Country's largest mortgage firm HDFC Ltd has said it would unlock values of its subsidiaries including life and non-life ventures at opportune time.
Besides, raising concerns over few malpractices in the housing loan sector, HDFC chairman Deepak Parekh in his annual message to shareholders said that allowing customers to shift their housing loans from one lender to another at will does not necessarily ensure growth in housing.
"At an industry level, shifting of housing loans from one player's balance sheet to another does not tantamount to growth in the overall housing market. The overriding objective must always be funding incremental housing," he said.
The outcome of the government's measures, however, will largely depend on the extent of supply of affordable housing and the final price point of these units is crucial, he said.
Loans against property are now experiencing some level of stress, he noted.
Talking about the subsidiaries, Parekh said HDFC has a unique structure, both as a single product financial company and parent of group companies.
"Our subsidiary and associate companies are decentralised and managed and run by independent boards. Our only call on our group companies is performance evaluation of the group CEOs, succession planning, acquisitions and key investments," he said.
HDFC has various subsidiaries like Gruh Finance, HDFC Standard Life Insurance, HDFC ERGO General Insurance, HDFC Credila Financial Services and HDFC Pension Management Company which can be listed.
"We now hope to extract greater value from our group companies and explore listing opportunities, where conducive. To better reflect long-term value creation, investors of HDFC need to increasingly focus on the consolidated rather than the standalone entity," Parekh said.
On the economic prospects, he said India's macro-economic fundamentals have never been stronger than today.
"A number of structural reforms are underway which will place India on a higher growth trajectory. We are excited about our future as we are about India's future and we hope you partake in our optimism," he said.