HDFC announces operational update for Q3FY23

Housing Development Finance Corporation Ltd (HDFC) has announced the operational update for quarter ended December 31, 2022 (Q3 FY2022-23).

Loans assigned:

- During the quarter ended December 31, 2022, the Corporation assigned loans amounting to ₹ 8,892 crore compared to ₹ 7,468 crore in the corresponding quarter of the previous year. All the loans assigned during the quarter ended December 31, 2022 were to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank.

- Loans sold in the preceding 12 months amounted to ₹ 35,937 crore (Previous Year: ₹ 27,591 crore).

- Gross income from dividend for the quarter ended December 31, 2022 was ₹ 482 crore (PY: ₹ 195 crore).

In accordance with Indian Accounting Standards, the Corporation measures certain listed and unlisted investments at fair value through profit and loss (FVTPL). Largely owing to volatility in the equity markets, during the quarter ended December 31, 2022, for investments classified as FVTPL, there is a debit to the Statement of Profit and Loss of approximately ₹ 80 crore as against a net gain of ₹ 124 crore in the corresponding quarter of the previous year.

During the quarter ended December 31, 2022, the profit on sale of investments was nil (PY: nil).

All the figures are subject to limited review by the statutory auditors of the Corporation.

Shares of Housing Development Finance Corporation Limited was last trading in BSE at Rs. 2666.45 as compared to the previous close of Rs. 2652.60. The total number of shares traded during the day was 15650 in over 2194 trades.

The stock hit an intraday high of Rs. 2671.15 and intraday low of 2638.00. The net turnover during the day was Rs. 41516549.00.

Source : Equity Bulls

Keywords

HousingDevelopmentFinanceCorporation INE001A01036 HDFC HousingFinance OperationalUpdate Q3FY23