Page 2 - Housing Finance

RBI imposes Rs 1.12 cr penalty on Bank of Maharashtra for non-compliance

Separately, the central bank has imposed a penalty of Rs 25 lakh on The Haryana State Co-operative Apex Bank, Chandigarh for contraventions with RBI directions on housing finance

Poonawalla Fincorp AUM grows 17% to Rs 16,575 crore in FY22

The finance company has set a target of having AUM of about Rs 45,000 crore by 2025.

NBFCs, housing finance firms need Rs 2.2 trn in fresh funds in FY23: ICRA

Rating agency in its report said the entities have worked to diversify sources of funds, even if the money came at a higher cost

Housing finance players loan portfolio to grow at 8-10% in FY22: Report

Going forward, the growth trend is expected to continue, driven by healthy demand in the industry, increasing level of economic activity and increasing vaccination in the country, Icra ratings said

Homebuyers get respite as Delhi HC restrains coercive action on EMIs

The Delhi High Court has restrained banks and housing finance companies from taking any coercive action to recover EMIs from homebuyers over incomplete projects on a plea by a group of homebuyers.

HDFC Capital raises nearly $1.8 bn fund for affordable housing financing

HDFC Capital, a wholly-owned subsidiary of HDFC Ltd, has achieved the initial close of its third fund of $1.88 billion (about Rs 13,500 cr) focused on affordable housing.

Housing finance co, 8 NBFCs surrender certificates of registration to RBI

The eight NBFCs too cannot carry out the business of non-banking financial institutions

Housing finance majors likely to outperform in December quarter

Among others, vehicle financiers are expected to post sequential growth

HFCs report 7.4% rise in Q2 net profit; net operating income up by 15.1%

Sequentially, 10 listed HFCs booked a 26.1 per cent growth in net profit over Rs 3,975 crore in June 2021 (Q1 of FY22)

Godrej Industries buys stake in housing finance arm for Rs 406 crore

Fair value of assets & liabilities acquired have been determined provisionally based on independent valuation report; goodwill of Rs 294.50 crore has been recognised

Strides will get bigger on the home run

Backed by economic revival, record low interest rates and stable prices, India's residential real estate market is set to see growing demand

Next quarter onwards, hope to see positive growth: PNB Housing Finance CEO

On the retail side, for eight quarters, our portfolio shrank, but this quarter has witnessed flat growth, said CEO Prasad

Home loans grew 76% to Rs 79,043 crore in March quarter, shows data

Property loans also showed 21.9 per cent expansion at Rs 23,418 cr against Rs 19,207 cr in Q4FY20

Home First Finance Q2 net profit rises 213%, total income up 34%

The total income grew 34 per cent to Rs 146 crore in Q2FY22 from Rs 109 crore a year ago.

LIC HF stock sheds 7.3% as Q2 disappoints, but some silver lining too

Stock fell 7.3% on Friday, but some analysts remain bullish on the firm

LIC Housing Finance Q2 net down 69%; impairment expenses rise sharply

Its stock closed 1.1 per cent higher at Rs 440.35 per share on BSE

Affordable housing finance cos loan book grows 10% in June: Report

The AHFC industry's reported gross NPA/Stage 3 (excluding data for one player) stood at 2.1 per cent as of June 30, 2021

Piramal Capital & Housing Finance acquires DHFL via reverse merger

Piramal Enterprises on Friday said its subsidiary, Piramal Capital & Housing Finance Limited (PCHFL), has merged with debt-ridden Dewan Housing Finance (DHFL) after paying Rs 34,250 crore to the creditors of the troubled housing finance company. PCHFL has merged into DHFL with effect from September 30, 2021 pursuant to the reverse merger as contemplated under scheme of arrangement provided under the resolution plan, Piramal Enterprises said in a regulatory filing. "Consequent to the Reverse Merger, DHFL shall issue such number of equity shares to the shareholders of PCHFL i.e. to Piramal Enterprises Limited (PEL), in accordance with the scheme of arrangement provided under the resolution plan," it said. Upon allotment of equity shares to PEL, DHFL will become a wholly-owned subsidiary of PEL, it said, adding, Piramal Enterprises Limited will acquire 100 per cent of the equity share capital in DHFL. "The acquisition is in line with a strategic roadmap to transform and expand ...

GIC Housing Finance's bad loans spike to 11.4% in Q1, solvency weakens

The deterioration in the asset quality would further impact GICHF's earnings profile, and consequently, its internal capital generation

At Rs 2,887 crore, Authum is top bidder for Reliance Housing Finance

subsidiary of Reliance Capital, the firm had defaulted on Rs 11,000 crore of loans and lenders had sought bids from investors