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NEW DELHI: Shares of Indiabulls Housing climbed 9 per cent in an otherwise weak trading session on Thursday after the housing finance company (HFC) entered into a strategic co-lending partnership with HDFC to offer housing loans to homebuyers at competitive rates.
HDFC is the market leader in the housing finance industry with assets under management of Rs 5,52,167 crore.
As per the agreement, Indiabulls Housing will originate retail home loans as per jointly drawn up credit policy and retain 20 per cent of the loan in it s books and 80 per cent will be on HDFC books. Indiabulls Housing will service the loan account throughout the life cycle of the loan.