Housing Development Finance Corporation (HDFC), one of the leading housing finance companies in India, released its quarterly earnings report on May 2, 2022.
Here are the important details of the results:
The profit after tax of the company stood at Rs 3,700 crore compared to Rs 3,180 crore in the corresponding quarter of the previous year – representing a growth of 16%.
The net interest income (NII) for the quarter ended March 31, 2022, stood at Rs 4,601 crore compared to Rs 4,027crore in the previous year, representing a growth of 14%.
During the quarter, HDFC assigned individual loans amounting to Rs 8,367 crore as compared to Rs 7,503 crore assigned in the same quarter of last year.
The profit after tax for the year ended March 31, 2022, stood at Rs 13,742 crore compared to Rs 12,027 crore in the previous year.
The net interest income (NII) for the year ended March 31, 2022, stood at ₹ 17,119 crore compared to Rs 14,970 crores in the previous year, representing a growth of 14%.
During the year ended March 31, 2022, individual approvals and disbursements grew by 38% and 37% respectively compared to the previous year.
During the year, 29% of home loans approved in volume terms and 13% in value terms have been to customers from the Economically Weaker Section (EWS) and Low Income Group (LIG).
The average home loan to the EWS and LIG segment stood at Rs 11.2 lakh and Rs 19.7 lakh respectively.
The board of directors of HDFC has recommended a dividend for the year ended March 31, 2022, of Rs 30 per equity share.
To read the RA disclaimer, please click here.
Research Analyst: Bavadharini KS