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IDBI Capital Report
Housing Development Finance Corporation Ltd.'s asset quality improved as gross stage-III assets stood at 2.1% versus 2.3% QoQ led by non-individual portfolio.
Restructured assets remain stable at 0.8% of assets under management. Disbursements for individual loan segment grew by 66% YoY in Q1 FY23; Q1 disbursements highest ever in a year.
HDFC's AUM growth improved to 17% YoY (15% YoY FY22) led by individual portfolio. Profit after tax grew by 22% YoY led by lower provisions (down 25% YoY).
Net interest income grew slowly at 8% YoY due to decline in net interest margins at 3.4% (down 30 basis points YoY) while pre-provision operating profit grew by 11% YoY. Provisions stood at Rs 133.3 billion higher than regulatory requirement.
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