India’s main housing financier HDFC on Friday reported a 42.43 per cent year-on-year development in standalone internet revenue at Rs 3,179.83 for January-March quarter of FY21 (Q4FY21). This compares with revenue of Rs 2,232.5 crore reported within the earlier yr interval (Q4FY20).
On a quarterly foundation, the revenue rose 8.6 per cent from Rs 2,925.8 crore reported in Q3FY21.
HDFC’s Board additionally authorised re-appointment of Keki M. Mistry because the managing director (MD) of the Company for a interval of three years with impact from Might 7, 2021. Moreover, it has advisable a closing dividend of Rs 23 per fairness share for FY21, in comparison with Rs 21 per fairness share within the earlier yr.
Its revenue earlier than tax (PBT), in the meantime, elevated a whopping 45.73 per cent YoY to Rs 3,923.94 crore from Rs 2,692.44 crore.
For the total fiscal of 2020-21, its reported PBT stood at Rs 14,815 crore, whereas the reported revenue after tax was Rs 12,027 crore.
“The revenue numbers for the yr ended March 31, 2021 are usually not comparable with that of the earlier yr. Within the earlier yr, the Company had recorded a good worth acquire consequent to the merger of GRUH Finance Restricted with Bandhan Financial institution, amounting to Rs 9,020 crore,” the company mentioned in its assertion.
It added: To facilitate a like-for-like comparability of the financials, after adjusting for revenue on sale of investments, dividend, honest worth changes, earnings on assigned loans, cost for worker inventory choices and provisions, the adjusted revenue earlier than tax for FY21 stood at Rs 13,823 crore in comparison with Rs 11,586 crore, up 19 per cent YoY.
The Mumbai-based mortgage lender’s income, nevertheless, contracted 2 per cent on yr from Rs 11,975.72 crore in Q4FY20 to Rs 11,697.1 crore throughout the interval beneath research.
The numbers had been largely in-line Road estimates. World brokerage HSBC, for example, had pegged HDFC’s PAT at Rs 3,212.1 crore whereas these at Sharekhan estimated it at Rs 2,770 crore. READ HERE
The online curiosity earnings (NII) grew a wholesome 14 per cent on yr to Rs 4,065 crore in contrast with Rs 3,564 crore within the earlier yr. Internet Curiosity Margin for the yr ended March 31, 2021 stood at 3.5 per cent.
HDFC’s belongings beneath administration (AUM) stood at Rs 5.70 trillion on the finish of Q4FY21 relative to Rs 5.16 trillion as of March 31, 2020 owing to low rates of interest, softer property costs, concessional stamp obligation charges in sure states and continued fiscal incentives on house loans.
“As at March 31, 2021, particular person loans comprised 77 per cent of the AUM. As at March 31, 2021, the person mortgage guide on an AUM foundation grew 12 per cent and the non-individual mortgage guide grew by 4 per cent. The expansion within the whole AUM was 10 per cent,” HDFC mentioned in its assertion.
Throughout This fall, particular person mortgage disbursements grew by 60 per cent over the corresponding quarter of the earlier yr, it added.
Of the overall loans disbursed throughout FY21, 33 per cent of house loans (quantity phrases) and 16 per cent (worth phrases) had been to clients from the Economically Weaker Part (EWS) and Low Revenue Teams (LIG).
“As at March 31, 2021, cumulative loans disbursed by HDFC beneath Credit score Linked Subsidy Scheme (CLSS) stood at Rs 39,333 crore and the cumulative subsidy quantity stood at Rs 5,211 crore,” HDFC mentioned.
Asset high quality
On the finish of thequarter beneath evaluation, HDFC’s gross non-performing loans (GNPAs) stood at Rs 9,759 crore which is 1.98 per cent of the mortgage portfolio. Of those, NPA for particular person portfolio stood at 0.99 per cent whereas that of the non-individual portfolio stood at 4.77 per cent.
Analysts had been anticipating GNPA ratio at 2.08 per cent in contrast with 1.99 per cent in Q4FY20 and 1.91 per cent in Q3FY21.
The provisions as at March 31, 2021 stood at Rs 13,025 crore.
Following the outcomes, shares of the HFC hit a excessive of Rs 2,491.05 apiece, up 2.4 per cent on the BSE as in opposition to a 0.5 per cent rise within the benchmark S&P BSE Sensex