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 .
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”