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IDBI Capital Report
Housing Development Finance Corporation Ltd.'s assets under management growth declined further to 11% YoY (13% YoY Q3 FY23) led by non-individual portfolio.
HDFC's asset quality improved as gross stage-III assets stood at 1.44% versus 1.8% QoQ led by non-individual portfolio. Restructured assets declined to 0.6% versus 0.7% of AUM.
Disbursements for individual loan segment grew by 16% YoY in FY23. Net interest margins improved QoQ due to impact of rate hike; management guided for 3.3–3.5%.
Profit after tax grew by 20% YoY led by higher operating profits (up 16% YoY). Net interest income grew by 16% YoY due to improvement in NIMs to 3.6% (up 10 basis points YoY).
Provisions stood at Rs 121.45 billion higher than regulatory requirement.
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