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ICICI Direct Report
Housing Development Finance Corporation Ltd. posted better-than-expected profitability on account of better than estimated topline growth.
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Pick-up in individual business and broadly stable asset quality were also a hallmark for the quarter.
Overall asset quality performance was healthy as proforma gross non-performing asset was marginally up approximately 8 basis points QoQ to 1.91%.
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Proforma GNPA in individual and non individual book was at 0.98% and 4.35% versus 0.88% and 4.19% QoQ, respectively.
Collection efficiency in individual loans for December 2020 improved to 97.6% versus 96.3% QoQ while overall collection efficiency remained at ~92%.
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