HDFC-Pioneering Work

HDFC Pioneering Work HOUSING DEVELOPMENT FINANCE CORPORATION (HDFC) has done exceedingly well in the year ended June 30, 1987, with loan approvals and disbursements reaching Rs 237.51 crore and Rs 175.52 crore, registering increases of 27 per cent and 20 per cent respectively over those in the previous year. HDFC, which has demonstrated the possibility of establishing a private housing finance system, both commercially viable and socially responsible, expects to do even better in the current year. As HDFCs chairman H T Parekh told a press conference in Bombay on September 21, the corporation has set a target of loan sanctions of Rs 300 crore and loan disbursements of Rs 235 crore in the year ending June 30, 1988. Sanctions in the first three months of the current year have been Rs 68 crore and disbursements Rs 49 crore.