Individual loan business continued to exhibit improvement in the January-March quarter 2021, Mortgage lender HDFC Ltd said on Saturday. It further said that its banking subsidiary assigned loans amounting to Rs 7,503 crore during the same period.
In a regulatory filing, the company said, “the individual loan business continued to see strong improvements during the quarter ended Match 31, 2021.”
“During the quarter, pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank, the Corporation assigned loans to the bank amounting to Rs 7,503 crore, compared to 5,479 crore in the corresponding quarter ofthe previous year,” HDFC added.
The individual loans sold in the preceding 12 months (April-March) amounted to Rs 18,980 crore (previous year Rs 24,127 crore), it said.
Besides, the Corporation’s gross income from dividend for the March quarter was Rs 110 crore as against Rs 2 crore in the year-ago quarter. There was no sale of investments in subsidiary/associate companies during January-March, as also in the year ago period, it added.