Housing Development Finance Corporation Ltd (HDFC) Share Price

Housing Development Finance Corporation or HDFC is among India’s leading financial services companies. The company is headquartered in Mumbai, Maharashtra. HDFC is primarily known for its housing finance business. HDFC was established in 1977 as a specialised housing finance company. The chief objective of setting up HDFC was to provide financing to clients for either the purchase or construction of residential properties across India. 1980 was a significant year for HDFC when it received a nod from the Reserve Bank of India (RBI) to accept deposits from Non-Resident Indians (NRIs) as well as permission to grant home loans to the NRIs without obtaining prior approvals. The following year, HDFC would promote a wholly-owned subsidiary, HDFC Developers Limited. The subsidiary undertook specific housing projects from time to time. In the same year, HDFC also launched its first retail deposit product. HDFC launched the 'Home Savings Plan' in 1985. This plan was based on West Germany’s 'Bausparkasse' model. Four years later, the NBFC would launch two new products in the Indian market. These were House Renovation Loans and Home Extension Loans. In the same year, HDFC computerised its Loan Processing System (LPS). HDFC Bank began operations in August 1994 after Housing Development Finance Corporation (HDFC) received approval from the Reserve Bank of India (RBI) to set up a private sector bank. HDFC was among the first NBFCs who got permission to set up private sector bank from RBI. 1998 was the year when HDFC introduced two new products. These were Home Equity Loan and Corporate Employees Group Finance Arrangement. HDFC signed an agreement with HDFC Bank in order to source home loans in 2003. Two years later, HDFC incorporated HDFC Property Fund. 2007 was the year when HDFC changed the name of its general insurance subsidiary to 'HDFC ERGO General Insurance Company Limited’ after it formed a Joint Venture with German firm ERGO International AG. HDFC launched a new loan product 'HDFC Reach' in 2014. HDFC Reach caters to the unorganised customer segment across 9 cities. In 2022, HDFC and HDFC Bank announced a transformational merger.

Products and services 

HDFC offers a variety of products and services in the housing finance sector. The company is primarily known for offering housing loans to its customers. These include home loans, plot loans and rural housing loans. It also provides loans for house renovations and home extensions. HDFC also offers top-up loans to customers. Meanwhile, HDFC Reach is a specialised offering for home purchase by micro-entrepreneurs and salaried individuals who don’t possess sufficient income proofs. The company also offers some non-housing loan options, including loans against property, commercial property loans and commercial plot loans. 

Listing

HDFC was first listed in 1978. HDFC is listed in a number of stock exchanges like BSE, NSE, Calcutta Stock Exchange, Delhi Stock Exchange, Madras Stock Exchange etc. HDFC is a part of multiple indices like Nifty 50, Nifty 500, S&P BSE Sensex etc.