HDFC Q3 Review - Revival In Individual Book; Provision Cover Buoyant: ICICI Direct 
The Housing Development Finance Corp. (HDFC) logo is displayed inside the bank’s branch in Mumbai, India. (Photographer Vivek Prakash/Bloomberg)

HDFC Q3 Review - Revival In Individual Book; Provision Cover Buoyant: ICICI Direct 

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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 Direct Report

Housing Development Finance Corporation Ltd. posted better-than-expected profitability on account of better than estimated topline growth.

Pick-up in individual business and broadly stable asset quality were also a hallmark for the quarter.

Overall asset quality performance was healthy as proforma gross non-performing asset was marginally up approximately 8 basis points QoQ to 1.91%.

Proforma GNPA in individual and non individual book was at 0.98% and 4.35% versus 0.88% and 4.19% QoQ, respectively.

Collection efficiency in individual loans for December 2020 improved to 97.6% versus 96.3% QoQ while overall collection efficiency remained at ~92%.

Click on the attachment to read the full report:

ICICI Direct HDFC Ltd. Q3FY21 Result Update.pdf

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