HDFC Q3 Web Revenue Rises 11% To Rs 3,261 Crore

Housing finance firm HDFC recorded 11 per cent rise in its third quarter internet revenue

Mumbai (Maharashtra):

Housing finance improvement company (HDFC) on Wednesday recorded 11 per cent rise in its internet revenue for December quarter interval of the present fiscal, because it stood at Rs 3,261 crore in comparison with Rs 2,926 crore of the corresponding interval final 12 months.

The housing finance main’s internet curiosity earnings rose 5 per cent to Rs 4,284 crore as towards Rs 4,068 crore within the corresponding interval of final 12 months.

“The demand for dwelling loans and pipeline of mortgage purposes continues to stay sturdy. Progress in dwelling loans was seen in each, the inexpensive housing section in addition to in excessive finish properties. The rising gross sales momentum and new mission launches augurs nicely for the housing sector,” HDFC stated in a inventory trade submitting.

As at December 31, 2021, the gross particular person non-performing loans (NPL) 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.

The gross NPLs as at December 31, 2021 stood at Rs 12,419 crore. That is equal to 2.32 per cent of the portfolio. Out of the entire reported gross NPLs, Rs 2,746-crore loans are lower than 90 days overdue as at December 31, 2021.

The corporate’s internet curiosity earnings (NII) for the 9 months ended December 31, 2021 stood at Rs 12,519 crore in comparison with Rs 10,943 crore within the earlier 12 months, representing a development of 14 per cent.