Housing Development Finance Corporation Ltd
Sales (2007-2008) = Rs.8000 crores (rounded off)
Net profit after tax= Rs.2400 crores (rounded off)
CSR Budget: 5.43 crores
Karmayog 2008 CSR Rating: 4/5
CSR activities:
It is often forgotten that business and society go hand in hand. Business is after all a social process. It is linked with different people who are involved as employees, suppliers, customers, and shareholders or simply as members of the community in which the business operates. Costs, sales and profit all have a social element. The first requirement of business success is sustainable profits. A socially responsible business sustains profits over time and replenishes the capital that it invests in its business and the community. This capital is not only in the form of finance, physical assets and human resources but also reputational (i.e. goodwill) and social. When a business contributes to social capital, it is acting responsibly and ethically. If through planned CSR activities, a business tries to bring about social change, it is not only fulfilling its responsibility but it is also protecting its own future interest. Over the past three decades, there has been a consistent effort at HDFC to widen its role and scope as a responsible corporate. The followingpages illustrate the varied projects supported by the corporation through the Shelter Assistance Reserve and our continued bulklending operations in low-income housing and micro-finance.
Shelter Assistance Reserve
The Shelter Assistance Reserve is an internal fund at HDFC that has over the years contributed to the cause of numerous NGOs, public institutions and community-based organisations by supporting them with financial assistance including grants. During the year, HDFC has partnered with over 170 NGOs and voluntary agencies that have undertaken diverse social and development initiatives, thereby resulting in an overall utilisation of Rs. 5.43 crore. The segment-wise break-up of the utilisation of the Reserve for FY08 is illustrated in the chart below. Cited below are a few cases in no specific order, with information on some of HDFC�s partner NGOs, which were funded out of the Reserve during 2007-08:
The Akshaya Patra Foundation
According to UNESCO�s Education for All � Global Monitoring Report 2007, close to 13.5 million children in the age group of 6 � 13 years are out of school in India because of poverty and hunger. The Akshaya Patra Foundation aims to address this issue by appeasing hunger and thereby facilitating education. The Foundation runs a strategic school-meal cum holistic development program making it one of the largest NGO-run school meal programs in the world. Currently feeding over 8,00,000 students everyday, the Foundation aims to serve one million children by 2010. Eventually, their vision is to ensure that no child in India is left out and every child has equitable access to food, nutrition and sound health. The Foundation started its activities on a small scale in June 2000, feeding 1,500 children in five schools within Bangalore city. Today, Akshaya Patra reaches out to nearly 3,000 schools across the states of Karnataka, Rajasthan and Uttar Pradesh. In addition, the Foundation has recently started a subsidized mid-day meal program for daily wage labourers on construction sites in the city of Jaipur. This program has been started in partnership with HDFC and the local developer community.
National Association for the Blind
National Association for the Blind (NAB) is one of India�s largest and oldest NGOs working for the cause of the visually challenged, empowering them through the medium of education and training. Their aim is to make the visually challenged self-reliant, thereby integrating them with dignity as contributing members of the mainstream society. NAB has always believed in focusing on the abilities of visually challenged individuals and has followed a professional path in creating opportunities for their growth and empowerment. The organisation has strived to strike the correct balance between the needs of modern / urban and rural blind and has engaged in advocacy and policy level issues for both categories. NAB has also been active on the global arena – it is the founding member of the World Blind Union. NAB has been distributing braillers to the needy visually challenged school children and employed persons for the last 30 years. A brailler is a simple machine, which is used to write Braille enabling the user to take notes at considerable speed. To date, the organization has donated over 500 braillers for educational purposes in 14 states, either free of cost or at a nominal rent. NAB is currently in touch with several students who are in need of braillers but are unable to afford the same. HDFC partnered with NAB to sponsor new braillers for 50 visually challenged students.
Deepalaya
Conceived as a special project working on the issues affecting poor urban children, Deepalaya is today one of the largest NGOs in Delhi striving to universalise their philosophy that �every child deserves a chance�. For the past 28 years, Deepalaya has been active in the urban slums of Delhi and has also made inroads into rural development in the state of Haryana. Deepalaya is currently benefiting over 35,000 children and their families by undertaking integrated development projects. Deepalaya�s focus and entry point is the child leading to interventions at the level of the family and thereafter the community as a whole. Deepalaya runs over 30 projects in the areas of education, differently-abled, health, gender-equity and institutional care. Taking into account the poor health and living conditions and the inadequate health-care facilities in slum pockets, Deepalaya plans to run a community health care program in 6 slum clusters in South Delhi, aiming to cover more than 1500 children. HDFC has partnered with Deepalaya in this initiative to render accessible and affordable health care services including information dissemination to the children and their mothers.
Source: Complete details of Social initiatives available on the link below www.hdfc.com/others/popup/about_us/annual2008/Social%20Initiatives.pdf (Annual Report �07-�08)
www.smilefoundationindia.org/hdfc.htm
Contact Information:
Housing Development Finance Corporation Ltd
Ramon House, 169, Backbay Reclamation,
H T Parekh Marg, Churchgate
MUMBAI – 400 020
Maharashtra
Phone no. : 22- 66316000
Fax : 22- 22048834
E-mail :
Website : www.hdfc.com/
Industry Sector: Finance – Housing
Products / Services: Finance – Housing
Other locations of factories / offices: Branches all over the country and abroad
Previous year�s CSR activities & rating:
www.karmayog.org/csr500companies/csr500companies_7861.htm