Mumbai: Housing finance development corporation (HDFC) on Wednesday recorded 11 per cent rise in its net profit for December quarter period of the current fiscal, as it stood at ₹ 3,261 crore compared to ₹ 2,926 crore of the corresponding period last year.
Shares of HDFC were trading more than 1% higher at ₹2,610 apiece on the BSE in the afternoon deals.
Its total revenue from operations rose to ₹11,783.6 crore from ₹11,707 crore year-on-year (YoY). The net interest income (NII) for the quarter ended December 31, 2021 stood at ₹4,284 crore compared to ₹4,005 crore in the previous year. Its Net Interest Margin (NIM) came at 3.6%.
As at December 31, 2021, the assets under management (AUM) stood at ₹6,18,917 crore as against ₹5,52,167 crore in the previous year, and individual loans comprise 79% of the AUM. On an AUM basis, the growth in the individual loan book was 16% and growth in the total AUM was 12%, the company said.
“In December 2021, the corporation recorded its second highest monthly individual disbursements ever. This is despite the fact that the previous year entailed concessional stamp duty benefits in certain states which was not there in the current year,” HDFC said in an exchange filing.
The demand for home loans and pipeline of loan applications continues to remain strong. Growth in home loans was seen in both, the affordable housing segment as well as in high end properties. The increasing sales momentum and new project launches augurs well for the housing sector, it added.
