Indiabulls Housing Finance Limited ("IBH") has entered into a strategic co-lending partnership with HDFC Ltd to offer housing loans to homebuyers at competitive rates.
Incorporated in 1977, HDFC Ltd is the market leader in the housing finance industry in India with assets under management of ₹ 5,52,167 Crore as at end of December 2020. HDFC Ltd is a gold standard financial services company and is rated at the highest long term rating of AAA by CRISIL, ICRA and CARE Ratings. HDFC Ltd's long track record and experience as India's premier housing finance company has helped it build strict underwriting standards and risk management procedures.
IBH will originate retail home loans as per jointly drawn up credit policy and retain 20% of the loan in it's books and 80% will be on HDFC books. IBH will service the loan account throughout the life cycle of the loan. Co-lending partnership with HDFC Ltd will act as a cornerstone to IBH's new balance-sheet light growth business model. Moreover, technology led co-lending will help IBH offer convenient and seamless experience to its customers as well as help expand its reach to Tier III and IV towns of the country.
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.
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.