HDFC turnover to touch Rs 32,000 cr in 2007-08

Bangalore, Oct 5: The turnover of Housing Development Finance Corporation Limited (HDFC) was expected to touch Rs 32,000 Crore during the current fiscal, HDFC Managing Director Keki Mistry said today.

Talking to newsmen here, he said that with 20 per cent to 25 per cent growth expected this year the figure would reach to Rs 32,000 from Rs 26,000 registered last year.

He said that in recovery front also the Corporation was doing well and against lending of Rs 1,25,000 Crore Housing loan disbursed since inception in 1980, the recovery was Rs 48,000 Crore.

Mr Mistry said that though the housing sector contributing six per cent to the GDP,, the penetration of housing loan in the country was very low.

Earlier, Mr Mistry inaugurated a three-day 'Namma Mane' (Our House) property exhibition in which 42 reputed developers putting up their stalls and over 150 projects exhibited.

He said that Bangalore's real-estate scenario was upbeat. The city in the past few years has become a sought after destination for the cosmopolitan Indians. Booming industries, stable economic growth, well planned infrastructure and ample job opportunities attracts a large number of young population to Bangalore, which has spurred a health demand for residential properties in the City.

UNI