HDFC shares rose as a lot as 3.14 per cent to hit an intraday excessive of Rs 2,507.
The nation’s largest mortgage lender, HDFC, on Friday, April 7, reported internet revenue of Rs 3,180 crore in quarter ended March 2021, that marked a rise of 42 per cent from Rs 2,233 crore in the identical quarter final 12 months. Its curiosity revenue, nevertheless, declined 5 per cent to Rs 10,446 crore from Rs 10,963 crore within the corresponding interval 12 months in the past. (Track HDFC share value right here)
HDFC’s internet curiosity revenue (NII) for the quarter ended March 31, 2021 stood at Rs 4,065 crore in comparison with Rs 3,564 crore within the earlier 12 months, representing a progress of 14 per cent. NII for the 12 months ended March 31, 2021 stood at Rs 15,172 crore in comparison with Rs 12,904 crore within the earlier 12 months, representing a progress of 18 per cent.
“The demand for home loans continued to remain strong owing to low interest rates, softer property prices, concessional stamp duty rates in certain states and continued fiscal incentives on home loans. During the quarter ended March 31, 2021, individual loan disbursements grew by 60 per cent over the corresponding quarter of the previous year. The month of March 2021 witnessed the highest levels in terms individual receipts, approvals and disbursements. Growth in home loans was seen in both, the affordable housing segment as well as high-end properties,” HDFC mentioned in a press launch.
The common measurement of particular person loans disbursed in the course of the 12 months ended March 31, 2021 stood at Rs 29.5 lakh in comparison with Rs 27 lakh within the earlier 12 months. There was an uptick within the common ticket measurement in the course of the quarter ended March 31, 2021 to Rs 31.4 lakh, attributable to the demand for greater finish properties, particularly within the metro cities. As at March 31, 2021, the loans on an belongings below administration (AUM) foundation stood at Rs 5,69,894 crore as in opposition to Rs 5,16,773 crore within the earlier 12 months, the nation’s largest mortgage lender mentioned.
Overall assortment effectivity ratios for particular person loans have improved, nearing pre-COVID ranges. The assortment effectivity for particular person loans within the month of March 2021 stood at 98.0 per cent in comparison with 96.3 per cent within the month of September 2020.
The gross non-performing loans as at March 31, 2021 stood at Rs 9,759 crore. This is equal to 1.98 per cent of the mortgage portfolio. The non-performing loans of the person portfolio stood at 0.99 per cent whereas that of the non-individual portfolio stood at 4.77 per cent, HDFC added.
The firm’s board really useful dividend of Rs 23 per share.
Following the earnings announcement, HDFC shares rose as a lot as 3.14 per cent to hit an intraday excessive of Rs 2,507.
