HDFC net profit rises 12 per cent, meets estimates

Mortgage lender Housing Development Finance Corp (HDFC) posted a 12 per cent gain in quarterly net profit, in line with estimates, aided by higher loan growth.

Net profit rose to 12.8 billion rupees in the December quarter compared with 11.4 billion rupees a year earlier, HDFC said on Wednesday.

Income from operations increased 16.3 percent in the fiscal third quarter, while profit from sale of investments fell to 346.2 million rupees from 963.2 million a year earlier.

Total expenditure rose about 15 percent, largely driven by interest charges, it said.

HDFC faces an intensifying battle for business and market share as banks aggressively push home loans.

The lender has said it is betting on increased loan demand in smaller cities to boost growth in a slowing economy.

Net interest margin for the nine months ended December was at 4 percent, HDFC said. A year-ago comparison was not immediately available.


  • All the debates are glossing over the key question if children are eating healthy food

    For some time now, we have been strapped in noodle debates. First Maggie noodles and now our own swadeshi noodles that Baba Ramdev is making.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Amita Sharma

Smart cities for the smart citizens

The 21st century has been spoken of as the urban ...

Zehra Naqvi

Baby and you

Every person who’s had a chance to be a parent ...

Bubbles Sabharwal

Women of the world, unite for a change

Last week I attended the Women in the World forum ...


William D. Green

Chairman & CEO, Accenture