Housing Development Finance Corporation (HDFC) on Monday reported a 16% year-on-year rise in its standalone web revenue for the March quarter to Rs 3,700 crore on the again of a powerful progress in loans and web curiosity earnings (NII).
The NII for Q4FY22 stood at Rs 4,601 crore, 14% greater in contrast with the identical quarter within the earlier yr. The web curiosity margin (NIM) for the quarter fell 10 foundation factors (bps) sequentially to three.5%.
Keki Mistry, vice chairman & CEO, stated the corporate noticed the highest-ever particular person disbursements of Rs 20,944 crore in March 2022. “Growth in home loans was seen in the affordable housing segment as well as in the middle- and high-income groups,” Mistry stated.
As on March 31, the property beneath administration (AUMs) stood at Rs 6.54 trillion, up 14.7% from Rs 5.7 trillion on the finish of the identical quarter within the earlier yr. Individual loans comprised 79% of the AUM. On an AUM foundation, the expansion within the particular person mortgage ebook was 17%.
The firm carried provisions value Rs 13,506 crore as on March 31. Mistry stated the corporate has already migrated to the brand new regime of asset high quality recognition prescribed by the Reserve Bank of India (RBI). The gross non-performing asset (NPA) ratio fell 41 bps sequentially to 1.91%. The assortment effectivity for particular person loans on a cumulative foundation stood at over 99% in March.
As on March 31, 2022, loans restructured beneath the central financial institution’s two decision frameworks had been equal to 0.8% of the mortgage ebook. Of the loans restructured, 98% are particular person loans and a pair of% are non-individual loans. The largest account of Rs 2,764 crore restructured beneath the stated framework was absolutely repaid as on March 31, Mistry stated.
The capital adequacy ratio (CAR) of the lender stood at 22.8%, of which tier-I capital was 22.2% and tier-II capital was 0.6%. According to regulatory norms, the minimal necessities for the CAR and tier-I capital are 15% and 10%, respectively.
Shares of HDFC ended at Rs 2,262.70 on the BSE on Monday, 1.55% greater than their earlier shut.
Source: www.financialexpress.com”