“All this means that housing is going to be a huge growth opportunity and one of the key drivers of India’s GDP over the next decade.”
Putting forth the statistics, Jagdishan said that only 2% of its customers source their home loans from it, while 5% do it from other institutions. “The latter is equivalent to the size of our retail book. Home loan customers typically keep deposits that are 5 to 7 times that of other retail customers. And about 70% of HDFC Ltd’s customers do not bank with us.”
All these give HDFC Bank the idea about the size of the opportunity, he said, adding that the long tenor nature of home loans provides resilience to the balance sheet. The bank is one of the largest consumer durable financiers in the country.