HDFC Ltd right this moment reported standalone internet revenue of ₹3,700 crore for the March quarter, up 16% from ₹3,180 crore clocked within the year-ago interval.
On Monday, HDFC shares had been up 1.22% in midday offers at ₹2,256.80 apiece on NSE.
The Board has advisable a dividend for the yr ended March 31, 2022 of ₹30 per fairness share.
The NII for the March quarter stood at ₹4,601 crore in comparison with ₹4,027 crore within the earlier yr, representing a progress of 14%.
“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 mission launches augurs nicely for the housing sector,” HDFC stated in a submitting.
As at March 31, 2022, the property below administration (AUM) stood at ₹6.53 lakh crore as in opposition to ₹5.69 lakh crore within the earlier yr. On an AUM foundation, the expansion within the particular person mortgage e book was 17% and progress within the whole AUM was 15%.
HDFC additional stated the non-individual mortgage e book recorded a progress through the quarter below evaluation, with pipeline of loans from lease rental discounting and development finance.
The nation’s largest mortgage lender, which is within the technique of merging with HDFC Financial institution, has seen sturdy demand for house loans led by revival in client spending because the depth of infections from the pandemic eased. After the merger with the nation’s second-largest lender, the mixed entity shall be twice as giant as ICICI Financial institution, the third largest in India.
The Mumbai-based financier put aside ₹400 crore in provisions for the unhealthy loans through the quarter, up from ₹390 crore three months earlier, and ₹720 crore a yr in the past.
Supply: Live Mint