 1977, HDFC the pioneer of housing finance in India has assisted more than 3 million families to own a home of their own, through housing loan approvals of over Rs.1,647 billion. It has consistently striven for and developed an excellent reputation for professionalism, integrity and an impeccable record of customer friendly services.It has turned the concept of housing finance for the growing middle class in India into a profitable, professionally managed, world class enterprise.

Loan approvals during the six-month period ending September 30, 2007 amounted to Rs. 18,948 crore as compared to Rs. 14,729 crore, in the corresponding period last year, representing a growth of 29%. Loan disbursements during the period ending September 30, 2007 amounted to Rs.14,275 crore as compared to Rs. 11,280 crore in the corresponding period last year, representing an increase of 27%.

HDFC has a market capitalisation of around Rs 750 billion. Foreign Equity Holding in HDFC is around 80%. The HDFC group has an asset base of over Rs 2,000 billion and a customer base of over 17 million.

HDFC now has a wide network of over 243 outlets, reaching out to over 2400 towns and cities all over India. It also has an international office in Dubai, U.A.E. and service associates in Kuwait, Oman, Qatar, Saudi Arabia and Bahrain to service Non-Resident Indians. It has recently launched its operations in London to provide assistance to NRIs and PIOs to buy a house back in India.

HDFC has been described as a model housing finance company for developing countries with nascent housing finance markets. It has provided technical assistance in Bangladesh, Sri Lanka and Egypt and has undertaken consultancy assignments in various countries across Asia, Africa and East Europe.

It has been recognized among India’s Best Managed Companies and today has emerged as a financial conglomerate by promoting a bank, insurance companies (for life and general), an asset management company, a realty company, a credit bureau and a real estate venture capital company.


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