Fiis Scale Up Holding In Hdfc To 39.10%

Foreign institutional investment (FII) in Housing Development Finance Corporation (HDFC) has risen to 39.10 per cent in the fiscal ended March 2001 from 31.70 per cent in the previous year.

Capital Group's holdings in HDFC now stands at 6.30 per cent. EM Warburg Pincus through Alpine International and Ensley Ltd has also marginally increased its stake to 8.80 per cent from 8.54 per cent last year.

Banks, financial institutions and insurance companies have reduced their holding from 14.83 per cent to 13.59 per cent during the year under review. UTI's stake in the corporation fell from 8.05 per cent to 7.40 per cent.

Stakeholding of mutual funds has also reduced to 2.27 per cent from 3.29 per cent in the previous fiscal. The share capital of HDFC had in the year 2000-01 increased marginally to Rs 120. 08 crore from Rs 119.11 crore due to grant of employee stock option scheme.

Meanwhile, HDFC Realty, the real estate portal, a joint venture company with e-Mahindra, a division of Mahindra and Mahindra has posted a loss of Rs 2.39 crore for fiscal 2001. The company has posted a brokerage income of Rs 20.76 lakh. The heavy promotions of the portal has lead to advertisement expenses of Rs 1.04 crore.

Gruh Finance, in which HDFC had picked a 54.49 per cent, has recorded a 40.56 per cent increase in net profit to Rs 6.03 crore for the fiscal 2001 from 4.29 crore the previous year. The company has attributed the rise in profit to a 10 per cent growth in disbursements, reduction in the cost of borrowing and lower administrative expenses.

HDFC Developers has recorded a fall in net profit of 56.84 per cent to Rs 44.13 lakh in 2000-01 from Rs 1.02 crore the previous year. Though the project management fees of the company fell from Rs 1.93 crore to Rs 73.63 lakh the lease rental income of the company increased to Rs 27.38 lakh from Rs 9.93 lakh the previous year.

HDFC Investments has recorded a rise in profit of per cent to Rs 5.15 crore in fiscal 2001 from Rs 3.97 crore the previous year. HDFC Standard Life Insurance has recorded a loss of Rs 1. 34 crore in its first year of operations. The company plans to open branches in around 14 locations in the country.

HDFC Asset Management Company has reported a loss of Rs 5.41 crore in fiscal 2001 from a profit of Rs 2.27 lakh the previous year.