Mortgage-lending pioneer Housing Development Finance Corp (HDFC) is making final attempts to offload stressed loans of around ₹2,000 crore extended to developers ahead of its merger with the bank it spawned nearly three decades ago. These loans are spread across 7-8 accounts, and include advances to the local owners of Radisson Blu properties, two banking sources close to the development told.
Housing Development Finance Corp (HDFC) is in talks with asset reconstruction companies to offload loans of about INR2,000 crore extended to developers ahead of its merger with HDFC Bank. These loans are spread across 7-8 accounts, including advances to the local owners of Radisson Blu properties, two sources told ET. A spokesperson of HDFC did not respond to an email query, while Alvarez and Marsal and Omkara ARC refused to comment. Some loans may include non-performing assets, while others may be stressed but not yet declared as NPAs.
