HDFC Q4 Review - Ahead Of The Curve; Poised For Re-Rating: Prabhudas Lilladher
The Housing Development Finance Corp. (HDFC) logo is displayed inside the bank’s branch in Mumbai, India. (Photographer Vivek Prakash/Bloomberg)

HDFC Q4 Review - Ahead Of The Curve; Poised For Re-Rating: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

Housing Development Finance Corp. continues to maintain healthy steady-state performance led by:

  1. Gross non-performing asset restricted less than 2% at 1.98% (versus our estimate: 2.1%).

  2. Negligible restructured book at 0.8%.

  3. Quarter-on-quarter marginal decline in stage-II at 6.3%.

  4. Provision coverage ratio maintained at high order of 50% plus.

  5. Prepayments hovering at ~10% levels since two years.

  6. Write-offs limited to 0.3% of loans.

  7. Collections healthy at 98% for individual loans.

  8. Sustenance of pricing power with net interest margins at 3.5%, spreads: 2.3%.

Click on the attachment to read the full report:

Prabbudas Lilladher HDFC Q4FY21 Result Review.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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