Home Loans Are reverting to pre-covid Level : HDFC Says

Home Loans

Today HDFC Says that Home Loans Business is  now returning to pre-covid levels . Today HDFC Bank releases it’s Loan Disbursement Data of Second Quarter . This Data Shows that Home Loans business is reverting to pre-covid level .

Today in Stock Exchange , HDFC told that in Second Quarter of FY2020-21 i.e. September Quarter Loan Disbursement is Approximately 95% of Second Quarter of FY2019-20 . Also Loan Application saw a jump of 12% and Loan Approvals saw a Jump of 9% on YoY  (Year on Year) .

In June Quarter , Standalone  Profit Fell by 4.71% on YoY Basis to 3,052  Crore Rupees .

In Unlock i.e in September Quarter Housing Business  saw a great Recovery said by HDFC .

Retail Business of HDFC was impacted During June 2020  Because of Corona Pandemic  . But Still Company Disbursed 68% Loan when compared with June Month of Previous Year .

Loan Moratorium

22.4% of Total Loan Amount was under Moratorium in Moratorium 2  while Individual Loan Moratorium was stood at 16.6% in Moratorium 2 .

In Moratorium 1 ,  27% of Total AUM was under Moratorium . While 22.6% of Individual loans have opted for Loan Moratorium .

Previous Week , Company Started a one- month property show named “India Home Fair”  . This fair features more than 175 Developers featuring more than 350 Projects in 50 cities of India .

This Fair is basically for NRI’s (Non-Resident Indians) , and PIO (Person of Indian Origin) which are based in London , Singapore , Middle East and wants to own there dream home in India .

Renu Sud Karnad . MD HDFC Bank said that – “We at HDFC have seen demand coming back . In July 2020 , HDFC achieved 81% of July 2019 disbursements , better than what we had expected given the lockdown and other restrictions and the subsequent months have been even better”

 

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