HDFC to invest Rs 10 billion in stressed asset fund for realty segment

Housing Finance Development Corporation (HDFC) had also bid for buying out public sector lender Canara Bank's 30 per cent stake in CanFin Homes

Housing Finance Development Corporation (HDFC) is planning to put up to Rs 10 billion in a stressed asset fund for the realty segment.

Implementation from last year of the Real Estate (Regulation and Development) Act is expected to throw up a number of opportunities for the restructuring of real estate entities and to nurse stressed assets. 

In December 2017, Keki Mistry, vice-chairman and chief executive of HDFC, had said the plan was to acquire incomplete projects and complete these, using the company’s brand image to sell space. Asked if they would go solo, Deepak Parekh, chairman, had said they were