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The Covid-19 induced lockdown might be bad for the rental market but many factors drove people to buy homes in the last one year. Both <keyword id="35507" type="PERSON" weightage="20" keywordseo="property-prices">property prices</keyword> and interest rates have become attractive. Added to that, in cities like Mumbai that had inventory, reduced stamp duty prices stirred the dormant property market. But it’s not just that. <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword>, which gives out a fifth of the country’s <keyword id="35519" type="PERSON" weightage="20" keywordseo="home-loans">home loans</keyword>, says that its average size of loan has gone up to ₹30 lakh from ₹28 lakh in the last one year. At a time when property prices are falling (or stable at best) on an average, this could only mean that Indians are going in for bigger homes. “Homes are a lot more affordable now as income levels have gone up but home loan prices have either remained stagnant or come down. Interest rates are at an all-time now,” <keyword id="6419588" type="UNKNOWN" weightage="20" keywordseo="Keki-Mistry">Keki Mistry</keyword>, CEO of HDFC told Business Insider India. Yet another study by Bankbazaar too said that in 2020, average home loan sizes in all went up to ₹26.4 lakhs from ₹23.8 lakhs the year before. The loans taken out by women was a tad higher at ₹31 lakhs. <div type="Video" msid="80726505" hostid="261" title="The CEO of India's largest home loan company is happy because people are back to buying homes⁠— and bigger ones" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=80726505"></div> ‘All of us are one-room short’ The reason could be the yearning of space as families stayed locked in with more than two people working from home, on an average. “Today stars are aligned for realistic activity in work from home. All of us here are one room short of our houses. I'm staying in a four bedroom house. I want a fifth bedroom so that I can do my work properly,” said Nilesh Shah, MD of Kotak Mahindra Asset Management Company. Shah too mirrored Mistry’s sentiment saying that real estate prices have either stagnated since 2016 or come down. “The affordability index has come down from 50 to now about 28,” said Shah. Lower prices and lower interest rates coupled with good inventory could mean property buyers are now choosing to go for larger properties which now fit into their budgets. The falling average age of home buyers might also have had an effect on the choice for bigger homes. Younger people tend to prefer larger homes while older buyers prefer compact houses, and the young population of India might also aspire for larger homes going ahead. “The average age of home buyers is now at around 37-38 years now. Considering that two-thirds of the population is under 40, younger people will buy homes in the next 5-10 years,” said Mistry. If the work from home trend is here to stay, it might also be possible that the demand for spacious homes is here to stay. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/why-grofers-may-allow-an-american-blank-cheque-firm-to-buy-it-out-instead-of-fighting-ambani-and-bigbasket-for-ipo/articleshow/80874979.cms">Here’s why Grofers may allow an American “blank cheque” firm to buy it out instead of fighting Ambani and BigBasket for IPO</a> <a href="https://www.businessinsider.in/india/news/spicejet-and-indigo-stocks-take-off-as-a-2-hour-flight-could-now-cost-up-to-13000/articleshow/80873865.cms">SpiceJet and IndiGo stocks take off as a 2-hour flight could now cost up to ₹13,000</a> <a href="https://www.businessinsider.in/business/auto/news/centre-earned-100-crores-by-sharing-vehicle-registration-data-with-companies-such-as-bmw-axis-bank-bajaj-allianz-lt-and-others/articleshow/80879638.cms">Centre earned ₹100 crores by sharing vehicle registration data with companies such as BMW, Axis Bank, Bajaj Allianz, L&amp;T and others</a>

WATCH: The CEO of India’s largest home loan company says people are going for bigger homes, thanks to the lockdown

The CEO of India's largest home loan company is happy because people are back to buying homes⁠— and bigger ones

Mumbai, Feb 14 () Whistleblower policy is a critical element of internal control in companies, and there is a need to place a mechanism to penalise dishonest complainants, HDFC vice-chairman and CEO Keki Mistry said on Friday.Malicious accusation lead to unnecessary time wastage in investigating the claims, affects shareholder perception and tarnish the image of organisations, he added."I do think that genuine whistleblowers need to be encouraged by the regulators. However, there needs to be a mechanism put in place that penalises complaints by dishonest people," Mistry said in his address at a corporate governance summit organised by CII.While there are individuals who are motivated by a sense of moral conscience and act for the organisation, there are those who act of greed and to take revenge, he said.Mistry said certain instances in the past have shown that whistleblowers are either seeking ill of a company or looking for media attention."It is equally important to ensure that there are sufficient checks and balances in the system so that malafide intentions are discouraged," he noted.Shareholder activism in the country is bound to become more pronounced as investors are exerting influence in governance both directly and through their proxy advisors, he said.As India becomes more developed economy, there is a need to ensure that the corporate governance norms do not become so stringent and restricted that they inhibit a company's ability to take risks and contribute to economic growth, Mistry added."The safeguards and control structures should be done in a manner that allows organisations to flourish and focus on business," the banker said.He said the corporate governance practices in the country will keep improving which will enable easier access to capital from global markets, increase transparency and enhanced investor confidence. HV BAL

Whistleblower policy critical for internal control in firms: Keki Mistry

Company boards are operating under increased "political and regulatory" pressure to improve their governance standards, and the resultant risk averseness is a prime reason for the growth <keyword id="29405" type="COMPANY" weightage="20" keywordseo="slowdown">slowdown</keyword>, <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword>'s Chief Executive <keyword id="6419588" type="UNKNOWN" weightage="20" keywordseo="Keki-Mistry">Keki Mistry</keyword> said on Wednesday. The mortgage lender's executive said bankers are not taking lending decisions because of this risk averseness syndrome, and warned it will hamper <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s animal spirit unless there is a change. The comments come at a time when official estimates for FY20 project GDP growth hurtling to an 11-year low of 5 per cent. The government is also allaying fears in the face of greater actions by agencies like CBI, ED and SFIO.
 "Boards are currently operating under far greater scrutiny than ever before, with greater political and regulatory pressure on companies to improve their governance standards," Mistry said at an event organised by industry lobby CII here.
 Citing a few instances, he warned this extreme risk averseness will "hamper India's animal spirit and could lead to a slowdown in economic growth in the country", adding that a few calculated risks ought to be taken.
 Without taking names, the long-standing key executive of the largest pure play home financier, who sits on many boards himself, said there have been instances of independent directors refusing to approve strategic investments fearing that they were "risky".
 The wariness can result in more independent directors of good caliber staying away from joining company boards where they might be needed the most, Mistry said, hinting that the "overarching compliance pressures" need to be softened.
 He said the CII will be leading a delegation to the government to impress its concerns on the pressures faced by independent directors.
 On bankers' conduct amid this period of heightened risk averseness, Mistry said that there have been instances wherein lenders have not renewed their loan pacts even with the good customers, which is hurting economic growth.
 "One of the reasons why we are seeing a slowdown in the economy in the last couple of years has been the fact that risk taking has become a huge issue of banks. Banks have become extremely reluctant..there is plenty of liquidity in the system, there is no shortage," he said.
 "Risk averseness is something that is hurting the economy in a big way and will continue to hurt the economy till we become more willing to take on risks," Mistry added.
 Regulations should not become such that because of them people start becoming so fearful that they do not take decisions, he told reporters later.
 He also added that we are at present going through a period of transition on the same and also welcomed government steps on this front.
 On the high quantum of non-performing loans, Mistry said there is a need to look at such instances as a regular business occurrence.
 He also sought for a nuanced view on whistleblowers, stating that mala fide intentions need to be curbed as many a times accusations get made out of personal factors like greed and animosity, and also termed some individuals as "opportunists". AA ABM
ABM

HDFC CEO Keki Mistry says political and regulatory pressures leading to slowdown

Even though India’s <keyword id="6354553" type="COMPANY" weightage="100" keywordseo="real-estate">real estate</keyword> industry went through a deep slump post <a href="http://www.businessinsider.in/topic/demonetisation">demonetisation</a>, looks like the effects have started to wear off, at least in the top eight cities of the country. As per data from Liases Foras Real Estate Rating &amp; Research, a well-known housing and real estate data agency, primary residential sales across these cities rose 21% in the first quarter of 2017, selling about 61,214 units, up from 50,788 units in the previous quarter. Also read: <a href="http://www.businessinsider.in/India-is-set-to-witness-a-housing-boom-worth-1-3-trillion-and-it-would-CHANGE-the-economy-like-never-before/articleshow/58590215.cms">India is set to witness a housing boom worth $1.3 trillion, and it would CHANGE the economy like never before</a> The leading cities in this road to recovery were <keyword id="6354925" type="COMPANY" weightage="100" keywordseo="Kolkata">Kolkata</keyword>, Hyderabad and Ahmedabad, with respective growth rates of 47%, 43%, and 30%. However, the year-on-year growth was still 5% lower, primarily because of weak market in Chennai and <keyword id="6354321" type="CITY" weightage="100" keywordseo="Bengaluru">Bengaluru</keyword>, with sales falling 44% and 35%, respectively. Also read: <a href="http://www.businessinsider.in/RERA-is-a-game-changer-for-real-estate/articleshow/58629172.cms">RERA is a game changer for real estate</a> Talking of <a href="http://www.businessinsider.in/You-can-buy-a-home-in-Delhi-NCR-withinyour-budget-Heres-how/articleshow/57704483.cms">Delhi NCR</a>, the region contributed the most with sales of 14,983 units, after which <keyword id="6361772" type="ORGANIZATION" weightage="100" keywordseo="Mumbai-Metropolitan-Region">Mumbai Metropolitan Region</keyword> ranked second with 14,505 units, registering respective growth rates of 24.5% and 23.6%. "The impact of <keyword id="3315394" type="UNKNOWN" weightage="100" keywordseo="demonetisation">demonetisation</keyword> was transitory as it did result in subdued disbursement growth, particularly in the third quarter and part of the fourth quarter of the financial year under review. But by the end of the financial year, the individual disbursement growth trajectory began normalising," said <keyword id="6419588" type="PERSON" weightage="100" keywordseo="Keki-Mistry">Keki Mistry</keyword>, CEO of HDFC. Also read: <a href="http://www.businessinsider.in/Remonetisation-substantially-completed-will-expand-tax-base-Jaitley/articleshow/58576226.cms">Remonetisation substantially completed, will expand tax base: Jaitley</a> He added that even though the market has just bounced back to normal, this is be the best time to buy residential properties because of lower interest rates, declining property prices in some cities and government incentives.

India's top eight cities saw 21% surge in home sales in last quarter

<keyword id="136927" type="ORGANIZATION" weightage="20" keywordseo="affordable-housing">Affordable housing</keyword> and speedy completion of projects have become the talk of the town. As per Keki Mistry, vice-chairman of Housing Development Finance Corp (HDFC), there is a lot of scope in affordable housing, provided <keyword id="90048" type="UNKNOWN" weightage="20" keywordseo="Land-prices">land prices</keyword> are reduced. 
 
In an interview with Economic Times, Mistry said that land prices must fall to make homes affordable. 
 
“The opportunity is huge, but if you have to make housing affordable, you will have to get land prices down. Second is funding of land. Today, largely private equity investors fund it and the interest rate they charge is huge. Third, expediting the process of project clearance. There should be a single-window clearance for approval of projects,” Mistry told ET. 
 Talking about the crisis in the <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> market, Mistry said that in this segment, any market would see some people under stress. 
 
“We have not seen any undue distress for majority of them. We have not seen any pickup in developer lending, our growth in developer lending has remained in tune with the market. Our individual book is 73% and non-individual is 27%. Our non-individual includes lending to corporates for their office premises, developers, lease rental discounting. Developer lending in construction financing is 12-13%,” said Mistry. 
 
At a time when India is looking to boost infrastructure, experts say the government should look at easing norms for stuck projects. 
 
“When people talk about inventory, what they look at is under-construction properties. In reality, people buy only when the building is ready, which is very different from what it used to be in 2006-07. One should look at completed projects,” Mistry told ET. 
 Talking about <keyword id="2365245" type="UNKNOWN" weightage="20" keywordseo="FDI-in-real-estate">FDI in real estate</keyword>, Mistry said, “There is tremendous amount of interest in foreign money coming to India. Most of the money has come into various private equity funds, funds that cater to the affordable housing segment and funds that cater to larger developers. It is the middle and larger developers who have access to these funds.”

Keki Mistry: For affordable houses to take off, the land prices must come down

Mumbai, Jan 8 () The country's largest pure-play mortgage financier HDFC has made a commitment to invest Rs 250 crore in the government-led special fund to revive stalled real estate projects, a top company official said on Wednesday.
 HDFC Chief Executive Keki Mistry, however, added that the realty sector's revival hinges a lot on banks, which are reluctant to lend to stalled projects due to regulatory issues.
 As part of its measures to boost growth, the government had in November last year announced a Rs 25,000 crore package for the real estate sector, including a corpus to help stalled projects.
 SBI Caps, which is managing the fund, had last month announced the first close of the fund with Rs 10,530 crore commitments from investors, including HDFC.
 "We are participating in the fund (with a contribution of) Rs 250 crore," Mistry told reporters on the sidelines of an event by industry lobby CII here.
 Mistry said apart from the fund, support in the form of bank lending is essential for reviving the sector's prospects and flagged his concerns on reluctance among bankers to lend.
 "The problem is that no one wants to do it because when you lend to a project which is NPA in someone's books, you have to straight away classify (it) as NPA from day one, in which case there is a lot of reluctance on the part of banks to participate," he explained.
 Mistry said HDFC has been going slow on project loans for the last four to five quarters because of the overall conditions, but it is focusing on the individual loans segment with the same vigour as before.
 He said the real estate sector is very important for the economy because it helps creates jobs both directly and indirectly.
 Welcoming the Centre's package for the realty sector, he said the government will have to focus on job creation to spur growth momentum. AA ABM
ABM

HDFC to invest Rs 250 cr in stressed assets fund for realty sector: Mistry

New Delhi, May 26 () Shares of housing finance firm HDFC Ltd on Tuesday fell by nearly 2 per cent after the company reported a 10 per cent decline in consolidated net profit for the fourth quarter ended March 31. On BSE, the stocks declined 1.55 per cent to Rs 1,493. They fell 1.55 per cent to Rs 1,492.60 on NSE. The housing finance firm on Monday reported a 10 per cent decline in consolidated net profit to Rs 4,341.58 crore for the fourth quarter ended March 31. The company's net profit (before adjustment of minority interest) was Rs 4,811.26 crore in January-March quarter of 2018-19. On standalone basis, the profit of HDFC during the quarter slipped by 22 per cent at Rs 2,232.55 crore as against Rs 2,861.58 crore in the same quarter previous fiscal. "In the fourth quarter, the factors that impacted the result include - extra provisioning due to COVID-19 requirement, dividend income was Rs 2 crore compared to Rs 537 crore last year and profit on sale of investments was Rs 2 crore as against Rs 321 crore," HDFC Ltd vice chairman and CEO Keki Mistry said. Market was closed on Monday for 'Id-Ul-Fitr'. SUM ANS ANS

HDFC shares fall around 2 pc after Q4 earnings

New Delhi, May 26 () Shares of housing finance firm HDFC Ltd on Tuesday fell by nearly 1 per cent after the company reported a 10 per cent decline in consolidated net profit for the fourth quarter ended March 31. On the BSE, the stock declined 0.95 per cent to close at Rs 1,502.15. During the day, it dipped 1.98 per cent to Rs 1,486.45. The stock fell 0.64 per cent to close at Rs 1,506.40 on the NSE. On traded volume terms, 3.57 lakh shares of the firm were traded on the BSE and 1.27 crore units on the NSE during the day. The housing finance firm on Monday reported a 10 per cent decline in consolidated net profit to Rs 4,341.58 crore for the fourth quarter ended March 31. The company's net profit (before adjustment of minority interest) was Rs 4,811.26 crore in January-March quarter of 2018-19. On standalone basis, the profit of HDFC during the quarter slipped by 22 per cent at Rs 2,232.55 crore as against Rs 2,861.58 crore in the same quarter previous fiscal. "In the fourth quarter, the factors that impacted the result include - extra provisioning due to COVID-19 requirement, dividend income was Rs 2 crore compared to Rs 537 crore last year and profit on sale of investments was Rs 2 crore as against Rs 321 crore," HDFC Ltd Vice Chairman and CEO Keki Mistry said. Market was closed on Monday for 'Id-Ul-Fitr'. SUM SHW SHW

HDFC shares fall 1 pc after Q4 earnings

<ul><li>Housing Development Finance Corporation’s individual loan disbursements rose rapidly by 181% on year in June quarter.</li><li>The leading housing finance company sees strong demand for home loans since many locations have unlocked post covid.</li><li>Real estate company stocks have been gaining since the last 30 days hoping for a recovery.</li></ul>The largest private housing finance company in India said that demand had improved in both the affordable segment as well as in high-end properties. While the company’s net profit declined marginally to ₹ 5,310 crore from ₹5,669 crore same time last year, Housing Development Finance Corporation (HDFC) saw a 181% growth in individual loan disbursement in June quarter 2021. "HDFC surprised the street with almost steady asset quality performance during a quarter when most peers in housing as well as other asset finance sectors have reported a significant rise in stressed loans," said Kotak Institutional Equities in its report dated August 3. <div type="image" title="HDFC net profit revenue" height="900" width="1200" msid="84972826" hostid="261"></div> Home loan disbursement refers to the release of the credit amount by the bank or financial institution to the borrower. “While disbursements during April and May of the current financial year were somewhat impacted, business has reverted to normalised trends in the months of June and July,” said the company while announcing its June quarter results. This is a trend that has continued for the last few quarters with exceptions in the month of April and May 2021 when the second wave of the pandemic struck. Watch the company’s Chief Executive Officer Keki Mistry expressing similar optimism in a conversation with <a href="https://www.businessinsider.in/business/news/watch-the-ceo-of-indias-largest-home-loan-company-says-people-are-going-for-bigger-homes-thanks-to-the-lockdown/articleshow/80894790.cms">Business Insider in </a>February this year. This has helped real estate stocks sustain the rally seen over the last one month. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top five realty stocks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gains on Aug 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 30 days </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DLF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oberoi Realty </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Godrej Properties </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indiabulls Real Estate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prestige Estates Projects </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">26% </td></tr></tbody></table> India’s real estate sector has been in a limbo for a few years now. The pandemic made it worse and, despite steady cuts in benchmark interest rates by the Reserve Bank of India (RBI), the recovery has been slow, to put it mildly. According to latest data from property consultants at Anarock, over 1.74 lakh under-construction homes ⁠— estimated to be worth over ₹1.4 lakh crore (about $20 billion) are stuck across the top seven cities in India. These projects were launched before 2014 but have not been completed since. The total number of properties under construction in India exceeds 626,000. Even HDFC’s earnings statement noted that people preferred ready-to-move properties compared to those under construction. Many of those who have taken home loans are also struggling to repay. Individual non performing assets (NPAs) increased due to slippages after the impact of the second wave of the pandemic. <div type="image" title="HDFC chart 2" height="900" width="1200" msid="84971003" hostid="261"></div> However, the outlook for real estate stocks has been so bad that investors are craving for any amount of optimism. And, some of it has been available for those seeking it. Macrotech Developers, the owner of the Lodha brand of properties ⁠— one of the biggest developers in India ⁠— clocked a total sales booking of ₹957 crore in June quarter, of which ₹654 crore came in June. <div type="image" title="Macrotech developers chart" height="900" width="1200" msid="84971027" hostid="261"></div> "We expect the sector to outperform in coming years wherein companies like DLF, Oberoi Realty, Godrej Properties, Phoenix Mills, Brigade enterprises, Indiabulls Real Estate and Sobha, which collectively contribute 87% of Nifty Realty Index, are poised to generate above-average returns in years to come and should be considered as long-term investment bets in portfolios," broking firm <a href="https://www.business-standard.com/article/markets/realty-shares-in-demand-oberoi-prestige-estates-indiabulls-sobha-up-5-121080200316_1.html">ICICIdirect</a> recently said. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-news-birla-offers-to-give-up-his-27-stake-in-vodafone-idea/articleshow/84969189.cms">Birla offers to give up his 27% stake in Vodafone Idea to keep phones of 27 crore Indians ringing </a> <a href="https://www.businessinsider.in/stock-market/news/zomato-indigo-paints-bectors-food-ujjivan-small-finance-bank-and-other-hot-stocks-that-have-lost-steam-since-listing/articleshow/84964352.cms">Zomato, Indigo paints, bectors food, Ujjivan small finance bank and another hot stocks that have lost steam since listing </a>

India’s largest home loan provider HDFC has given real estate stocks another reason to rally

New Delhi, Jan 28 () Shares of HDFC on Tuesday jumped over 3 per cent after the company reported a near four-fold growth in net profit for the three months to December 2019.
 The company's scrip gained 3.13 per cent to Rs 2,470.85 on the BSE.
 On the NSE, it climbed 3.16 per cent to Rs 2,471.70.
 The mortgage lender on Monday reported a near four-fold growth in net profit at Rs 8,372.5 crore for the three months to December as against Rs 2,113.8 crore in the same period last fiscal year.
 The company said the massive gain in bottomline is notional but mandatory from an accounting perspective, as it is based on the valuation gain on its 9.9 per cent stake in Bandhan Bank following the merger of subsidiary Gruh Finance with the Kolkata-based lender effective last October.
 For the first time, the loan book crossed Rs 5 lakh crore during the quarter, vice chairman and chief executive Keki Mistry said.
 The company booked a 24 per cent growth in individual loans, after adding back loans sold in the preceding 12 months, while excluding that the same clipped at 16 per cent. SUM ANS
ANS

HDFC shares rise over 3 pc as December quarter profit soars

New Delhi, Jan 28 () Shares of HDFC on Tuesday closed nearly 2 per cent higher after the company reported a near four-fold growth in net profit for the December 2019 quarter.
The company's scrip rose 1.53 per cent to close at Rs 2,432.40 on the BSE. During the day, it jumped 3.13 per cent to Rs 2,470.85.
On the NSE, it rose by 1.56 per cent to close at Rs 2,433.40.
About 1.85 lakh shares of the company were traded on the BSE and 66 lakh shares on the NSE during the day. 
The mortgage lender on Monday reported a near four-fold growth in net profit at Rs 8,372.5 crore for the three months to December as against Rs 2,113.8 crore in the same period last fiscal year.
 The company said the massive gain in bottomline is notional but mandatory from an accounting perspective, as it is based on the valuation gain on its 9.9 per cent stake in Bandhan Bank following the merger of subsidiary Gruh Finance with the Kolkata-based lender effective last October.
 For the first time, the loan book crossed Rs 5 lakh crore during the quarter, vice chairman and chief executive Keki Mistry said.
 The company booked a 24 per cent growth in individual loans, after adding back loans sold in the preceding 12 months, while excluding that the same clipped at 16 per cent. 

 
 SUM ANS
ANS

You Searched For "Keki Mistry" and got 12 results

WATCH: The CEO of India’s largest home loan company says people are going for bigger homes, thanks to the lockdown

Katya Naidu

The CEO of India's largest home loan company is happy because people are back to buying homes⁠— and bigger ones

Business Insider India

Whistleblower policy critical for internal control in firms: Keki Mistry

PTI

HDFC CEO Keki Mistry says political and regulatory pressures leading to slowdown

PTI

India's top eight cities saw 21% surge in home sales in last quarter

BI India Bureau

Keki Mistry: For affordable houses to take off, the land prices must come down

BI India Bureau

HDFC to invest Rs 250 cr in stressed assets fund for realty sector: Mistry

PTI

HDFC shares fall around 2 pc after Q4 earnings

PTI

HDFC shares fall 1 pc after Q4 earnings

PTI

India’s largest home loan provider HDFC has given real estate stocks another reason to rally

Bhakti Makwana

HDFC shares rise over 3 pc as December quarter profit soars

PTI

HDFC shares end nearly 2 pc higher post December quarter earnings

PTI

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