India should emerge as a more property-owning democracy, where citizens feel more prosperous owning a home, said Deepak Parekh, chairman of country’s largest mortgage lender (HDFC), which is judged as the best company of the year at ET Awards for 2020.
“This award gives all of us at HDFC a renewed zest and work harder to make India a larger and more property-owning democracy,” the chairman said after receiving the award.
“There is no greater security than a home. We know that people feel safer, happier and healthier and more prosperous when they are homeowners,” he said.
The government too has been focusing on it with its flagship programme – Housing for All by 2022. North Block has extended sops to own a home, particularly in smaller cities and towns. But, an outbreak of coronavirus has thrown a spanner with the economy slipping into a slow lane. In the past one year, the economy has taken a hit as North Block has swung into action to prevent the virus from spreading.
“This award is extraordinarily special for us in HDFC, particularly because of the timing,” said Parekh.
“For us, this award will always be a remembrance of how grateful we are to have emerged in one of the most scathing time in the memory,” said the veteran banker attributing the achievement of winning the award to customers and stakeholders.
Following a record economic contraction, home loan expansion hit a roadblock with falling individual income. The authorities came out strongly backing it with liquidity measures, which in turn, helped companies to survive amid a cash squeeze at the peak of virus-induced lockdown.
“In equal measure, we deeply acknowledge the timely measures and support of the government, the Reserve Bank of India and other regulators, whose collective efforts at the systemic level, helped stabilise and restore confidence in our financial markets,” said the chairman.
Parekh sought to shrug off any complacency that might arise after owning the crown of best company of the year.
“At HDFC we will continue to strive towards helping more Indians to become homeowners,” he said.
“This was the very purpose for which it was set up.”
The chairman congratulated other award winners for their achievement while acknowledging his own employees’ contribution/commitment in difficult times.
“We have promises to keep and miles to go before we sleep. And miles to go before we sleep,” he said quoting Robert Frost, an American poet.
“This award gives all of us at HDFC a renewed zest and work harder to make India a larger and more property-owning democracy,” the chairman said after receiving the award.
“There is no greater security than a home. We know that people feel safer, happier and healthier and more prosperous when they are homeowners,” he said.
The government too has been focusing on it with its flagship programme – Housing for All by 2022. North Block has extended sops to own a home, particularly in smaller cities and towns. But, an outbreak of coronavirus has thrown a spanner with the economy slipping into a slow lane. In the past one year, the economy has taken a hit as North Block has swung into action to prevent the virus from spreading.
“This award is extraordinarily special for us in HDFC, particularly because of the timing,” said Parekh.
“For us, this award will always be a remembrance of how grateful we are to have emerged in one of the most scathing time in the memory,” said the veteran banker attributing the achievement of winning the award to customers and stakeholders.
Following a record economic contraction, home loan expansion hit a roadblock with falling individual income. The authorities came out strongly backing it with liquidity measures, which in turn, helped companies to survive amid a cash squeeze at the peak of virus-induced lockdown.
“In equal measure, we deeply acknowledge the timely measures and support of the government, the Reserve Bank of India and other regulators, whose collective efforts at the systemic level, helped stabilise and restore confidence in our financial markets,” said the chairman.
Parekh sought to shrug off any complacency that might arise after owning the crown of best company of the year.
“At HDFC we will continue to strive towards helping more Indians to become homeowners,” he said.
“This was the very purpose for which it was set up.”
The chairman congratulated other award winners for their achievement while acknowledging his own employees’ contribution/commitment in difficult times.
“We have promises to keep and miles to go before we sleep. And miles to go before we sleep,” he said quoting Robert Frost, an American poet.
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6 Comments on this Story
 | Prakash Ramiah2 hours ago No concrete jungles mortgage prisoners,no vulture funds,no cross collaterals. One acre bandra kurla land owner at 400 cr valuation or one corporate swallowing 2000 cr as commercial rent discounting is not the way to help indian own flats.80 lac circle rates,fsi from 1,2,3 premium fsi,transferable dev rights and valuation gurus property consultants giving false cash flows bankers should desist. As mentioned in tamil nadu housing policy 2020 go 61 all should encourage voucher scheme in supply of flats and demand by not lending if the voucher content is 50 percent. Then only real meaning of property ownership in a land starved country will kick start.fsi is for landed,what does a 35 cr houseless landless first shelter seeking with no ancestral property ,slum dwellers get. Cone with vouchers of 10 lacs at 450 sq ft459 to 900 sq ft at 20 lacs,900 to 1350 sq ft vouchers at 20 to 30 lacs repaid over 25 year.as early as ar the age of 25 every one will start their married life in their own house with 20 percent outlay from salary.150 sq ftbadic fsi as birth right needed. As per united nation spl rapporteur report housi g is not commodity,but right.shelterlessness is a myth. One nation one hsg policy from ladak to 8indira point is housing..hdfc need not help,it should facilitate. Rera rbi should put vigilance on banks not used for monitising land.real wealth is by using cement,steel, labour. Not by per sq ft at one kac out of which 8000 is construction.let us build really wealth . |
| Krishna Vijay2 hours ago 'A house is not an asset. It's a person's biggest liability': Robert Kiyosaki When you are broke or have no source of income then your house will be of no use. These banks just want to fill their own pockets by making Indians fall into the trap of house loan debt. |
 | Abhay Sandwar5 hours ago Winning award is good .How general public is benefitted needs clarification and wide b publicity too ..Coorection in approach needed very soon .A small group of persons benefitted can not be a measuring rod of success . |