Mortgage lender HDFC on Wednesday reported an 11% rise in its standalone web revenue for the third quarter ended December 2021 at ₹3,260.6 crore as in comparison with ₹2,925.8 crore in the identical quarter final 12 months. Shares of HDFC have been buying and selling greater than 1% increased at ₹2,610 apiece on the BSE within the afternoon offers.
Its complete income from operations rose to ₹11,783.6 crore from ₹11,707 crore year-on-year (YoY). The online curiosity revenue (NII) for the quarter ended December 31, 2021 stood at ₹4,284 crore in comparison with ₹4,005 crore within the earlier 12 months. Its Internet Curiosity Margin (NIM) got here at 3.6%.
As at December 31, 2021, the property below administration (AUM) stood at ₹6,18,917 crore as in opposition to ₹5,52,167 crore within the earlier 12 months, and particular person loans comprise 79% of the AUM. On an AUM foundation, the expansion within the particular person mortgage e book was 16% and development within the complete AUM was 12%, the corporate stated.
“In December 2021, the company recorded its second highest month-to-month particular person disbursements ever. That is even supposing the earlier 12 months entailed concessional stamp responsibility advantages in sure states which was not there within the present 12 months,” HDFC stated in an alternate submitting.
The demand for house loans and pipeline of mortgage purposes continues to stay sturdy. Progress in house loans was seen in each, the reasonably priced housing section in addition to in excessive finish properties. The growing gross sales momentum and new undertaking launches augurs nicely for the housing sector, it added.
Supply: Live Mint