Housing Development Finance Corporation reported net profit (standalone) of Rs 1,140 crore for the quarter ended December 31, 2012, up 16.17% from Rs 981.25 crore in the corresponding quarter last year.
Revenue for the quarter was up 17.34% at Rs 5,424 crore from Rs 4,467.3 crore in the same quarter last year.
As at December 31, 2012 the total assets of HDFC stood at Rs 183,770 crore as against Rs 154,036 crore as at December 31, 2011 an increase of 19%.
The bank reported 31% growth in the individual loan book (after adding back the loans sold in the preceding 12 months)
For the thirty-second consecutive quarter HDFC saw its non-performing loans at the lower end. HDFC’s gross non-performing loans stood at 0.75% of the loan portfolio as at December 31, 2012 compared to 0.82% as at December 31, 2011.
The individual loans sold during the preceding twelve months amounted to Rs 5,264 crore. The growth in the individual loan book, after adding back loans sold is 31% (25% net of loans sold). The growth in the total loan book after adding back loans sold is 26% (22% net of loans sold).
As at December 31, 2012, the total loans outstanding in respect of loans sold stood at Rs 16,049 crore. HDFC continues to service the loans sold under these transactions and is entitled to the residual interest on the loans sold, said the company. The residual interest on the individual loans sold is 1.37% p.a. and is accounted over the life of the loans.
Net Interest Margin for the nine-month period ended December 31, 2011 was 4.1%. The spread on loans over the cost of borrowings for the nine-months ended December 31, 2012 stood at 2.28%.
As at December 31, 2012, the unrealised gains on HDFC's listed investments amounted to Rs 34,117 crores (previous year Rs 19,139 crore). This excludes the appreciation in the value of unlisted investments.
