Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

HDFC Q1FY22 consolidated PAT slips QoQ to Rs. 5041.17 crores

Posted On: 2021-08-02 07:14:34 (Time Zone: UTC)


Housing Development Finance Corp. Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.30997.13 crores during the period ended June 30, 2021 as compared to Rs.35753.86 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.5041.17 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.5350.02 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.27.64 for the period ended June 30, 2021 as compared to Rs.29.44 for the period ended March 31, 2021.

FinancialsQ1 FY2021-22Q4 FY20-21% Change
Total Income₹ 30997.13 crs₹ 35753.86 crsDown Tick -13.3%
Net Profit₹ 5041.17 crs₹ 5350.02 crsDown Tick -5.77%
EPS₹ 27.64₹ 29.44Down Tick -6.11%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.30997.13 crores during the period ended June 30, 2021 as compared to Rs.29959.34 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.5041.17 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.3613.60 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.27.64 for the period ended June 30, 2021 as compared to Rs.20.78 for the period ended June 30, 2020.

FinancialsQ1 FY2021-22Q1 FY2020-21% Change
Total Income₹ 30997.13 crs₹ 29959.34 crsUp Tick 3.46%
Net Profit₹ 5041.17 crs₹ 3613.60 crsUp Tick 39.51%
EPS₹ 27.64₹ 20.78Up Tick 33.01%

The average size of individual loans stood at ₹ 30.9 lac (compared to ₹ 29.5 lac in FY21).

As at June 30, 2021, the assets under management stood at ₹ 5,74,136 crore as against ₹ 5,31,186 crore in the previous year.

As at June 30, 2021, individual loans comprise 78% of the Assets Under Management (AUM).

On an AUM basis, the growth in the individual loan book was 14% and growth in the total loan book was 8%.

During the quarter ended June 30, 2021, the Corporation assigned loans amounting to ₹ 5,489 crore (PY: ₹ 1,376 crore) to HDFC Bank. Loans sold in the preceding 12 months amounted to ₹ 23,093 crore (PY: ₹ 18,273 crore).

As at June 30, 2021, the outstanding amount in respect of individual loans sold was ₹ 73,471 crore. HDFC continues to service these loans.

The growth in the individual loan book, after adding back loans sold in the preceding 12 months was 22%. The growth in the total loan book after adding back loans sold was 12%.

Collection Efficiency, Non-Performing Assets (NPAs) & Provisioning

The overall collection efficiency ratio for individual loans has improved during the month of June 21 to pre-COVID levels. The collection efficiency for individual loans on a cumulative basis in June 2021 stood at 98.3% compared to 98.0% in March 2021.

Individual NPAs increased due to slippages on account of the impact of the second wave of the pandemic. Collection efforts were hindered due to the recovery teams being unable to do field visits during the lockdown period.

Further, various court orders temporarily curbing recovery efforts of financial institutions, including refraining possession activities under SARFAESI hampered the collection efforts.

As per regulatory norms, the gross non-performing loans as at June 30, 2021 stood at ₹ 11,120 crore. This is equivalent to 2.24% of the loan portfolio.

As per regulatory norms, the Corporation is required to carry a total provision of ₹ 5,778 crore. Of this, ₹ 2,443 crore is towards provisioning for standard assets and ₹ 3,335 crore is towards non-performing assets.

The provisions as at June 30, 2021 stood at ₹ 13,189 crore. The provisions carried as a percentage of the Exposure at Default (EAD) is equivalent to 2.64%.

The Corporation's Expected Credit Loss charged to the Statement of Profit and Loss for the quarter ended June 30, 2021 was at ₹ 686 crore (PY: ₹ 1,199 crore).

Net Interest Income

The net interest income (NII) for the quarter ended June 30, 2021 stood at ₹ 4,147 crore compared to ₹ 3,392 crore in the previous year, representing a growth of 22%.

Inclusive of income from assigned loans, the NII for the quarter ended June 30, 2021 stood at ₹ 4,414 crore compared to ₹ 3,576 crore in the previous year, representing a growth of 23%.

Spreads and Net Interest Margin

The spread on loans over the cost of borrowings for the quarter ended June 30, 2021 was 2.29%. The spread on the individual loan book was 1.93% and on the non-individual book was 3.32%.

The reported Net Interest Margin (NIM) was 3.7%.

INVESTMENTS

All investments in the Corporation's subsidiary and associate companies are carried at cost and not at fair value.

Accordingly, as at June 30, 2021, the unaccounted gains on listed investments in subsidiary and associate companies amounted to ₹ 2,61,068 crore.

COST INCOME RATIO

For the quarter ended June 30, 2021, cost to income ratio stood at 8.0% compared to 9.0% in the previous year.

CAPITAL ADEQUACY RATIO

As of date, the Corporation's capital adequacy ratio stood at 22.0%, of which Tier I capital was 21.3% and Tier II capital was 0.7%. As per the regulatory norms, the minimum requirement for the capital adequacy ratio and Tier I capital is 15% and 10% respectively.

DISTRIBUTION NETWORK

HDFC's distribution network spans 603 outlets which include 202 offices of HDFC's distribution company, HDFC Sales Private Limited (HSPL). HDFC covers additional locations through its outreach programmes. Distribution channels form an integral part of the distribution network with home loans being distributed through HSPL, HDFC Bank Limited and third party direct selling associates. The Corporation also has online digital platforms for loans and deposits.

To cater to non-resident Indians, HDFC has offices in London, Dubai and Singapore and service associates in the Middle East.

Shares of Housing Development Finance Corp. Ltd was last trading in BSE at Rs. 2443.9 as compared to the previous close of Rs. 2413.85. The total number of shares traded during the day was 42088 in over 2494 trades.

The stock hit an intraday high of Rs. 2464.2 and intraday low of 2416. The net turnover during the day was Rs. 102911404.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

Jubilant Foodworks Ltd to acquire 25.02% stake in Wellversed Health Pvt Ltd

CuraTeQ submits its first biosimilar filing with European Medicines Agency

Bharti Airtel Ltd fixes Sep 28, 2021 as record date for rights issue

Reliance Infrastructure Limited board to consider FCCB issue terms on Sep 25, 2021

SBI fully redeems notes of $308,250,000.00

Kings Infra to bring 5,000 farmers under ecologically sustainable aquaculture

APSEZ fully unlocks India's eastern hinterland with Rs. 6,200 Cr acquisition of Gangavaram Port

Gujarat Sidhee Cement Limited restarts kiln at cement plant

JTL Infra Ltd fixes Sep 22, 2021 as record date for stock split

Sarda Energy and Minerals Ltd updates on subsidiary's tariff

AIA Engineering Ltd updates on customs duty levied by South African Government

India Ratings Affirms Mahindra & Mahindra & its NCDs at 'IND AAA'; Outlook Stable

Transpek Industry Limited appoints Shri Avtar Singh as Joint MD

Acuite Ratings upgrades ratings of Zim Laboratories Ltd

TCS Positioned as a Leader in Digital Services for Higher Education by Avasant

Jubilant Ingrevia Ltd arm divests stake in Safe Foods Corporation

Leaders in Cloud Adoption Approach Cloud Differently and Achieve 10x Greater ROI, Says Research by Wipro FullStride Cloud Services

Shaily Engineering Plastics Limited to consider allotment of preferential shares

Infosys to Develop Quantum Computing Capabilities on AWS

Ind-Ra affirms rating of PVR Ltd

STL launches Accellus - an end-to-end fiber broadband and 5G wireless solution

CRISIL AA+/Stable assigned to Tier II Bonds (Under Basel III), Tier I Bonds (Under Basel III) rating upgraded to CRISIL AA/Stable

Ashoka Buildcon Limited updates on acquisition of stake in Ashoka Highways Durg Limited

Tata Tele Business Services Unveils 'Customer Experience Platform' for Businesses

KPIT Technologies Limited to acquire Future Mobility Solutions GmbH

Apollo Pipes Ltd commences commercial production from new unit

Trejhara wins order from one of the largest logistics firms for $3.5 mn

Ramkrishna Forgings Ltd bags order worth INR 650 million in Mining & Earthmoving segment

Mindtree expands in Europe and Asia-Pacific with Executive Appointments to accelerate next phase of growth

ZEE Entertainment Enterprises Ltd and Sony Pictures Networks India to merge

Godrej Properties achieves sales of INR 575 crore in a single day at the launch of the second phase of its project Godrej Woods in Noida

Nazara Technologies Ltd arm to acquire 69.18% stake in Publishme

Jonjua Overseas Ltd acquires more shares in Jonjua Air Pvt Ltd

Mphasis Acquires Blink UX - a User Experience Research, Strategy, and Design firm

MTAR Technologies Ltd receives NADCAP certification for 100% EOU unit

RattanIndia Enterprises launches drones business in wholly owned subsidiary NeoSky India Limited

Hero MotoCorp recognized by Guinness World Record

Surya Roshni Ltd receives order of Rs. 41.22 crore

Narbada Gems and Jewellery Ltd approves renewal of working capital facilities

Gyscoal Alloys Ltd updates on rights issue

Archit Organosys Ltd to expand capacity by 6000 MT per annum

Rajnish Wellness Ltd announces Dava Discount Business Model

KEC International wins New Orders of Rs. 1,157 crores

Torrent Power acquires 156 MW Wind Power Plants from CESC Limited

Rajratan Global Wire Limited receives investment promotion assistance of Rs. 2.82 crore

TCS Recognized as a Leader in ACES Automotive Engineering Services by Everest Group

Deep Energy Resources Ltd arm selected as CBM developer for Jharia CBM Block-I

Infosys Collaborates with ServiceNow to Provide Enterprise-Level Service Management for Manufacturing Customers

₹ 200 Crore Base Issue Size of Public Issue of NCDs by Indiabulls Housing Finance Limited Oversubscribed 4.04x Times

Steel Strips Wheels Limited receives approval for resolution plan for AMW Autocomponent Ltd


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020