MUMBAI : Mortgage lender HDFC Ltd on Thursday reported a standalone internet revenue of ₹4,454 crore for the three months via September, up 17.8% from the identical interval final 12 months, on the again of upper earnings.
Its complete income from operations stood at ₹15,027 crore, up 23% on a year-on-year (y-o-y) foundation. HDFC stated in a press release that the financial coverage and rate of interest actions have had a short-term impression on the web curiosity earnings (NII) and to a lesser extent on the web curiosity margin (NIM). The NII for the quarter ended 30 September stood at ₹4,639 crore in comparison with ₹4,110 crore within the earlier 12 months, exhibiting a progress of 13%. Its reported NIM for the primary half of the monetary 12 months stood at 3.4%.
In the course of the half-year ended 30 September, particular person approvals and disbursements grew by 35% and 36% respectively in comparison with the corresponding interval within the earlier 12 months. The lender stated that the demand for residence loans continues to stay robust and progress in residence loans was seen in each, the mid-income section in addition to excessive finish properties.
Within the first six months of the fiscal, 92% of recent mortgage functions had been acquired via digital channels, HDFC stated. In the identical interval, the typical measurement of particular person loans stood at ₹35.7 lakh in comparison with ₹33.1 lakh in FY22. On the finish of the September quarter, HDFC’s belongings underneath administration stood at ₹6.9 trillion as in opposition to ₹5.97 trillion within the earlier 12 months. Particular person loans accounted for 81% of the overall AUM.
On an AUM foundation, the expansion within the particular person mortgage ebook was 20% and progress within the complete mortgage ebook on an AUM foundation was 16%. In the course of the September quarter, HDFC assigned loans value ₹9,145 crore to HDFC Financial institution. Loans bought within the previous 12 months amounted to ₹34,513 crore, it stated. As on 30 September, the excellent quantity in respect of particular person loans bought was ₹93,566 crore.
HDFC stated that its gross particular person non-performing loans stood at 0.91% of the person portfolio, whereas the gross non-performing non-individual loans stood at 3.99% of the non-individual portfolio. The gross dangerous loans as on 30 September stood at ₹9,355 crore or 1.59% of the portfolio.
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Supply: Live Mint