A recent press report said that Housing Development Finance Corporation Ltd (HDFC) has reported a healthy growth in loans to individuals and corporates and has recorded 22 per cent increase in its net profit in the April-June 2011 quarter.
HDFC has posted a net profit of Rs 1,176 crore against Rs 967 crore in the corresponding period last year. Reports said that the loan book of the company had increased 22 per cent to Rs 124,168 crore as at June-end 2011 from Rs 101,625 crore as at June-end 2010.
Reports also said that the company’s loan book went up by 6 per cent to Rs 7,041 crore. Mr. Deepak Parekh, Chairman said that the company has not seen even a marginal slowdown in demand for home loans and that the company’s loan book has grown by 22 per cent.
The bank has recently launched a new credit card called “INFINIA” which would be initially issued only to 5,000 individuals. Reports also said that the ultra premium credit card comes with virtually “no limits” not just in terms of spend, but also the luxuries such customers are accustomed to.