The non-bank lender’s total revenue from operations grew 4.1 per cent to Rs 12,215.95 crore in the quarter.
HDFC said its assets under management at the end of September quarter stood at Rs 5.97 lakh crore, up from Rs 5.40 lakh crore in the year-ago quarter. The housing finance company reported a 17 per cent year-on-year growth in net interest income for the quarter.
“Home loan demand remains strong. Both the affordable housing segment as well as high-end properties saw an increase in home loans. Increasing sales momentum and new project launches augurs well for the housing sector,” HDFC said.
The non-bank lender indicated a sharp recovery in credit demand as personal disbursements grew by 23 per cent, while October recorded the highest-ever personal loan disbursement in the non-quarter-ending month.
HDFC said its net interest margin for the quarter stood at 3.6 per cent, while its spread stood at 2.29 per cent. The lender also said that its debt collection efficiency had improved to 98 per cent in the quarter after suffering the June quarter due to the second wave of the pandemic.
Gross bad loans stood at over Rs 10,000 crore at the end of the reported quarter, with a GNPA ratio of 2 per cent of total debt. Overall, the provisions on bad loans stood at Rs 13,340 crore at the end of the quarter.
Shares of HDFC were up 1.9 per cent at Rs 2,899.8 on the National Stock Exchange.