HDFC gains on steady Q1 results

Housing Development Finance Corporation advanced 2.77% to Rs 825.75 at 12:01 IST on BSE, with the stock reversing post result slide after reporting steady Q1 results during market hours on Friday, 19 July 2013.

Meanwhile, the S&P BSE Sensex was up 90.66 points or 0.45% at 20,240.51.

On BSE, 56,254 shares were traded in the counter as against average daily volume of 2.12 lakh shares in the past one quarter.

The stock hit a high of Rs 828.45 and a low of Rs 800 so far during the day. The stock had hit a record high of Rs 931 on 30 May 2013. The stock had hit a 52-week low of Rs 669.50 on 26 July 2012.

The stock had underperformed the market over the past one month till 19 July 2013, declining 4.65% compared with the Sensex's 4.7% rise. The scrip had also underperformed the market in past one quarter, falling 1.85% as against Sensex's 5.96% gain.

The large-cap company has equity capital of Rs 310.83 crore. Face value per share is Rs 2.

Housing Development Finance Corporation's (HDFC) net profit rose 17.1% to Rs 1173.10 crore on 12.6% growth in total income to Rs 5564.94 crore in Q1 June 2013 over Q1 June 2012. The Q1 result was announced during trading hours on Friday, 19 July 2013, when the stock declined 2.35% to Rs 803.50.

HDFC's loan book (net of loans sold) stood at Rs 1,76,993 crore as at June 30, 2013 as against Rs 1,48,262 crore in at 30 June 2012. Loans sold during the preceding 12 months amounted to Rs 6310 crore. HDFC's total borrowings rose to Rs 1,63,269 crore as at 30 June 2013 from Rs 1,43,812 crore as at 30 June 2012.

HDFC has a wide network of offices catering to over 2,400 towns and cities spread across the country. It also has offices in Dubai, London and Singapore and service associates in the Middle East region, to provide housing loans and property advisory services to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs).

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