HDFC saw strong improvement in individual loan business during Q4FY21

Housing Development Finance Corporation Ltd ("HDFC" / "Corporation") has announced that the individual loan business continued to see strong improvements during the quarter ended Match 31, 2021.

Loans assigned: During the quarter ended March 31, 2021, pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank, the Corporation assigned loans to HDFC Bank amounting to Rs. 7,503 crore compared to Rs. 5,479 crore in the corresponding quarter of the previous year.

Individual loans sold in the preceding 12 months amounted to Rs. 18,980 crore (Previous Year: Rs. 24,127 ctore).

Under Indian Accounting Standards (IndAS), the employee stock options are required to be fair valued and charged to the Statement of Profit and Loss as a part of employee benefit expenses primarily over the two year vesting period. This would result in a charge to the Statement of Profit and Loss of approximately Rs. 144 crore during the quarter ended March 31, 2021.

Gross Income from dividend for the quarter ended March 31, 2021 was Rs. 110 crore (PY: Rs. 2 crore).

During the quarter ended March 31, 2021, there was no sale of investments in subsidiary / associate companies (PY: nil).

The above figures are subject to audit by the statutory auditors of the Corporation.

Shares of HOUSING DEVELOPMENT FINANCE CORP.LTD. was last trading in BSE at Rs.2530.95 as compared to the previous close of Rs. 2498.95. The total number of shares traded during the day was 151856 in over 9795 trades.

The stock hit an intraday high of Rs. 2538 and intraday low of 2480.45. The net turnover during the day was Rs. 381409863.

Source : Equity Bulls

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