HDFC net up 22% at Rs 1037 crore in 2004-05

Housing Development Finance Corporation today reported a 16.71 per cent jump in net profit in the fourth quarter of 2004-05 to Rs 347.79 crore from Rs 297.97 crore a year ago.

The home mortgage lender's income from operations was up 15.52 per cent to Rs 952.28 crore from Rs 824.31 crore in January-March 2004. The board of HDFC has recommended a dividend of Rs 17 per share for 2004-05, against Rs 13.50 per share a year ago.

HDFC's net profit for the year 2004-05 was up by 21.69 per cent to Rs 1,036.59 crore from Rs 851.78 crore in 2003-04. During the year, income from operations rose to Rs 3,400.60 crore from Rs 3,068.76 crore in 2003-04.

Approvals in 2004-05 increased 30 per cent to Rs 19,715 crore from Rs 15,216 crore a year ago. Disbursements rose 28 per cent to Rs 16,207 from Rs 12,697 crore in 2003-04.

The total loan portfolio, inclusive of inestment in preference shares, debentures and inter-corporate deposits for financing real estate projects, was up 29 per cent to Rs 37,216 crore from Rs 28,850 crore in 2003-04.

HDFC's capital adequacy ratio was 13.4 per cent at the end of March 2005 against 13.3 per cent a year ago.