HDFC Reported a Rise of 11% in Q3 FY22

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HDFC Reported a Rise of 11% in Q3 FY22
04 Feb 2022
6 min read

News Synopsis

HDFC has reported a rise in its profit in the third quarter of the financial year. The profit rose to Rs 3,261 crore from Rs 2,926 crore during the same period in the previous year. 

The net interest income (NII) of the corporation for the third quarter also rose to Rs 4,284 crore as compared to Rs 4,005 crore in the previous year. The profit after tax attributable to the corporation increased to Rs 5,837 crore by the end of the third quarter. 

Loans restructured under the Resolution Framework of the RBI for ‘Covid-19 Related Stress’ was equivalent to 1.34% of the loan book. The corporation has said that it has recorded its second-highest disbursements ever, despite the fact that the previous year entailed concessional stamp duty benefits in certain states, which was unavailable in the current year.

The demand for home loans and the pipeline of loan applications continues to be strong. The affordable housing segment along with the high-end properties have seen growth and the increasing sales momentum and new project launches are also predicted were for the housing sector.

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