In our Big Story titled ‘Four stocks to ride out the market volatility’ (https://tinyurl.com/4stocksBS) we highlighted how HDFC is a good stock to accumulate for the long term. The company’s fourth qu
India’s leading housing financier HDFC on Friday reported a 42.43 per cent year-on-year growth in standalone net profit at Rs 3,179.83 for January-March quarter of FY21 (Q4FY21). This compares with profit of Rs 2,232.5 crore reported in the previous year period (Q4FY20). On a quarterly basis, the profit rose 8.6 per cent from Rs 2,925.8 crore reported in Q3FY21. HDFC’s Board also approved re-appointment of Keki M. Mistry as the managing director (MD) of the Corporation for a period of three years with effect from May 7, 2021. Besides, it has recommended a final dividend of Rs 23 per equity share for FY21, compared to Rs 21 per equity share in the previous year.
HDFC Q4 Result: Profit up 42% YoY at Rs 3,180 crore
The housing finance lender said in a statement that the profit before tax for the quarter ended March 31, 2021, stood at Rs 3,924 crore compared to Rs 2,692 crore in the corresponding quarter of the previous year, representing a growth of 46 per cent.
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UPDATED: May 7, 2021 19:10 IST
Housing finance lender HDFC s shares jumped on the BSE after it declared Q4FY21 results. (Photo: Reuters)
Housing finance lender HDFC has reported a net profit of Rs 3,180 crore for the January-March quarter. The company has reported a 42 per cent year-on-year (Y-o-Y) growth in standalone net profit for Q4FY21.
Silence over sops for middle-income housing surprises real estate sector
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In a bid to boost demand for real estate and construction activity, the government had extended the benefit of the Credit Linked Subsidy Scheme (CLSS) by a year to March end. There’s been no intimation on a further extension of the scheme, which may end up hurting PM Modi’s objective of Housing for All by 2022, apart from hitting the economy.
The government’s silence on extending a subsidy scheme for the middle-income group under the Pradhan Mantri Awas Yojna beyond March 2021 has surprised potential homebuyers, experts and industry stakeholders.
PMAY Subsidy Calculator: Calculate PMAY Subsidy on Home Loan magicbricks.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from magicbricks.com Daily Mail and Mail on Sunday newspapers.