Housing Development Finance Corporation

Not to be confused with HDFC Bank.

Housing Development Finance Corporation
Company typePublic
BSE: 500010
NSE: HDFC
BSE SENSEX constituent
NSE NIFTY 50 constituent
ISININE001A01036
IndustryFinancial services
Founded1977; 47 years ago (1977)
Defunct1 July 2023; 16 months ago (1 July 2023)
FateMerged with HDFC Bank[1]
HeadquartersMumbai, Maharashtra, India
Area served
India
Key people
ProductsMortgage loans
RevenueIncrease ₹152,997 crore (US$18 billion)[3] (2023)
Increase ₹32,130 crore (US$3.8 billion)[3] (2023)
Increase ₹26,160 crore (US$3.1 billion)[3] (2023)
AUMIncrease ₹432,084 crore (US$52 billion)[4]
Total assetsIncrease ₹1,091,528 crore (US$130 billion)[5] (2023)
Total equityIncrease ₹201,474 crore (US$24 billion)[5] (2023)
Number of employees
3,226 (2021)[6]
SubsidiariesHDFC Bank
HDFC ERGO
HDFC Life
HDFC Mutual Fund[7]
HDFC Credila[8]
Websitewww.hdfc.com

Housing Development Finance Corporation was an Indian private sector mortgage lender based in Mumbai.[9][10] It was the biggest housing finance company in India.[11] It also had a presence in banking, life and general insurance, asset management, venture capital and deposits through its associate and subsidiary companies.[9]

In July 2023, the mortgage lender merged with HDFC Bank,[12] the country's largest private sector bank, in a bid to expand its portfolio and to gain access to a larger customer base.[13]

  1. ^ "HDFC-HDFC Bank Merger".
  2. ^ "Annual Report 2012-13" (PDF). HDFC. Retrieved 20 November 2013.
  3. ^ a b c "Housing Development Finance Corporation Consolidated Profit & Loss account, Housing Development Finance Corporation Financial Statement & Accounts" (PDF). www.bseindia.com.
  4. ^ "Housing Development Finance Corporation - Assets under management, May 31, 2022".
  5. ^ a b "Housing Development Finance Corporation Consolidated Balance Sheet, Housing Development Finance Corporation Financial Statement & Accounts" (PDF). www.bseindia.com.
  6. ^ Housing Development Finance Corporation Annual Report 2021
  7. ^ "About Us – HDFC Asset Management Company in India – HDFC Mutual Fund".
  8. ^ "About HDFC Credila, an HDFC Ltd | Credila". www.hdfccredila.com.
  9. ^ a b Cite error: The named reference AboutHDFC was invoked but never defined (see the help page).
  10. ^ "India's Best Boards 2013: HDFC distinguished by the fact that it has no promoter". Economic Times. 26 July 2013. Archived from the original on 27 November 2013. Retrieved 27 November 2013.
  11. ^ "HDFC finishes FY23 in style". Moneycontrol. 5 May 2023. Retrieved 27 June 2023.
  12. ^ "HDFC to merge into HDFC Bank effective July 1". Moneycontrol. 30 June 2023. Archived from the original on 16 October 2023. Retrieved 7 January 2024.
  13. ^ "Explained: The main reasons behind the merger of HDFC and HDFC Bank". Business Today. 4 April 2022. Archived from the original on 27 April 2022. Retrieved 7 January 2024.