HDFC posts 11% rise in Q3 net on traction in individual loans

Mumbai: Housing Development Finance Corp Ltd (HDFC), India's largest private-sector mortgage finance company, said its net profit increased 11% mainly due to continued demand for home loans from individuals.

Net profit increased to ₹3,261 crore in the quarter ended December 2021 from ₹2,926 crore in December 2020.

Loans to individuals grew 16%, a faster pace than the 12% growth the company saw on its total assets under management (AUM). Total AUM increased to ₹6.18 lakh crore in December 2021 from ₹5.52 lakh crore in the previous year.


"The demand for home loans and pipeline of loan applications continues to remain strong. Growth in home loans was seen in both the affordable housing segment as well as in high-end properties. The increasing sales momentum and new project launches augur well for the housing sector," HDFC said in a statement.

In December 2021, HDFC recorded its second-highest monthly individual disbursements ever. About 79% of the company's loans were to individuals, up from 76% a year ago.