Housing finance major HDFC on Monday reported a 16 per cent jump in its profit after tax (PAT) to Rs 3,700 crore for the March 2022 quarter, compared with Rs 3,180 crore in the year-ago quarter. Its net interest income (NII) also increased 14 per cent to Rs 4,601 crore, against Rs 4,027 crore a year ago.
Its assets under management (AUM) stood at Rs 6,53,902 crore at the end of the March 2022 quarter, against Rs 5,69,894 crore in the previous year. As of March 31, 2022, individual loans comprise 79 per cent of the AUM. On an AUM basis, the growth in the individual loan book was 17 per cent and growth in the total AUM was 15 per cent, HDFC said in a statement.
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The Corporation assigned individual loans amounting to Rs 8,367 crore during January-March 2022, compared with Rs 7,503 crore in the year-ago period. Individual loans sold in the preceding 12 months amounted to Rs 28,455 crore, against Rs 18,980 crore a year ago. HDFC also assigned standard, non-individual loans amounting to Rs 1,500 crore during the year.
The board of directors also recommended a dividend for the year ended March 31, 2022 of Rs 30 per equity share of a face value of Rs 2 each compared to Rs 23 per equity in the previous year. The dividend pay-out ratio is 40 per cent, the statement said.
“The demand for home loans and pipeline of loan applications continues to remain strong. Growth in home loans was seen in both, the affordable housing segment as well as in high-end properties. The increasing sales momentum and new project launches augur well for the housing sector. About 91 per cent of new loan applications were received through digital channels,” it said.
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In the March 2022 quarter, the non-individual loan book recorded growth, with a good pipeline of loans from lease rental discounting and construction finance.
For the full financial year, HDFC’s profit after tax for 2021-22 stood at Rs 13,742 crore as compared with Rs 12,027 crore in the previous year.
In the December 2021 quarter, the company reported an 11 per cent rise in standalone net profit at Rs 3,261 crore. Its net interest income had risen 5 per cent to Rs 4,284 crore as against Rs 4,068 crore in Q3FY21.
