HDFC Ltd

Mortgage lender HDFC Ltd on Tuesday said it has reported a 11.6 per cent rise in loans at Rs 9,340 crore in the March quarter. The corporation had assigned (sold) loans amounting to Rs 8,367 crore in the year-ago period, HDFC Ltd said in a regulatory filing. Individual loans sold in the preceding 12 months were Rs 36,910 crore as against Rs 28,455 crore in the corresponding quarter of the previous year, it said. Gross income from dividend for the quarter ended on March 31, 2023 was Rs 207 crore as compared to Rs 128 crore, it said. During the quarter ended on March 31, 2023, it said, there was no sale of investments in subsidiary/associate companies.

Mortgage lender HDFC Ltd on Friday said its board would consider raising funds through non-convertible debentures (NCDs) in tranches aggregating to Rs 57,000 crore. "A meeting of the Board of Directors of the Corporation is scheduled to be held on Monday, March 27, 2023 to consider issuance of unsecured redeemable nonconvertible debentures, in various tranches, under a Shelf Placement Memorandum, aggregating Rs 57,000 crore on a private placement basis...," HDFC said in a regulatory filing. The approval for this was granted by the shareholders at the 45th Annual General Meeting held on June 30, 2022, it said. It is expected that the parent HDFC Ltd would merge into subsidiary HDFC Bank by the third quarter of the next financial year. Termed as the biggest transaction in India's corporate history, HDFC Bank on April 2022 agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40 billion, creating a financial services titan. The proposed entity will ha

However, lender has a limited period festive season offer, under which borrowers with credit scores of 760 and above can get home loans at 8.7% till March 31

The management said the final hearing of NCLT, regarding the merger with HDFC, would take place on January 27, 2023, post which regulatory process will remain to be undertaken.

Mortgage lender HDFC Ltd on Tuesday said it has assigned (sold) 19 per cent higher loans to the tune of Rs 8,892 crore in the third quarter ended December 2022. 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. "All the loans assigned during the quarter ended December 31, 2022, were to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank," it added. Loans sold in the preceding 12 months amounted to Rs 35,937 crore against Rs 27,591 crore in the year-ago period. Gross income from the dividend for the quarter ended December 31, 2022, was Rs 482 crore compared to Rs 195 crore a year ago, it added. During the December 2022 quarter, the profit on the sale of investments was nil, the mortgage lender said. Last April, the country's largest private lender HDFC Bank agreed to take over the biggest domestic mortgage lender in

The bank has already received the approval of the equity shareholders, which includes public shareholders, to the proposed merger scheme

Life Insurance Corporation of India (LIC), the country's largest insurer, has increased its stake in HDFC Ltd to over 5 per cent following the acquisition of shares from the open market. LIC purchased 1.2 lakh shares from the open market hiking its stake in the company to 5.003 per cent, mortgage lender HDFC Ltd said in a regulatory filing on Monday. LIC in a separate filing said the holding increased from 4.991 per cent to 5.003 per cent, an increase of 0.012 per cent at an average cost of Rs 2,673.84 per unit. The insurer made the purchase on December 2, 2022, it added. LIC purchased additional shares at a total cost of about Rs 57.2 crore. Shares of the HDFC closed at Rs 2,674.95, up by 0.35 per cent on the BSE. Before the acquisition, LIC held over 9.09 crore shares representing 4.991 per cent stake in the company. Earlier in April, HDFC Ltd decided to merge with its banking subsidiary HDFC Bank. Touted as the biggest transaction in India's corporate history, HDFC Bank on April

It will be a $7.5 trillion economy within 5 years, says chairman of HDFC Ltd

Shifted from quarterly reset for individual loans to monthly one

Mortgage lender HDFC Ltd on Thursday said its consolidated net profit increased by 24 per cent to Rs 7,043 crore in the September 2022 quarter. It had reported a Rs 5,670 crore net profit in the year-ago period, HDFC said in a regulatory filing. Its total income on a consolidated basis rose to Rs 43,927 crore in the said quarter from Rs 38,603 crore a year ago. On a standalone basis, its net profit increased by 18 per cent to Rs 4,454 crore from Rs 3,780 crore a year back. The total income (standalone) rose to Rs 15,036 crore from Rs 12,226 crore in the same quarter last year. The net interest income (NII) for the second quarter stood at Rs 4,639 crore compared to Rs 4,110 crore in the previous year, representing a growth of 13 per cent. Net interest margin stood at 3.4 per cent at the end of the September quarter.

Shares of LIC Housing Finance today slipped below the 200-WMA after falling over 10 per cent. Now, four out of five leading housing finance stocks are trading below the 200-WMA.

Currency's depreciation not a reflection of the economy, says HDFC Ltd chairman

HDFC Bank reported a 20.1 per cent year-on-year increase in net profit to Rs 10,605.8 crore in July-September

Mortgage lender HDFC Ltd on Friday hiked its lending rate by 50 basis points hours after the Reserve Bank raised the benchmark interest rate to tame inflation. The move would increase EMIs for housing loans by the firm. "HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from October 1, 2022," the country's biggest housing finance company said in a statement. This is the seventh rate increase undertaken by HDFC in the last five months. Other financial institutions and banks are also expected to follow suit after the RBI on Friday raised the key interest rate by 50 basis points, the fourth straight increase since May. The Monetary Policy Committee (MPC), comprising three members from the RBI and three external experts, raised the key lending rate or the repo rate to 5.90 per cent -- the highest since April 2019 -- with five out of the six members voting in favour of th

The Mumbai office will target investments in India across all asset classes, including public and private equities, infrastructure, real estate, credit and venture and growth equity

Currently, variability in performance for investor portfolios over five-year horizon is low

Societe General bought shares worth Rs 469 cr, Integrated Core Strategies bought shares worth Rs 287 cr and Norges Bank bought shares worth Rs 234 cr

Bond yields fall as HDFC's Rs 10,000 crore debt sale plan propels custodian flows

Defence stocks, such as Bharat Electronics, Mazagon Dock Shipbuilders, and Cochin Shipyard, logged strong gains last week amid buying interest from wealthy investors

The proposed combination envisages the merger of HDFC Investments and HDFC Holdings with HDFC Ltd in the first step and subsequently, the merger of HDFC Ltd into HDFC Bank.