HDFC Ltd, or Housing Development Finance Corporation Limited, is one of the leading financial institutions in India. The company was established in 1977 with the objective of providing finance for the purchase or construction of homes. Here is a brief history of HDFC Ltd:
- 1977: HDFC Ltd was incorporated as the first specialized mortgage company in India.
- 1980: HDFC Ltd became the first private sector company to be approved by the Reserve Bank of India (RBI) to set up a housing finance company.
- 1990: HDFC Ltd became the first Indian company to issue American Depository Receipts (ADRs) in the US.
- 1996: HDFC Ltd was listed on the New York Stock Exchange (NYSE).
- 1999: HDFC Ltd was listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
- 2000: HDFC Ltd set up HDFC Bank as a subsidiary.
- 2008: HDFC Ltd launched its real estate investment trust (REIT), HDFC Property Fund, which was one of the first private equity funds to invest in the Indian real estate market.
- 2014: HDFC Ltd was ranked as India’s most valuable brand by BrandZ.
- 2017: HDFC Ltd’s subsidiary, HDFC Standard Life Insurance, was listed on the BSE and NSE.
Today, HDFC Ltd is a diversified financial services company that provides a range of products and services including home loans, insurance, mutual funds, and banking services. The company has a strong presence in India and has also expanded internationally, with offices in Dubai, London, and Singapore.
Important takeaways for all competitive exams:
- HDFC Ltd Founder: Hasmukhbhai Parekh;
- HDFC Ltd Founded: 1977;
- HDFC Ltd Headquarters: Mumbai.
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