HDFC Annual Report Analysis - Consolidating Leadership Position: ICICI Securities
Signage for HDFC Bank Ltd. is displayed in Mumbai, India. (Photographer Adeel Halim/Bloomberg)

HDFC Annual Report Analysis - Consolidating Leadership Position: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Housing Development Finance Corporation Ltd.’s FY21 annual report is themed around ‘finding calm in the chaos’, reflected in its improving market positioning, with capital buffer and efficiency, funding cost benefit and contained stress (stage-II/III pool at 8.7%) even during challenging times.

Few specific insights gauged from annual report include:

1. customer profile for incremental disbursements 78% salaried, 55% first-purchase homes, 8% rural housing;

2. pre-payments on lease rental discounting of 7% and retail loans of 10%;

3. slippage run-rate at mere 1.2% thereby, capping stage-III assets at 2.3%;

4. on stress pool (stage-II/III) of 24%/3% in non-individual/individual segments, the bank is carrying provisions of 8.16%/0.65%; and

5. regulatory clarity sought to minimise potential conflicts on few regulations.

Click on the attachment to read the full report:

ICICI Securities HDFC Annual Report Analysis FY21.pdf

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