HDFC Q3 Review - Highest-Ever Disbursements In December; Restructured At 0.9%: IDBI Capital
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IDBI Capital Report
Housing Development Finance Corporation Ltd.’s asset quality remain stable with gross stage three assets stood at 2.28% versus 2.19% QoQ; better than estimated.
Also, restructured assets stood at 0.9% of asset under management which majorly comprises of one large real estate builder group (0.5% of AUM).
Profit after tax declined by 65%YoY; however adjusted for dividend, fair value gain (merger of Gruh Finance Ltd. with Bandhan Bank Ltd.), net gains on assigned loans, provisioning and employee stock option, profit before tax grew by 27% YoY.
Collection efficiency for individual loans for December month stood at 97.6% versus 96.3% for September month.
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