HDFC Posts Strong Q3 Operating  Performance; Improving Growth Outlook: Motilal Oswal
Information leaflets are displayed at an HDFC branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

HDFC Posts Strong Q3 Operating Performance; Improving Growth Outlook: Motilal Oswal

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.

Motilal Oswal Report

Housing Development Finance Corporation Ltd.’s core profit before tax grew 21% YoY to Rs 33.5 billion (5% beat), driven by a similar beat on net interest income and higher assignment income recognized during the quarter (almost two times of estimate).

Provisions at Rs 5.9 billion were much higher than our estimate of Rs 4 billion. Individual disbursements grew 26% YoY for Q3, and individual asset under management grew 4% QoQ /10% YoY.

Led by overall buoyancy in the real estate sector, the growth outlook for the Individual segment remains healthy.

Click on the attachment to read the full report:

Motilal Oswal HDFC Q3FY21 Result Update.pdf

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