Net profit of the Housing Development Finance Corporation (HDFC) rose 17.27 per cent to Rs 1,555 crore during Jan-Mar 2013 quarter on a standalone basis. The financial institution attributes the growth in profit to rising loan book and maintaining of margins. Net interest margin of the company was 4.2 per cent while the spread was 2.3 per
Tag: Real estate
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Gujarat govt finalising slum rehab policy
Gujarat government is finalising the proposed Slum Development Policy 2013, which aims to promote development of organized housing for urban slum dwellers by both private sector and state agencies. The government is working on the incentives to be provided for private developers, along with subsidy for carrying out slum rehabilitation projects. Private developers will be offered greater FSI (floor space index) as a
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Railway freight to impact cement industry
The proposed 5.79 per cent increase in rail freight as per the recent Railway Budget may impact the margins of the cement industry. Around 50 to 60 per cent of the freight expense of a typical cement company is related to rail freight,
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Cement industry poised for better growth
Growth in cement demand in 2013-14 may improve as the economy is expected to grow faster during the year and also because the governmentÂ’s policy initiatives may promote infrastructure sector,
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Govt plans to pass Finance Bill by end of budget session
The government plans to pass the Finance Bill 2013 by the end of the second half of the budget session, which starts on April 22 and ends on May 10. The parliamentary affairs ministry, headed by Kamal Nath proposed the window of May 6 and 7 for discussion and passage of the finance
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Govt plans to pass Finance Bill by end of budget session
The government plans to pass the Finance Bill 2013 by the end of the second half of the budget session, which starts on April 22 and ends on May 10. The parliamentary affairs ministry, headed by Kamal Nath proposed the window of May 6 and 7 for discussion and passage of the finance
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Experts suggest policy steps to boost affordable housing in urban areas
Experts suggest the government to liberalise obsolete development norms, rationalise floor area ratio and density in order to address shortage of housing in urban areas. According to experts, the process of urbanisation may grow at a compounded annual growth rate of more than two per cent over the next two decades and this c
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NHB to raise funds through ECB
In order to lend to low-cost housing projects, National Housing Bank (NHB) plans to raise $200 million through external commercial borrowing (ECB) in 2013-14. The NHB plans to seek approval from the Reserve Bank of India (RBI) for raising the amount through ECB. In 2012-13, the housing finance regulator could raise funds under ECB as the approval from RBI came in the latter
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Axis Bank expects 30% growth in housing credit
Axis Bank has a total home loan portfolio of Rs 30,000 crore and the bank plans to increase this at the rate of 30 per cent every year over the next two years. Thus, the bank aims to have a total home loan portfolio of Rs 50,000 crore by the end of 2014-15. The bank's home loan portfolio occupies a major part of its retail lending assets, which stood at Rs
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NHB issues Rs 6.4 bn worth tax-free bonds
RV Verma, Chairman and Managing Director of National Housing Bank (NHB) issued tax-free bonds worth Rs 644 crore NHB was authorized to raise Rs 5,000 crore through tax free bonds during 2012-13. It had room to mobilise upto Rs 3,750 crore through the recently concluded public issue. Verma informed that the company could have mopped up more funds through this route had it not been