/HDFC’s individual loan disbursements rise 26 pc in December quarter

HDFC’s individual loan disbursements rise 26 pc in December quarter

New Delhi: Mortgage firm HDFC Ltd on Monday said its disbursements in the individual loan category have grown by 26 per cent during the third quarter ended December 2020. The individual loan business continued to see improvements during the December quarter, HDFC Ltd said in a regulatory filing.

“Disbursement growth over the corresponding quarter of the previous year was 26 per cent. For the nine months ended December 31, 2020, individual loan disbursements stood at 86 per cent of the levels in the corresponding period of the previous year,” it said.

During the quarter ended December 31, 2020, the profit on sale of investments was Rs 157 crore, it said, adding this was on account of the sale of 25,48,750 equity shares of HDFC Life Insurance Company Limited (HDFC Life).

HDFC’s shareholding in HDFC Life now stands at 49.99 per cent. This has met the RBI’s mandate of reducing its shareholding in HDFC Life to 50 per cent or below by December 16, 2020, it added.

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