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HDFC Q4 beats estimates; net profit rises 8.7% to Rs 3,180 crore

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Mortgage lender Housing Development Finance Corporation Ltd (HDFC) posted a net profit of Rs 3,180 crore for the quarter ended March 2021, registering a growth of 8.68 percent over Rs 2,926 crore in the previous quarter.

Mortgage lender Housing Development Finance Corporation Ltd (HDFC) posted a net profit of Rs 3,180 crore for the quarter ended March 2021, registering a growth of 8.68 percent over Rs 2,926 crore in the previous quarter.
Net interest income  (NII) during Q4FY21 was flat at Rs 4,065 crore as against Rs 4,068 crore, QoQ.
Net profit and NII were ahead of CNBC-TV18 analysts' poll estimates of Rs 2,816.1 crore and Rs 4,029 crore, respectively.
The profit numbers for the year ended March 31, 2021, are not comparable with those of the previous year as the corporation had recorded a fair value gain consequent to the merger of GRUH Finance Ltd (GRUH) with Bandhan Bank Ltd amounting to Rs 9,020 crore.
Individual gross NPAs during the quarter were at 0.99 percent versus 0.98 percent, while non-individual gross NPAs were at 4.77 percent versus 4.35 percent, QoQ.
"The demand for home loans continued to remain strong owing to low interest rates, softer property prices, concessional stamp duty rates in certain states and continued fiscal incentives on home loans," HDFC said in a regulatory filing.
"The Board also approved the issuance of Redeemable Non-Convertible Debentures (secured or unsecured) and/or any other hybrid instruments (not in nature of equity shares) up to Rs 1,25,000 crore on a private placement basis," added the company.
HDFC Board has also approved the re-appointment of Keki Mistry as MD for another three years.
As on March 31, 2021, the loans on assets under management (AUM) basis stood at Rs 5,69,894 crore as against Rs 5,16,773 crore in the previous year.
As of March 31, 2021, individual loans comprise 77 percent of the AUM. The individual loan book on an AUM basis grew 12 percent and the nonindividual loan book grew by 4 percent. The growth in the total AUM was 10 percent.
The company announced a dividend of Rs 23 per share.
At 2:20 pm, the shares of HDFC were trading 2.69 percent higher at Rs 2,495.90 apiece on the BSE.

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CompanyPriceChange%Gain
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Axis Bank750.90 14.65 1.99
ICICI Bank645.30 10.15 1.60
HDFC Life692.55 10.85 1.59
HUL2,391.95 27.35 1.16
CompanyPriceChange%Gain
Asian Paints3,041.85 93.75 3.18
Axis Bank750.75 14.50 1.97
ICICI Bank645.05 9.95 1.57
HUL2,391.15 26.30 1.11
IndusInd Bank1,033.55 9.35 0.91
CompanyPriceChange%Gain
Asian Paints3,042.20 92.30
Axis Bank750.90 14.65
ICICI Bank645.30 10.15
HDFC Life692.55 10.85
HUL2,391.95 27.35
CompanyPriceChange%Gain
Asian Paints3,041.85 93.75
Axis Bank750.75 14.50
ICICI Bank645.05 9.95
HUL2,391.15 26.30
IndusInd Bank1,033.55 9.35

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Pound-Rupee103.33400.08400.08
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