HDFC standalone net up 14%

Housing finance bellwether HDFC booked a net profit of ₹1,827 crore for the second quarter of fiscal FY17, up 14 per cent over the year-ago quarter (₹1,605 crore) on a standalone basis.

Loans to individuals on a year-to-date basis grew 20 per cent with the average loan size being ₹25.7 lakh.

Assets under management At the end of Q2 FY17, the lender’s total assets under management (AUM) stood at ₹3,11,264 crore. Of this, the loan book was ₹2,75,406 crore and outstanding loans sold/assigned was ₹35,858 crore. During the quarter, HDFC sold loans worth ₹1,939 crore to HDFC Bank. Net interest margin for the half year ended September 30, 2016, was 3.85 per cent.

The spread on the individual loan book was 1.95 per cent and on the non-individual book 3.04 per cent.

Non-performing loans Gross non-performing loans as at September 30 totalled ₹2,108 crore. This was equivalent to 0.76 per cent of the loan portfolio. The non-performing loans of the individual portfolio stood at 0.61 per cent while that of the non-individual portfolio stood at 1.11 per cent.

According to National Housing Bank norms, the corporation is required to carry a total provision of ₹2,106 crore, of which, ₹1,435 crore is against standard assets.

Capital adequacy HDFC’s capital adequacy ratio stood at 16.5 per cent. Of this, Tier I capital was 13.3 per cent and Tier II capital, 3.2 per cent. According to regulatory norms, minimum requirement for capital adequacy ratio and Tier I capital are 12 per cent and 6 per cent, respectively.

The corporation raised rupee-denominated bonds overseas amounting to ₹5,000 crore through four issues and was the first Indian corporate issuer of these bonds which were listed on the London Stock Exchange.

HDFC, on a consolidated basis, booked a net profit of ₹5,243 crore as compared with ₹4,311 crore in the year-ago period, up 22 per cent year-on-year.

The share of profit from subsidiary and associate companies in the consolidated profit after tax stood at 29 per cent for H1 FY17.