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Tuesday, May 17, 2022

HDFC Q4 net rises 16%, record monthly disbursements in March

Its board has recommended a dividend of Rs 30 per share for the year ended March 2022 as against Rs 23 per equity in FY21. During 2021-22, individual approvals and disbursements grew by 38 per cent and 37 per cent, respectively, compared to the previous year.

By: ENS Economic Bureau | Mumbai |
Updated: May 3, 2022 5:18:49 am
Meanwhile, as per a PTI report, state-run Bank of Maharashtra (BoM) said it has raised the MCLR across tenures by 0.15 per cent. (File)

Mortgage lender HDFC Ltd on Monday posted a 16 per cent rise in net profit at Rs 3,700 crore for the quarter ended March 2022 as compared to Rs 3,180 crore in the corresponding quarter a year ago.

Its board has recommended a dividend of Rs 30 per share for the year ended March 2022 as against Rs 23 per equity in FY21. During 2021-22, individual approvals and disbursements grew by 38 per cent and 37 per cent, respectively, compared to the previous year.

In March, the corporation recorded its highest monthly individual disbursements ever. This is despite the fact that the previous year entailed concessional stamp duty benefits in certain states which were not there in the current year, HDFC said.

As of March 2022, the assets under management (AUM) stood at Rs 6,53,902 crore as against Rs 5,69,894 crore in the previous year. Individual loans comprise 79 per cent of the AUM. On an AUM basis, the growth in the individual loan book was 17 per cent and that in the total AUM was 15 per cent.

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During Q4FY22, HDFC assigned individual loans amounting to Rs 8,367 crore (Rs 7,503 crore a year ago). Individual loans sold in the preceding 12 months amounted to Rs 28,455 crore (Rs 18,980 crore last year).

As of March, gross individual non-performing loans (NPLs) stood at 0.99 per cent of the individual portfolio, while the gross non-performing non-individual loans stood at 4.76 per cent of the non-individual portfolio. Gross NPLs as at March 31, 2022 stood at Rs 10,741 crore. This is equivalent to 1.91 per cent of the portfolio.

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