India’s leading housing financier HDFC on Friday reported a 42.43 per cent year-on-year growth in standalone net profit at Rs 3,179.83 for January-March quarter of FY21 (Q4FY21). This compares with profit of Rs 2,232.5 crore reported in the previous year period (Q4FY20).
On a quarterly basis, the profit rose 8.6 per cent from Rs 2,925.8 crore reported in Q3FY21.
HDFC’s Board also approved re-appointment of Keki M. Mistry as the managing director (MD) of the Corporation for a period of three years with effect from May 7, 2021.
Its profit before tax (PBT), meanwhile, increased a whopping 45.73 per cent YoY to Rs 3,923.94 crore from Rs 2,692.44 crore.
The Mumbai-based mortgage lender’s revenue, however, contracted 2 per cent on year from Rs 11,975.72 crore in Q4FY20 to Rs 11,697.1 crore during the period under study.
The numbers were largely in-line Street estimates. Global brokerage HSBC, for instance, had pegged HDFC’s PAT at Rs 3,212.1 crore while those at Sharekhan estimated it at Rs 2,770 crore.
HDFC’s assets under management (AUM) stood at Rs 5.70 trillion at the end of Q4FY21 relative to Rs 5.16 trillion as of March 31, 2020.
“As at March 31, 2021, individual loans comprised 77 per cent of the AUM. As at March 31, 2021, the individual loan book on an AUM basis grew 12 per cent and the non-individual loan book grew by 4 per cent. The growth in the total AUM was 10 per cent,” HDFC said in its statement.
HDFC has recommended a final dividend of Rs 23 per equity share, compared to Rs 21 per equity share in the previous year.
Following the results, shares of the HFC hit a high of Rs 2,491.05 apiece, up 2.4 per cent on the BSE as against a 0.5 per cent rise in the benchmark S&P BSE Sensex