HDFC Q4 net up 16% to ₹3,700 crore


The Housing Development Finance Corporation Ltd. (HDFC) on Monday reported that standalone net income for the fourth quarter rose 16% to ₹3,700 crore from ₹3,180 crore in the same period last year as demand for home loans improved.

For the 12 months ended March 31, 2022, the mortgage lender reported net income of ₹13,742 billion, up 14.3% from 12,027 crore.

Individual approvals and payouts are up 38% and 37%, respectively, over the last fiscal year, HDFC said.

“Growth in home loans has been seen in both the affordable housing and high-end real estate segments,” the lender said in a statement. “Increasing sales momentum and the launch of new projects bode well for the housing sector,” he added.

During the year, 29% by volume and 13% by value of home loan approvals went to clients from the economically weaker section (EWS) and low-income group (LIG). The average home loan to the EWS and LIG segments was 11.2 lakh and 19.7 lakh respectively, it said.

The board recommended a dividend of ₹30 per share with a par value of ₹2 for the fiscal year ended March 31, compared to ₹23 a year earlier. The dividend payout ratio is 40%, HDFC said in a filing.

“Demand for home loans and the pipeline of loan applications remain strong,” it said.

Assets under management (AUM) as of March 31, 2022 were ₹6.53,902 billion compared to ₹5,69,894 billion a year earlier.

As of March 31, 2022, the outstanding amount in respect of individual loans sold was ₹83,880 crore. HDFC continues to service these loans and gross NPLs were ₹10,741 crore. This corresponded to 1.91% of the portfolio.

HDFC said it had total reserves of ₹13,506 crore as of March 31 and its capital adequacy ratio was 22.8%, of which Tier I capital was 22.2% and Tier II capital was 0.6%. According to regulatory norms, the minimum requirement for capital adequacy ratio and Tier 1 capital is 15% and 10% respectively.

For the full year, consolidated profit after tax attributable to HDFC increased by 21% to ₹22,595 crore.

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