Housing Development and Finance Corporation: The Indian Housing & Services Provider
24 Pages Posted: 29 Oct 2007
Date Written: October 9, 2007
Abstract
Housing Development Finance Corporation Limited (H.D.F.C) was set up on 17th October, 1977 by I.C.I.C.I. out of the consideration that a specialised institution was needed to channel household savings including funds from the capital market into the housing sector. H.D.F.C. since its seeding has emerged as the largest mortgage finance institution in the country. The main objective of H.D.F.C. is to develop significant expertise in retail mortgage loans to different market segments, to have a large corporate client base for its housing related credit facilities and to support or aid in the promotion of home ownership. H.D.F.C. is India's leading housing finance company and for all practical purposes is synonymous with the domestic housing finance industry.
The primary objective of H.D.F.C is to enhance residential housing stock and promote home ownership. One of its major objectives is to increase flow of resources for housing through the integration of housing financial institutions with the domestic market. H.D.F.C. has developed a strong market reputation, large shareholder base and a unique consumer franchise. H.D.F.C. is respected as India's premier housing finance company in India as well as in the international markets. It has maintained a consistent and healthy growth in its operations while retaining as a clear market leader in mortgages business in India. The company has constantly engaged into innovative practices since its conception.
Keywords: Innovative Practices, Incremental Innovation, Intrinsic & Extrinsic Motivation, Entrepreneurial Competency, Opportunity Recognition, Risk and Uncertainty
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