HDFC sees 20% loan growth in 2009-10

HDFC sees 20% loan growth in 2009-10
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First Published: Fri, Feb 20 2009. 01 13 PM IST
Mumbai: Housing Development Finance Corp, India’s top mortgage lender, sees 2009-10 loan growth at about 20%, slightly lower than the previous year’s as property demand falls, a top official said on Friday.
“Property demand is lower as customers expect prices to fall. Also there is a high base effect,” Keki Mistry, vice-chairman and managing director said on the sidelines of a private equity conference.
He added interest rates in the system are likely to fall by 50 basis points in the immediate future as inflation has started cooling off, giving room for rates to be dropped.
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First Published: Fri, Feb 20 2009. 01 13 PM IST
More Topics: HDFC | Loans | Real estate | RBI | Rate cuts |