Loan development pushes HDFC Q3 web up 11%

Mortgage agency HDFC on Wednesday reported an 11 per cent development in its standalone web revenue for the quarter ended December 2021 at Rs 3,260.6 crore, as in opposition to Rs 2,925.8 crore in the identical quarter final yr.
The firm’s whole income from operations elevated to Rs 11,783.6 crore as of December 2021, in contrast with Rs 11,707 crore a yr in the past. The web curiosity revenue stood at Rs 4,284 crore in Q3FY22, in opposition to Rs 4,005 crore within the year-ago quarter. Net curiosity margin was at 3.6 per cent.
The demand for residence loans and pipeline of mortgage purposes continues to stay sturdy, HDFC vice chairman and chief govt Keki Mistry stated.
“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,” he added.
As on December 31, 2021, the gross particular person non-performing property (NPAs) stood at 1.44 per cent of the person portfolio, whereas the gross non-performing non-individual loans stood at 5.04 per cent of the non-individual portfolio.
Gross NPAs as of December 2021 stood at Rs 12,419 crore. This is equal to 2.32 per cent of the portfolio, HDFC stated.

Of the overall reported gross NPAs, Rs 2,746 crore includes loans that are lower than 90 days late as of December 2021. NPAs web of loans which can be lower than 90 days late as on end-December was at 1.14 per cent for people, 3.87 per cent for non-individuals and 1.81 per cent for whole portfolio.
Assets beneath administration (AUM) stood at Rs 6,18,917 crore in Q3 as in opposition to Rs 5,52,167 crore within the earlier yr. Individual loans comprise 79 per cent of the AUM, HDFC stated.