CAN FIN HOMES Q3 NET UP 27%

Article Abstract:

Can Fin Homes Ltd has increased its net profit by 27 percent in the third quarter ended December 31, 1998. Its profit before tax has risen by 20 percent to Rs14.42 crore on total income of Rs83.54 crore in the third quarter of 1998-99 against profit before tax of Rs11.99 crore on total income of Rs77.06 crore in the third quarter ended December 31, 1997. The company has improved its income from loans by 8.4 percent while sanctions have increased by 26 percent to Rs131.43 crore from Rs104.43 crore. (khr)

Land Subdivision and Land Development, Sales, profits & dividends, Housing Developers, Can Fin Homes Ltd

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RBI EASES TERMS FOR HOUSING LOAN

Article Abstract:

The Reserve Bank of India has removed the restrictions on banks financing over five-year-old housing units. This will help the banks achieve their annual housing finance targets set by the 1999-2000 Government of India budget. The lending banks are to design their own operational guidelines. The market for old houses is quite large and a large number of loan applications are expected. The lower interest rates are likely to attract the borrowers to the banks. (um)(psr)

Commercial Banking, Financial management, Mortgage and Nonmortgage Loan Brokers, Consumer Mortgage Loans, Commercial & Savings Banks, Mortgages, Reserve Bank of India

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