Housing Improvement Finance Company Ltd (HDFC) on Thursday reported a 13 per cent rise in its internet revenue for the third quarter ending on December 31. Based on the submitting by the agency with BSE, standalone internet revenue for the October-December quarter (Q3) of the monetary 12 months 2022-23 (FY23) stood at Rs 3,691 crore, 13.2 per cent greater than Rs 3,261 crore revenue reported within the year-ago interval.
The revenue earlier than tax for the quarter that ended December 31, 2022, stood at Rs 4,612 crore in comparison with Rs 4,048 crore within the corresponding quarter of the earlier 12 months.
As per the HDFC submitting, The revenue earlier than tax for the 9 months ended December 31, 2022, stood at Rs 14,616 crore. After offering Rs 2,802 crore for tax, the reported revenue after tax (PAT) stood at Rs 11,814 crore in comparison with Rs 10,042 crore within the earlier 12 months, representing a progress of 18 per cent.
In operations, the housing financier’s internet curiosity revenue elevated to Rs 4,840 crore from Rs 4,284 crore 12 months over 12 months and Rs 4,639 crore quarter over quarter. The Web Curiosity Margin (NIM) for the interval of April by December was 3.5 per cent.
Based on HDFC, its belongings beneath administration (AUM) had been Rs 7.01 trillion on the finish of the December quarter versus Rs 6.19 trillion the 12 months earlier than. Particular person loans made up 82 per cent of the AUM of this.
“On an AUM foundation, the expansion within the particular person mortgage ebook was 18 per cent, and progress within the complete mortgage ebook on an AUM foundation was 13 per cent. Throughout the quarter ended December 31, 2022, the Company assigned loans amounting to Rs 8,892 crore to HDFC Financial institution,” HDFC mentioned in its submitting.
Throughout the 9 months that ended December 31, 2022, particular person approvals and disbursements grew by 21 per cent, and 23 per cent, respectively in comparison with the corresponding interval within the earlier 12 months, the corporate mentioned.
HDFC mentioned, “The inherent demand for dwelling loans continues to stay good. Development in dwelling loans was seen in each, the mid-income section in addition to high-end properties. Throughout the nine-months ended December 31, 2022, 94 per cent of latest mortgage purposes had been acquired by digital channels.”
HDFC’s distribution community spans 724 shops which embody 213 workplaces of HDFC’s distribution firm, HDFC Gross sales Personal Restricted (HSPL).