Hdfc expected to see not-so-good March quarter, but pressured portfolio will improve

Mortgage lender Housing Development Finance Corporation (HDFC) is set to report its results for the fourth quarter of fiscal 2022 on Monday, May 2, with the Street largely expecting a muted quarter, but pressure on the overall portfolio under Pressure is expected to decrease due to a reduction in restructured loans.

A CNBC-TV18 poll predicts assets under management (AUM) to grow 13% year-over-year and about 4% sequentially. The Street expects profit to rise 4% year-on-year to Rs 3,306.7 crore from Rs 3,179 crore, down from 11% annual growth last quarter. Net income is expected to increase approximately 1.4% sequentially.

The net interest margin (NIM) should improve on a sequential basis while the cost of credit should remain moderate.

Net interest income (NII) is expected to grow by 7.2% year-on-year to Rs 4,358 crore from Rs 4,064 crore. It will increase by 1.7% sequentially.

The stock closed flat at Rs 2,228.15 on Friday ahead of its earnings announcement. This week, the stock is up nearly 3% from 2,166 rupees on April 25 to today’s closing price.

Source: BSE

Last quarter, the mortgage lender reported standalone net profit of Rs 3,260.69 crore, up 11.44% year on year.

Total revenue from operations stood at Rs 11,783 crore compared to Rs 11,707 crore during the same period last year.

In the nine months to December 31, 2021, the company’s average individual loan size was recorded at Rs 32.3 lakh, down from Rs 28.5 lakh in the previous year.

First post: STI


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