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| Sunday, 29 December 2002 |
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| News Business Features Editorial
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HDFC makes record profit Housing Development Finance Corporation made a profit before taxation of Rs. 189 million and Rs. 125 million after taxation which is an improvement on last year's impressive gains during the period ending 31.12.2001 said Mr. A. Kandappah Chairman of HDFC. The impressive growth has enabled the HDFC to declare a dividend of 5% or Rs. 18 million for the Shareholders for the year under review; the effective dividend in regard to original holdings would be thirty per cent, said A. Kandappah, Chairman HDFC. The Corporation has achieved a high rate of growth despite adverse economic conditions during 2001. He also said that it is worth noting that out of the total number of 7471 loans valued at Rs. 529 million granted to low-income sector by Banking Institutions under the Asian Development Bank Low Income Housing Programme, 3683 loans valued at Rs. 406 million have been granted by the HDFC. |
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