homevideos Newsreal estate NewsWe will continue to focus on affordable housing segment, says HDFC CEO Keki Mistry
We will continue to focus on affordable housing segment, says HDFC CEO Keki Mistry
Housing Development Finance Corporation (HDFC) reported a net profit of Rs 3,961.5 crore, which was up 60.6 percent versus Rs 2,467.1 crore year on year.
Detailing the numbers, Keki Mistry, Vice Chairman and CEO, HDFC, said the firm's total loan approvals increased by 14 percent for individual loans during this period and disbursements increased by 12 percent. So the approval growth was 14 percent and disbursement growth was 12 percent.
“On AUM basis, our total loan book growth was 13 percent. However, the 13 percent growth was largely lower because of non-individual loans. We had 17 percent growth on AUM basis for individual loans,” Mistry stated.
During the quarter, HDFC sold loans aggregating to Rs 7,160 crore and in the last 12 months, it has sold loans aggregating to Rs 23,767 crore. If it had not sold these loans, then the growth in individual loan book would have been 24 percent and growth in overall loan book would have been 18 percent.
HDFC continues to focus on affordable housing segment, which continued to perform well, said Mistry. Talking about the number of new loans they gave in Q2, he said, “As much as 36 percent of the loans that we give in numbers were to borrowers who are either in economically weaker sections or lower-income group. In value terms it was 18 percent.”
First Published: Nov 4, 2019 4:36 PM IST
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