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Delay in developer loan repayment hits home finance cos

Delay in developer loan repayment hits home finance cos
Project delays, stretched balance sheets impacting asset quality indicators of HFCs. Hit by project delays and stretched balance sheets, developer loans disbursed by housing finance companies (HFCs) are showing a rise in delay of payments. There has been a deterioration in the asset quality indicators for HFCs in the June quarter (Q1) of FY18 due to an increase in gross non-performing assets (NPAs), which rose from 0.84 per cent of gross advances on March 31 to 1.15 per cent as of June 30. The ...
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