HDFC Ltd. Quarterly results - Net Interest Income increases by 21%.

Increase in Net Interest Income (NII)

HDFC Ltd. India's largest housing finance company reported an increase in its Net Interest Income or NII by 21% to Rs.3647 crores as compared to the same period last year. 

Total advances for the home financer rose 10% as compared to the same period a year ago to Rs.5.4lakh crores.  On an assets under management basis, growth in the individual loan book was 9% while growth on non-individual book was 13%.

Net Profits

In the quarter ending September last year, HDFC's net profit included profit from sale of Gruh Finance.  If one were to not take that into account then Net Profit of the company increased by 27%. 

Net profit of the company for the quarter ended September 30, 2020 was Rs.2870 crores.

About HDFC 

Housing Development Finance Corporation Limited or HDFC is an Indian Financial Conglomerate based in Mumbai, India.

It is a major provider of finance for housing in India.

It also has a presence in banking, life and general insurance, asset management, venture capital, realty, education, deposits and education loans.

HDFC's distribution network spans 396 outlets (including 109 offices of HDFC's distribution company HDFC Sales Private Limited) which cater to approx. 2,400 towns and cities spread across India.^[2] To cater to Non Resident Indians (NRIs), HDFC has offices in London, Singapore and Dubai and service associates in Middle East countries.

Major Subsidiaries and Associates 

• HDFC Bank 
• HDFC Standard Life Insurance Company Limited 
• HDFC Asset Management Company Limited 
• HDFC ERGO General Insurance Company 
• Gruh Finance 
• HDFC Property Fund
• HDFC Red 
• HDFC Credila Financial Services 

HDFC Ltd. - past 1 year

HDFC Ltd. - past 5 years 

(Disclaimer : This blog is for information purposes only and not to solicit any business or provide any investment advise)