Housing Development Finance Corporation (HDFC) Ltd reported a 61 per cent rise in its profit before tax (PBT) at Rs 1,091.62 crore for Q4 of the last fiscal year as against Rs 676.12 crore PBT for the corresponding period in fiscal 2006-07.The PBT is inclusive of profit on sale of a part of the corporation’s investment in its subsidiary, HDFC ERGO General Insurance Company Ltd — amounting to Rs 202.07 crore. After providing Rs 323.50 crore for taxes, the PAT for the quarter ended March 31, 2008, increased by 40 per cent to Rs 768.12 crore as against Rs 550.05 crore in the corresponding quarter last year. The board of directors have recommended dividend for the year ended March 31, 2008, of Rs 25 per share as against Rs 22 per share in the previous year. HDFC reported a PBT of Rs 3,373.50 crore in fiscal 2007-08 as compared with Rs 1,967.78 crore for fiscal 2006-07, an increase of 71 per cent. After providing Rs 937.25 crore for taxes, the PAT for the last fiscal increased by 55 per cent to Rs 2,436.25 crore as compared with Rs 1,570.38 crore in 2006-07.HDFC senior general manager (treasury) Konrad D’Souza said, “In the last fiscal, we recorded profit worth Rs 293 crore through derivatives trading.” He said HDFC is expecting a 25 per cent growth in loan disbursements in the current fiscal. “The real estate slowdown witnessed in certain pockets in the country has not affected our business.”The loan portfolio stood at Rs 74,104 crore as against Rs 57,988 crore in the previous year, showing an increase of 28 per cent and income operations for the year stood at Rs 8,036.42 crore against Rs 5,458.98 crore a year ago. Loan disbursements during the year were Rs 32,875 crore as against Rs 26,178 crore in the previous year, representing a growth of 26 per cent.Meanwhile, gross non-performing loans as on March 31, 2008, amounted to Rs 621.01 crore, which is equivalent to 0.84per cent of the portfolio as against 0.92 per cent in the previous year. HDFC’s capital adequacy ratio stood at 16.8 per cent at the yearend.
