MUMBAI (Reuters) - Housing Development Finance Corp (HDFC) , India's biggest mortgage lender, said its net interest margin for the year ending March 31 stood at 4.21 percent, a marginal fall compared with 4.4 percent a year ago.
The company's net interest margin for the Jan-March quarter also stood at 4.21 percent, Keki Mistry, chief executive officer at HDFC, said in a televised press conference on Wednesday.
Gross non-performing assets for the Jan-March quarter stood at 70 basis points and HDFC expects loan spreads to be between 2.2 to 2.25 percent going forward, said Mistry.
Earlier in the day, HDFC reported a 17.3 percent rise in net profit for the Jan-March quarter to 15.55 billion Indian rupees, helped by higher disbursals.
(Reporting by Aditi Shah; Editing by Sunil Nair)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app