HDFC’s individual loan disbursements jumps 26% in Q3FY21

Individual loan business continues to improve in Jan-Mar: HDFC

New Delhi: Housing Development Finance Corporation (HDFC) on Monday reported a healthy rise of 26 per cent in the individual loan category during the third quarter of FY21.

“The individual loan business continued to see improvements during the quarter ended December 31, 2020. Disbursement growth over the corresponding quarter of the previous year was 26 per cent. Individual loans sold in the preceding 12 months amounted to Rs 16,956 crore, HDFC Ltd said in a regulatory filing.

For the nine months ended December 31, 2020, individual loan disbursements stood at 86 per cent of the levels in the corresponding period of the previous year, it said.

During the quarter ended December 31, 2020, the profit on sale of investments was Rs 157 crore, it said, adding this was on account of the sale of 25,48,750 equity shares of HDFC Life Insurance Company Limited (HDFC Life).

HDFC’s shareholding in HDFC Life now stands at 49.99 per cent. This has met the RBI’s mandate of reducing its shareholding in HDFC Life to 50 per cent or below by December 16, 2020, it added.

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