HDFC Q2FY22 Results: Profit surges nearly 32% amid strong growth in loan book

The financial service company registered double-digit growth in profit and net interest income, amid a strong loan book.

The growth in the total loan book after adding back loans sold was 15 per cent: PTI

Index heavyweight Housing Development Finance Corporation reported robust year-on-year (YoY) quarterly earnings in the July-September quarter of the financial year 2021-22. The financial service company registered double-digit growth in profit and net interest income, amid a strong loan book.

HDFC’s net profit jumps almost 32 per cent to Rs 3780.5 crore in Q2FY22 as compared to Rs 2870.1 crore in the same quarter a year-ago period. While its NII gained by almost 13 per cent to Rs 4108.5 crore as against Rs 3646.5 crore in Q2FY22.

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The company in Q2 results highlight said, “The growth in the individual loan book, after adding back loans sold in the preceding 12 months was 23 per cent. The growth in the total loan book after adding back loans sold was 15 per cent.”

Similarly, individual loans comprise 78 per cent of the Assets Under Management (AUM). And, the AUM stood at Rs 5,97,339 crore as against Rs 5,40,270 crore in the previous year, HDFC said.

The financial service company said in the results statement, “Spreads stood at 2.29 per cent; Net Interest Margin (NIM) at 3.6 per cent; Capital Adequacy at 22.4 per cent during the quarter.”

“There has been a 25 per cent increase in the consolidated profit after tax attributable to the corporation for the half-year ended September 30, 2021, at Rs 10,299 crore,” it also added.

According to HDFC Q2 results, “The demand for home loans continues to remain strong. Growth in home loans was seen in both, the affordable housing segment as well as in high-end properties. The increasing sales momentum and new project launches augurs well for the housing sector.”

Individual disbursements in the month of October 2021 were the highest ever in a non-quarter end month. Around 89 per cent of new loan applications were received through digital channels, it said.

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