Housing Development Finance Corporation Limited:
Housing Development Finance Corporation Limited is offering financial assistance for housing to different individuals, as well as, the corporate and business holders. The company provides fixed deposits and other financial services, such as non-cumulative interest, yearly income plans, and month basis income plans. The company also provides cumulative options for finances and trust deposits too. The financial institution is generally known as HDFC.
Housing Development Finance Corporation Limited also provides different sorts of loans, to their customers, such as home loans, home development loans, and the loans for the extension of the houses. Apart from that, the company also provides loans for buying plots and also agricultural loans to the planters, agriculturists, dairy farmers, and horticulturists.
Housing Development Finance Corporation Limited also provides loans against intellectual property, assets, and plots. The company even accepts the nonresidential premises as assets for giving loans. The company also provides several sorts of insurances. The company was set up in 1977 and is headquartered in Mumbai.
About Company Information:
In 1977, Housing Development Finance Corporation Limited started its business operations with an initial capital of 100 million this year. During 1979 to 1981, the Housing Development Finance Corporation Limited had arrived with HDFC deposit certificate scheme, helping plenty of citizens to acquire the ownership of their places. In 1981 the company inaugurated its maiden product of retail deposit. In the same year, the company promoted their subsidiary company named HDFC developers which had been completely owned by the organization.
During the year 1982 to 1985, Housing Development Finance Corporation Limited had arrived with the LOC that stands for Line of Credit Products. In 1985 the company followed the Bausparkassen model and arrived with the Home Savings Plan as well as the Step-up Repayment Facility.
In 1988, the company, along with several top-level financial institutions of India, promoted the Gujarat Rural Housing Finance Corporation Ltd, SBI Home Finance and many more financial institutions, who operate in the regional sections. In the same year, the organization arrived with the Telescopic Loan Plan and some loan products which were provided to the customers for the short term loans.
During 1989 to 1991, Housing Development Finance Corporation Limited arrived with two more products, namely Home Improvement Loans and Home Extension Loans. In 1990, the company collaborated with the centres of the United Nations for human settlements. This joint venture had promoted the collaboration of all the institutions, who were pursuing financial business operations, across Asia. In 1991, the company again launched products related to retail fixed deposit.
During 1997 to 1998, a promotion had been offered by Housing Development Finance Corporation Limited, to the Bangladesh-based finance company, namely Delta Brac Housing Finance Corporation Ltd. In 1998, the organization collaborated with a south Indian NGO and launched the first-ever institution for micro-finance, which operated the south Indian states of Kerala and Tamil Nadu. The organization had arrived with loans for Home equity.
A credit information bureau was formed, resulted since a Memorandum of Understanding was signed between the company and State Bank of India, with technological support from Trans Union International Inc. and Dun & Bradstreet Information Services India Pvt., in 2000.
In 2016, a merger took place between Housing Development Finance Corporation Life and the Max Group, to launch a business of life insurances. In this year, two of the company’s subsidiaries, dealing with the general insurances, received the approval of the Indian government. In the same year, the HDFC ERGO had acquired all the shares of the insurance company L&T, in exchange of Rs.551 crores.
In 2017, Housing Development Finance Corporation Limited recorded their 439 outlets. In the same year, the company approved the sale of the 100% capital share of the HDFC developers Limited to Quikr India. In the same year, by an announcement from the Board of Directors of the company, subscriptions of the securities, offered by HDFC bank, were accepted.
How HDFC categorised under Finance Sector and Housing industry:
The Finance sector is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
Housing Development Finance Corporation Ltd comes under Finance - Housing, Speciality Finance Industry. Speciality finance is nothing but the financing activity that's taking place outside the regular banking system. Typically, specialty finance firms are non-bank lenders that offer loans to consumers and small to midsize companies that cannot otherwise acquire financing. Specifically, consumer speciality finance includes auto finance, housing loans, collection, alternative financial services, credit card, and mortgage companies.
HDFC’s Competitors and Sector Peers:
Aavas Financiers Ltd, AUHOUF
Akme Star Housing Finance Ltd, AKMSTA
Can Fin Homes Ltd. CANFIN
Coral India Finance and Housing Ltd, CORIND
Dewan Housing Finance Corporations Ltd DHFL
GIC Housing Finance Ltd, GICHOU
Hindustan Housing Company Ltd, HINHOU
Housing and Urban Development Corporation Ltd, HOUUR
Ind Bank Housing Ltd, INDBAN
India Home Loan Ltd, MANOHO
Indiabulls Housing Finance Ltd, INDIHO
International Housing Finance Corporation Ltd, INTERH
LIC Housing Finance Ltd, LICHOU
Manraj Housing Finance Ltd, MANRHO
Mehta Housing Finance Ltd, MEHHOU
PNB Housing Finance Ltd, PNBHOU
Reliance Home Finance Ltd, RELHOF
Repco Home Finance Ltd, REPHOM
Sahara Housingfina Corporation Ltd, SAHHOU
SRG Housing Finance Ltd, SRGHOU
Vax Housing Finance Corporation Ltd, VAXHOU