We met the management of HDFC to get an insight into the company and the housing finance industry. With regard to usual business parameters like loan growth, margins and asset quality, the company maintained that steady performance would continue ahead. Demonetisation impacted the business temporarily but now normalcy has returned. Loan against property (LAP) accounts for ~5% of the individual loan book at ~| 11000 crore. The company has been less aggressive in the LAP space compared to other companies. This is due to focus on lending against residential...