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Monday, October 22, 2012

HDFC Q2 net up 18.5% at Rs 1,151 cr

Individual loan borrowings lifted Housing Development Finance Corporation’s (HDFC) net profit 18.5 per cent to Rs 1,151 crore in the second quarter ended September 30, 2012.

In the corresponding quarter of 2011, India’s largest private housing loan lender earned a net profit of Rs 970.70 crore.

For the half year ended September 30, 2012 the loan book stood at Rs 1,55,128 crore against Rs 1,26,992 crore a year ago.

“About 78 per cent of the increase in loan book was because of individual loans and the rest came from non-individual loans,” Keki Mistry, Vice-Chairman and CEO, said.

Realty prices

There will be no crash in real estate prices as the demand far outpaces supply, Mistry said.

“My own view is that there will be no crash in real estate prices as in a country like India as the demand is far greater than supply,” he said.

If there is a considerable increase in supply of houses, then housing prices might see a correction, he said.


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