Home Business HDFC Q3 Results: Net Profit Jumps 11% To Rs 3,261 Crore, Shares Rise

HDFC Q3 Results: Net Profit Jumps 11% To Rs 3,261 Crore, Shares Rise

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New Delhi: Housing Finance Growth Company (HDFC) on Wednesday reported 11.4 per cent year-on-year (YoY) rise in web revenue to Rs 3,261 crore for the quarter ended December 31, 2021 (Q3).

The corporate clocked web revenue of Rs 2,926 crore within the year-ago interval. The Q3 results of HDFC is far larger than the Road estimate.

In response to reviews, HDFC’s web revenue surged 5 per cent to Rs 4,284 crore within the third quarter of FY21.

In a inventory change submitting HDFC stated, “The demand for house loans and pipeline of mortgage functions continues to stay sturdy. Progress in house loans was seen in each, the inexpensive housing phase in addition to in excessive finish properties. The growing gross sales momentum and new undertaking launches augurs effectively for the housing sector.”

HDFC, the nation’s greatest housing finance firm’s, backside line was aided by decrease tax bills at Rs 787 crore as towards Rs 826 crore within the year-ago quarter.

At 2.15 pm, HDFC’s inventory on the BSE was buying and selling 1.82 per cent larger at Rs 2,610.

As of December 31, 2021, HDFC’s belongings below administration (AUM) stood at Rs 6,18,917 crore as towards Rs 5,52,167 crore within the earlier yr, and particular person loans comprise 79 per cent of the AUM.

On an AUM foundation, the expansion within the particular person mortgage e-book was 16 per cent and development within the whole AUM was 12 per cent, the corporate stated.

“In December 2021, the company recorded its second highest month-to-month particular person disbursements ever. That is although the earlier yr entailed concessional stamp responsibility advantages in sure states which was not there within the present yr,” the corporate stated within the change submitting.

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