HDFC, the country’s largest housing finance company, reported a net profit of Rs 534 crore for the quarter ended September 2008. This is
an increase of 32% over last year’s second quarter net profit of Rs 403 crore. If the exceptional items from the sale of BPO arm Intelenet in 2007-08 were included in last year’s profit, this year’s Q2 net profit would be down 17% over last year.
While the profit growth is healthy and in line with market expectations, the rate of disbursements has slowed down marginally. Disbursals grew 23% to Rs 10,584 crore in the second quarter, while approvals rose 26% to Rs 14,184 crore. The slower growth reflects reduced lending to corporates and builders. According to officials, the retail loans grew at a healthy 31%. Analysts fear a slowdown in retail loan growth if troubled builders stall projects. read more
Source:http://economictimes.indiatimes.com/News_by_Industry/HDFC_net_up_32_to_Rs_534_cr_in_Q2/articleshow/3610236.cms
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. A mortgage loan is a secured loan in which the collateral is property, such as a home.
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