Who owns HDFC, and why it matters to borrowers

Housing Development Finance Corporation (HDFC) began as a state company in 2004. In July 2008 it was privatised. The International Finance Corporation (IFC), the Asian Development Bank (ADB) and India's HDFC took stakes alongside the government. IFC says the company had stopped lending after using up its initial capital.

Owners today

At 30 June 2026.

A change in prospect

HDFC's 2025 annual report says significant efforts were made in 2025 "to facilitate the orderly exit of foreign shareholders." It says the board considered an equity valuation by KPMG and will seek strategic investors. No buyer or date has been announced. We will report it when it happens.

How HDFC funds its lending

• Bank loans: from Bank of Ceylon, Bank of Maldives and State Bank of India.
• Bonds: two listed issues at 7%, from 2018 and 2019.
• Sukuk: four Islamic issues, the first redeemed in January 2024.
• The Pension Office: HDFC pays 4.9% on pension savings pledged by home buyers.

Size

At end-2025:

• financing portfolio: MVR 1.71 billion;
• profit after tax: MVR 98.2 million;
• reach: HDFC says it has financed more than 24,000 housing units for over 6,000 homeowners.

What it means for a borrower

• Your loan contract does not change when shareholders change.
• Future products and pricing might. A new owner could bring new capital, new products or new priorities.
• The government's 49% and HDFC's role running six ministry housing funds make it a lender with a public mandate.

As published by HDFC on 18 October 2026. Rates and terms change; confirm them with HDFC before you commit. General information, not financial advice.