ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintSite TitleTitle 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 2019 INRUSD
Gross Profit391,260.50M5,594.01M
Operating income151,767.20M2,169.87M
Income before tax147,091.40M2,103.02M
Net income162,317.60M2,320.72M
Diluted EPS94.651.35
Dividends Per Share210.30
Total Assets6,608.75B95,398.78M
Total liabilities5,428.96B78,368.32M
Total equity1,117.33B16,128.92M
Operating cash flow-443,014.20M-6,333.95M
Currency in INRCurrency in USD

Historical Data

 Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 483,900.30M 537,148.50M 613,955.30M 757,840.70M 920,644.90M
Gross Profit -- 341,126.70M 368,761.10M 316,382.20M 391,260.50M
Operating income 101,898.80M 116,656.70M 126,803.10M 103,072.90M 151,767.20M
Income before tax 101,166.20M 116,129.70M 126,495.50M 162,072.50M 147,091.40M
Net income 87,517.90M 101,049.50M 109,048.50M 119,799M 162,317.60M
EBITDA 103,206.10M 321,402.90M 348,205.10M 298,306.20M 374,909.50M
Diluted EPS 55.30 63.59 68.30 73.85 94.65
Dividends Per Share 15 17 18 20 21
Total Assets 3,495.25B 3,978.04B 4,741.37B 5,666.09B 6,608.75B
Total liabilities 3,026.33B 3,445.77B 4,106.05B 4,697.41B 5,428.96B
Total equity 450,716.30M 509,006.80M 600,593.10M 918,732.60M 1,117.33B
Operating cash flow -91,181.90M -197,104.10M -141,730.90M -579,280.10M -443,014.20M
 Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 7,914.17M 8,204.39M 9,155.71M 11,755.65M 13,162.84M
Gross Profit -- 5,210.36M 5,499.21M 4,907.73M 5,594.01M
Operating income 1,666.55M 1,781.81M 1,890.97M 1,598.87M 2,169.87M
Income before tax 1,654.57M 1,773.76M 1,886.38M 2,514.07M 2,103.02M
Net income 1,431.35M 1,543.42M 1,626.20M 1,858.32M 2,320.72M
EBITDA 1,687.93M 4,909.10M 5,192.66M 4,627.33M 5,360.23M
Diluted EPS 0.90 0.97 1.01 1.14 1.35
Dividends Per Share 0.24 0.25 0.26 0.31 0.30
Total Assets 55,851.42M 60,070.86M 73,017.22M 86,874.34M 95,398.78M
Total liabilities 48,358.48M 52,033.31M 63,233.30M 72,022.30M 78,368.32M
Total equity 7,202.09M 7,686.31M 9,249.14M 14,086.30M 16,128.92M
Operating cash flow -1,491.27M -3,010.56M -2,113.58M -8,985.81M -6,333.95M

Valuation Measures

Mar 2019
Operating margin16.48%
Profit margin17.63%

Key executives

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


  • Life Insurance Corp of India (4.2%)
  • Invesco Advisers, Inc. (3.6%)
  • The Vanguard Group, Inc. (3.5%)
  • GIC Pte Ltd. (Investment Management) (3.3%)
  • BlackRock Fund Advisors (2.5%)
  • SBI Funds Management Pvt Ltd. (2.4%)
  • Baillie Gifford & Co. (2.1%)
  • JPMorgan Asset Management (UK) Ltd. (1.8%)
  • Fidelity Management & Research Co. LLC (1.7%)
  • 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 Credila Financial Service Pvt Ltd.
  • HDFC Asset Management Co. Ltd.
  • HDFC Capital Advisors Ltd.
  • HDFC Credila Financial Services Pvt Ltd.
  • HDFC Life Insurance Co. Ltd.
  • HDFC Education & Development Services Pvt Ltd.
  • HDFC Ventures Trustee Co. Ltd.
  • HDFC Property Ventures Ltd.
  • HDFC Sales Pvt Ltd.
  • HDFC Developers Ltd.
  • HDFC ERGO General Insurance Co. 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.


  • Piramal Enterprises Ltd.
Last Updated on 27 Mar, 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.

Get Unlimited access

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 April 30th

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 the Nikkei Asian Review 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