HDFC and Indiabulls Housing Finance Ltd ink strategic co-lending partnership

Housing Development Finance Corporation Limited (HDFC / Corporation) has entered into a strategic co-lending partnership with Indiabulls Housing Finance Limited (Indiabulls HFL) to offer housing loans to homebuyers at competitive rates, subject to the compliance with the applicable law(s) including the applicable guidelines issued by Reserve Bank of India (RBI). The participation by both the entities in extending the credit facilities shall be on a sharing of risk and reward basis on mutually agreed terms.

Indiabulls HFL is a RBI regulated housing finance company with pan India branch network and has a track record of customer acquisition.

Under the arrangement, Indiabulls HFL will originate and process retail home loans as per jointly formulated credit parameters and eligibility criteria. The Corporation will have 80% of the total loan in its books and its share of every loan will be approved by the Corporation. Indiabulls HFL will service the loan account throughout the life cycle of the loan. Technology led co-lending is expected to help both the companies to offer convenient and seamless experience to its customers as well as help expand their reach to Tier III and IV cities of India.

Shares of HOUSING DEVELOPMENT FINANCE CORP.LTD. was last trading in BSE at Rs.2414.9 as compared to the previous close of Rs. 2493.75. The total number of shares traded during the day was 107824 in over 12674 trades.

The stock hit an intraday high of Rs. 2540 and intraday low of 2406.2. The net turnover during the day was Rs. 264577122.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.165.1 as compared to the previous close of Rs. 160.8. The total number of shares traded during the day was 541252 in over 3642 trades.

The stock hit an intraday high of Rs. 168.05 and intraday low of 162.1. The net turnover during the day was Rs. 89635892.

Source : Equity Bulls

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