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Our Bureau

Mumbai , Oct. 6

HDFC expects to maintain a 30 per cent growth in lending in the current fiscal.

On a year-on year basis, the company has been growing at 30 per cent for the past nine years, said Mr Keki Mistry, Managing Director, HDFC Ltd.

He said home loan rates are attractive and there is still plenty of demand for residential housing.

The overall housing loan market too is likely to see 25-30 per cent growth, said Mr Mistry while speaking at a banking seminar organised by FICCI.

Mr Mistry said that the boom in residential housing is not a bubble. However, the boom in commercial sector or non-individual housing could be one, considering the high prices at which land is being bought in some areas.

HDFC expects to maintain interest margins at 2.17 per cent, which was the same for the quarter ended June 30, 2005. The company will continue to focus on retail loans, which make up 70 per cent of its portfolio.

There is likely to be no pressure on interest rates in the short term, Mr Mistry said, as real interest rates are still high.

"The oil price is not being passed on to the consumer. Even if inflation rises by 2-3 per cent, there is enough cushion because of liquidity. So, there is no pressure on interest rates," he said.

BPO unit's IPO: HDFC is planning to list Intelenet, its BPO subsidiary, by 2007. The subsidiary, which is a joint venture with Barclays, UK, had revenues of Rs 250 crore in 2004-05.

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