Housing Development Finance Corporation
"With You, Right Through"
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| Public company | |
| Traded as | : : HDFC BSE SENSEX Constituent CNX Nifty Constituent |
| Industry | Financial services |
| Founded | 1977 |
| Founder | Hasmukhbhai Parekh |
| Headquarters | Mumbai India |
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Area served
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India |
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Key people
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Deepak Parekh (Chairman) Keki Mistry (Vice Chairman & CEO) Renu Sud Karnad (MD) |
| Products | Mortgage Loans |
| Revenue |
 US$ 4.63 Billion (2016) |
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US$ 1.06 Billion (2016) |
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Number of employees
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2081 (March 2015) |
| Website | www.hdfc.com |
Housing Development Finance Corporation Limited or HDFC is an Indian financial conglomerate based in Mumbai, India. It is a major provider of finance for housing in India. It also has a presence in banking, life and general insurance, asset management, venture capital and education loans.
It was founded in 1977 as the first specialised mortgage company in India. HDFC was promoted by the Industrial Credit and Investment Corporation of India.Hasmukhbhai Parekh played a key role in the foundation of this company.
In 2000, HDFC Asset Management company launched its mutual fund schemes. In the same year, IRDA granted registration to HDFC Standard Life Insurance, as the first private sector life insurance company in India.
The company provides housing finance to individuals and corporates for purchase/construction of residential houses. It is one of the largest providers of housing loans in India. In its Annual Report for financial year 2012-13, the company has disclosed that it has disbursed approx. INR 456,000 crores in 35 years of its existence for a total of 4.4 million housing units.
The average loan profile amounts to INR 2.18 million (US$ 35,160) which lasts for about 13 years and covers approx. 65% of actual property value.hdfc bank has 12,054 Atm and 4281 branches in india.
The company has been providing life insurance since the year 2000, through its subsidiary HDFC Standard Life Insurance company Limited. It offers 33 individual products and 8 group products. It uses the HDFC group network to cross sell by offering customized products. It operates out of 451 offices across India serving over 965 locations. It had a market share of 4.6% of life insurance business in India as of 30 September 2013. HDFC Life has over 15,000 employees.
The company offers general insurance products such as:
HDFC provides mutual fund services through its subsidiary HDFC Asset Management Company Limited. The average Assets Under Management (AUM) of HDFC Mutual Fund for the quarter Jul-13 to Sep-13 was INR 1.03 trillion.
HDFC's distribution network spans 396 outlets (including 109 offices of HDFC's distribution company HDFC Sales Private Limited) which cater to approx. 2,400 towns and cities spread across India. To cater to Non-Resident Indians, HDFC has offices in London, Singapore and Dubai and service associates in Middle East countries.
In addition, HDFC covers over 90 locations through its outreach programmes. HDFC's marketing efforts continue to be concentrated on developing a stronger distribution network. Home loans are also sourced through HDFC Sales, HDFC Bank Limited and other third party Direct selling Agents (DSA).
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