Index : 1,932 | 1Yr : +23.67% | 1Mo : -0.42%
Category : Groups & Conglomerates
Min Investment : 6,293
Founded in 1977 by Hasmukhbhai Parekh, HDFC started off as a specialised mortgage company. It was promoted by ICICI. In the later years of Hasmukhbai, his nephew Deepak Parekh took over the business and within 2 decades it became the largest and most revered Non-Banking Financial Company (NBFC) in India. HDFC group was among the 11 out of 100+ applicants which were granted banking licenses in the mid 1990s. Their subsidiary HDFC bank has become India's largest bank surpassing State Bank of India and other well established players in its early lifespan.
HDFC group is now a diversified financial conglomerate which spans banking, life insurance, general insurance, asset management, real estate and capital markets. It is well known for its high professional standards, transparency and careful management skills. Due to these factors, their businesses have gone from strength to strength in a very short duration. Today, it has one of the strongest brand values and is widely recognized to have 'The gold standard of corporate governance'. The combined market value of their listed companies makes HDFC the second wealthiest group in India.