HDFC Synopsis

HDFC
(Housing Development Finance Corporation)
Index
S.No Particular
1 Company Profile
2 Company History
3 Status under Employee Provident Fund Portal
4 Board of Director
5 Financial Status of the company
6 Shareholding of the company
7 Major Subsidiaries of HDFC
8 Former Subsidiaries of HDFC
Company Profile:
HDFC was an Indian private sector mortgage lender based in Mumbai. Apart from being the
biggest housing finance company in India, it also had a presence in banking, life and general
insurance, asset management, venture capital and deposits through its associate and subsidiary
companies. HDFC was incorporated in 1977 with the support from India's business community
as the first specialized mortgage company in India and main company among HDFC group of
companies. HDFC was promoted by the Industrial Credit and Investment Corporation of India
(ICICI).
Company History:
It was founded in 1977 with the support from India's business community as the first specialised
mortgage company in India and main company among HDFC group of companies. HDFC was
promoted by the Industrial Credit and Investment Corporation of India (ICICI).Hasmukhbhai
Parekh played a key role in the foundation of this company which started with the main aim of
solving the housing shortage in India and started rising steadily thereafter.
In 2000, HDFC Asset Management Company launched its mutual fund schemes. In the same
year, IRDA granted registration to HDFC Standard Life Insurance, as the first private sector life
insurance company in India. Currently it operates in India, Kuwait, Oman, Qatar, Saudi Arabia,
Singapore, United Arab Emirates and United Kingdom.
As per condition number 29 “In case of any change of legal status of the establishment, which
has been granted exemption, as a result of merger, demerger, acquisition, sale amalgamation,
formation of a subsidiary, whether wholly owned or not, etc., the exemption granted shall stand
revoked and the establishment should promptly report the matter to the RPFC concerned for
grant of fresh exemption.”
Note:
Status Under EPF:
Housing Development Finance Corp Ltd was granted exemption from 1st December 1983.
Board of Directors:
S.no Name Designation
1 Mr. Atanu Chakraborty Chairman
2 Mrs. Renu Sud Karnad Additional and Non-Executive (Non-
Independent) Director
3 Dr. Sunita Maheshwari Independent Director
4 Mrs. Lily Vadera Independent Director
5 Mr. Sashidhar Jagdishan Managing Director & Chief Executive Officer
6 Mr. Kaizad M Bharucha Deputy Managing Director
7 Mr. Bhavesh Zaveri Executive Director
8 Mr. Umesh Chandra Sarangi Independent Director
9 Mr. Sandeep Parekh Independent Director
10 Mr. MD Ranganath Independent Director
11 Mr. Keki M. Mistry Additional and Non-Executive (Non-
Independent) Director
12 Mr. V. Srinivasa Rangan Executive Director

Financial Status:
S.No Financial Year Profit After Tax Return on Equity Ratio

1 2013-14 8,478.38 20.88%
2 2014-15 10,215.92 20.36%
3 2015-16 12,296.23 17.97%
4 2016-17 14,549.66 18.04%
5 2017-18 17,486.75 18.22%
6 2018-19 21,078.14 16.30%
7 2019-20 26,257.31 16.76%
8 2020-21 31,116.52 16.60%
9 2021-22 36,961.35 16.90%
10 2022-23 44,108.71 17.39%
As per the condition number 25: “A company reporting loss for three consecutive financial
years or erosion in their capital base shall have their exemption withdrawn from the first day of
the next/succeeding financial year.”
Note: As per financial statement of company it has been overserved that the financial condition
of the establishment is stable. So the condition no 25 is not revoked.
Shareholding
S.No Particular Shareholding Percentage

1 Promoter Group 00.00%
2 Foreign Institutional Investors (FII) 73.09%
3 Individual shareholders 09.25%
4 Insurance companies 08.42%
5 Mutual Funds/UTI 03.04%
6 Corporate Bodies 02.77%
7 Financial Institutions/Banks 02.11%
8 NRI/OCB/FDI/Others 01.32%
Total 100%
Major subsidiaries and associates
HDFC's key associate and subsidiary companies include HDFC Bank, HDFC Life Insurance
Company, HDFC ERGO General Insurance Company, HDFC Asset Management Company, and
HDFC Capital Advisors.
HDFC Bank
HDFC holds 26.14% of shares in HDFC Bank. HDFC Bank sources home loans for HDFC for a
fee. The key business areas of HDFC Bank are wholesale and retail banking and treasury
operations. As of April 2023, its market capitalization was ₹941,386 crores (US$120 billion),
making it India's third largest publicly-traded company.
HDFC Life Insurance Company

HDFC holds approx. 48.7% of shares in HDFC Life and is the sole promoter of the company, as
of May 2023.In September 2013, it was ranked third in terms of market share of private life
insurance companies in India. On the same date, it had a network of approx. 72,000 financial
consultants to sell its policies.
HDFC Asset Management Company

HDFC formed HDFC Mutual Fund as a joint venture with Standard Life Investments in 1999.
HDFC Asset Management Company is the investment manager of HDFC Mutual Fund's
schemes. HDFC holds a 52.6% stake and is the sole promoter of the company as of June
2023.HDFC AMC manages 68 schemes comprising debt, equity, exchange traded fund and fund
of fund schemes.Average assets under management (AUM) as at the end of March 2022 is
₹4.07553 trillion. It is ranked first in the industry in India on the basis of average assets under
management.
HDFC ERGO General Insurance Company

HDFC formed this General Insurance company with ERGO Insurance Group. HDFC holds
50.5% and ERGO holds 26% of the shares. By the end of September 2013, its Market share in
General Insurance stood at 4.1% (overall) in terms of gross gross direct premium in first half
year of FY 2013–14. The total employee strength of the company as of March 31, 2013 was
1,389.
HDFC Capital Advisors
Established in 2016, HDFC Capital Advisors is a private equity real estate firm. As of April
2023, HDFC holds 90% stake in the company while Abu Dhabi Investment Authority holds the
remaining 10%. In 2022, two wholly-owned subsidiaries of HDFC, viz. HDFC Property
Ventures and HDFC Venture Capital, were merged into HDFC Capital Advisors.
Former subsidiaries and associates
HDFC Credila Financial Services

HDFC Credila is a non-banking finance company and was the first Indian lender to exclusively
focus on education loans. The company lends to under-graduate and post-graduate students
studying in India or abroad. HDFC held about 90% shares in this company. In 2023, HDFC sold
a majority stake in HDFC Credila to a consortium of private equity firms, led by Baring EQT
and ChrysCapital, for ₹9,060 crores (US$1.1 billion).
HDFC RED
Launched in 2010, HDFC held a 100% stake in HDFC RED, a real estate online listings platform
operating under HDFC Developers Ltd. The company focuses on real estate, avoiding resale and
rental services. In 2018, HDFC sold HDFC RED and HDFC Realty to Quikr for ₹357 crores
(US$54.82 million).
GRUH Finance
HDFC held approx. 59% in GRUH, a housing finance company offering loans to individuals for
purchase, construction and renovation of dwelling units. GRUH also offers loans to the self-
employed segment where formal income proofs are not available. It has a retail network of 136
offices across 7 states in India.
On 17 October 2019, GRUH Finance was formally merged into Bandhan Bank, giving HDFC a
14.9% stake in Bandhan.

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HDFC

(Housing Development Finance Corporation)

12 Mr. V. Srinivasa Rangan Executive Director

S.No Financial Year Profit After Tax Return on Equity Ratio

S.No Particular Shareholding Percentage

HDFC Life Insurance Company

HDFC Asset Management Company

HDFC ERGO General Insurance Company

Former subsidiaries and associates

HDFC Credila Financial Services

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