A recent press report said that the net profit of Housing Development Financing Corporation (HDFC) bank has increased to 20 per cent to Rs. 971 crore for the second quarter ended September 30 of this fiscal year compared to the corresponding period of last year.
Last year HDFC bank posted a net profit of Rs. 807.54 crore during the quarter July to September, 2010 – 2011. The bank’s net income which was Rs. 2, 970.22 crore during the second quarter of last year has increased to Rs.4, 169.14 crore for the corresponding period of this fiscal year.
Housing mortgage lender HDFC’s loan book reported a worth of Rs. 1,26,992 crore for the quarter ended September 30, 2011. With this report, the shares of HDFC rose up by 0.64 per cent to Rs. 670.60 compared to the previous price.
HDFC is a pioneer and leader in housing finance in India, since origin. It has supported more than 38 Lakhs customers to own a home of their own, through cumulative housing loan approvals. HDFC offers the widest range of home loan products and services to suit the unique requirements of its customers including Home Loans for properties anywhere across India, Home Improvement Loans, Home Extension Loans and Land Purchase Loans for Housing.