ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter

Housing Development Finance Corp. Ltd.

Company Background

Housing Development Finance Corp., known as HDFC, is a major home financing company. It is the main company of the HDFC group, an Indian financial conglomerate. Its mainstay business is housing loans. The company has more than 350 offices across India, covering some 2,000 towns and cities.

The company was founded in 1977 with the backing of India's business community. It aimed to solve the housing shortage in the country. HDFC kept expanding steadily and began offering housing loans on the Internet in 2000, becoming the first home financing company in India to do so. In 1996, it set up its first overseas office in Dubai. In the 2000s, it opened offices in London and Singapore.

In 1994, the company founded HDFC Bank. In 2000, the bank acquired Times Bank, marking India's first merger between private banks. It is known for its sound financial standing and high growth among Indian's commercial banks. All shares in HDFC are owned by institutional investors and individual market players.

Business Summary

Housing Development Finance Corp. Ltd. engages in provision of housing financing. The company's offerings include loans for purchase and construction of a residential unit, purchase of land, home improvement loans, home extension loans, non-residential premise loans for professionals and loan against property and repayment options include step-up repayment facility and flexible loan installment plan. It operates in India, Kuwait, Oman, Qatar, Saudi Arabia, Singapore, United Arab Emirates and United Kingdom. The company was founded by Hasmukh Thakorda Parekh on October 17, 1977 and is headquartered in Mumbai, India.

Financial Highlights

Mar 2020 INRUSD
Gross Profit914,136.50M12,892.23M
Operating income109,718.80M1,547.38M
Income before tax204,471.50M2,883.69M
Net income214,345.70M3,022.95M
Diluted EPS123.201.73
Dividends Per Share210.29
Total Assets7,298.14B96,470.96M
Total liabilities5,959.78B78,779.72M
Total equity1,264.79B16,718.71M
Operating cash flow122,559.90M1,728.48M
Currency in INRCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 537,148.50M 613,955.30M 794,349M 916,886.50M 1,019.47B
Gross Profit 274,145.10M 368,761.10M 352,890.50M 824,424.30M 914,136.50M
Operating income 184,628.90M 126,803.10M 103,072.90M 151,428.10M 109,718.80M
Income before tax 116,129.70M 126,495.50M 162,072.50M 147,091.40M 204,471.50M
Net income 101,049.50M 109,048.50M 119,799M 162,317.60M 214,345.70M
EBITDA 253,430.70M 348,205.10M 298,306.20M 370,426.60M 393,536.70M
Diluted EPS 63.59 68.30 73.85 94.65 123.20
Dividends Per Share 17 18 20 21 21
Total Assets 3,978.04B 4,741.37B 5,666.09B 6,608.75B 7,298.14B
Total liabilities 3,445.77B 4,106.05B 4,697.41B 5,428.96B 5,959.78B
Total equity 509,006.80M 600,593.10M 918,732.60M 1,117.33B 1,264.79B
Operating cash flow -197,104.10M -141,730.90M 32,375.60M 95,509.80M 122,559.90M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 8,204.39M 9,155.71M 12,321.97M 13,109.10M 14,377.84M
Gross Profit 4,187.28M 5,499.21M 5,474.05M 11,787.13M 12,892.23M
Operating income 2,820.01M 1,890.97M 1,598.87M 2,165.03M 1,547.38M
Income before tax 1,773.76M 1,886.38M 2,514.07M 2,103.02M 2,883.69M
Net income 1,543.42M 1,626.20M 1,858.32M 2,320.72M 3,022.95M
EBITDA 3,870.89M 5,192.66M 4,627.33M 5,296.14M 5,550.11M
Diluted EPS 0.97 1.01 1.14 1.35 1.73
Dividends Per Share 0.25 0.26 0.31 0.30 0.29
Total Assets 60,070.86M 73,017.22M 86,874.34M 95,398.78M 96,470.96M
Total liabilities 52,033.31M 63,233.30M 72,022.30M 78,368.32M 78,779.72M
Total equity 7,686.31M 9,249.14M 14,086.30M 16,128.92M 16,718.71M
Operating cash flow -3,010.56M -2,113.58M 502.21M 1,365.54M 1,728.48M

Valuation Measures

Mar 2020
Operating margin10.76%
Profit margin21.02%

Key executives

  • Managing Director & Executive Director: Renu Sud Karnad
  • Vice Chairman & Chief Executive Officer: Keki M. Mistry
  • Chief Information Technology Officer: R. Arivazhagan
  • Senior General Manager-Resources: Dilip K. Shetty
  • National Head-Self Employed Business & Loan: Rajeev Sardana


  • Life Insurance Corp of India (5.2%)
  • Invesco Advisers, Inc. (3.6%)
  • The Vanguard Group, Inc. (3.3%)
  • GIC Pte Ltd. (Investment Management) (3.0%)
  • SBI Funds Management Pvt Ltd. (2.6%)
  • Baillie Gifford & Co. (2.2%)
  • JPMorgan Asset Management (UK) Ltd. (1.9%)
  • BlackRock Fund Advisors (1.9%)
  • Fidelity Management & Research Co. LLC (1.4%)
  • T. Rowe Price International Ltd. (1.2%)

Contact Details

  • Website:
  • Address: HDFC House, H. T. Parekh Marg, Mumbai, 400020, India
  • Phone: +91.22.66316000

Related Companies

  • HDFC Investment Trust - II
  • HDFC Investment Trust
  • HDFC Asset Management Co. Ltd.
  • HDFC Capital Advisors Ltd.
  • HDFC Life Insurance Co. Ltd.
  • Griha Pte Ltd.
  • HDFC Venture Capital Ltd.
  • HDFC Education & Development Services Pvt Ltd.
  • HDFC Ventures Trustee Co. Ltd.
  • HDFC Property Ventures Ltd.
  • HDFC Sales Pvt Ltd.
  • HDFC Developers Ltd.
  • HDFC Credila Financial Services Pvt Ltd.
  • HDFC Holdings Ltd.
  • HDFC Chubb General Insurance Co. Ltd.
  • MBS 2006 Series III Trust
  • MBS 2006 Series II Trust
  • MBS 2006 Series I Trust
  • HDFC India Real Estate Fund
  • HDFC Trustee Co. Ltd.
  • Home Loans Services India Pvt. Ltd.
  • Hometrust Housing Finance Co Ltd
  • HDFC Realty Ltd.
  • Zurich Asset Management Company India Pvt Ltd.
  • HDFC Investments Ltd.


    Last Updated on 30 Sep, 2020

    You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

    Stay ahead with our exclusives on Asia;
    the most dynamic market in the world.

    Stay ahead with our exclusives on Asia

    Get trusted insights from experts within Asia itself.

    Get trusted insights from experts
    within Asia itself.

    Try 1 month for $0.99

    You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

    This is your last free article this month

    Stay ahead with our exclusives on Asia; the most
    dynamic market in the world

    Get trusted insights from experts
    within Asia itself.

    Try 3 months for $9

    Offer ends October 31st

    Your trial period has expired

    You need a subscription to...

    • Read all stories with unlimited access
    • Use our mobile and tablet apps
    See all offers and subscribe

    Your full access to Nikkei Asia has expired

    You need a subscription to:

    • Read all stories with unlimited access
    • Use our mobile and tablet apps
    See all offers
    NAR on print phone, device, and tablet media

    Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

    Celebrate our next chapter
    Free access for everyone - Sep. 30

    Find out more