HDFC Ltd. Financial Results for the Period April to December,

Mumbai, Maharashtra, India, Monday, January 21, 2013 -- (Business Wire India) 
Performance Highlights 
-- 24% increase in the consolidated profit after tax to ` 4,556.59 crores for
the nine months ended December 31, 2012  
-- 18% increase in the standalone profit after tax to ` 3,293.13 crores for the
nine months ended December 31, 2012  
-- 19% increase in the standalone Net Interest Income for the quarter ended
December 31, 2012 
-- 31% growth in the individual loan book (after adding back the loans sold in
the preceding 12 months)  
-- Gross non-performing loans stood at 0.75% of the loan portfolio as at
December 31, 2012 compared to 0.82% as at December 31, 2011 – 32nd consecutive
quarter end at which the percentage of non-performing loans has been lower than
the corresponding quarter in the previous year. 
The Board of Directors of Housing Development Finance Corporation Limited (HDFC)
announced its unaudited and consolidated financial results for the third quarter
of the financial year 2012-2013, following its meeting on Monday, January 21,
2013 in Mumbai. The accounts have been subject to limited review by the
Corporation's statutory auditors in line with the regulatory guidelines. 
CONSOLIDATED FINANCIAL RESULTS 
For the nine months ended December 31, 2012, the consolidated profit after tax
stood at ` 4,556.59 crores as compared to ` 3,685.77 crores in the nine months
ended December 31, 2011 – an increase of 24%.  
The consolidated profit after tax for the nine months ended December 31, 2012
does not consider the charge in respect of the redemption premium on Zero Coupon
Debentures amounting to ` 355.49 crores (net of tax) { ` 410 crores for the nine
months ended December 31, 2011}. 
Had the aforesaid adjustment been considered, the profit after tax for the nine
months ended December 31, 2012 would have been ` 4,201.10 crores compared to `
3,275.77 crores for the nine months ended December 31, 2011, representing an
increase of 28%. 
STANDALONE FINANCIAL RESULTS 
Financials for the Nine-months ended December 31, 2012 
For the nine-months ended December 31, 2012, HDFC reported a profit after tax of
` 3,293.13 crores as compared to ` 2,796.48 crores for the nine-months ended
December 31, 2011 – an increase of 18%. 
Financials for the quarter ended December 31, 2012 
The profit after tax for the quarter ended December 31, 2012, amounted to `
1,140.10 crores (Previous Year – ` 981.25 crores). 
TOTAL ASSETS 
As at December 31, 2012 the total assets of HDFC stood at ` 1,83,770 crores as
against ` 1,54,036 crores as at December 31, 2011 – an increase of 19%. 
LENDING OPERATIONS 
As at December 31, 2012, the loan book stood at ` 1,60,941 crores as against `
1,32,208 crores as at December 31, 2011. Individual loans sold during the
preceding twelve months amounted to ` 5,264 crores. The growth in the individual
loan book, after adding back loans sold is 31% (25% net of loans sold). The
growth in the total loan book after adding back loans sold is 26% (22% net of
loans sold). 
As at December 31, 2012, the total loans outstanding in respect of loans sold
stood at ` 16,049 crores. HDFC continues to service the loans sold under these
transactions and is entitled to the residual interest on the loans sold. The
residual interest on the individual loans sold is 1.37% p.a. and is accounted
over the life of the loans. 
Spreads and Net Interest Margins 
The spread on loans over the cost of borrowings for the nine-months ended
December 31, 2012 stood at 2.28%. Net Interest Margin for the nine-month period
ended December 31, 2011 was 4.1%. 
Investments 
As at December 31, 2012, the unrealised gains on HDFC's listed investments
amounted to ` 34,117 crores (previous year ` 19,139 crores). This excludes the
appreciation in the value of unlisted investments. 
Non-Performing Loans 
Gross non-performing loans as at December 31, 2012 amounted to ` 1,224 crores.
This is equivalent to 0.75% of the loan portfolio (previous year – 0.82%).
This is the thirty-second consecutive quarter end at which the percentage of
non-performing loans has been lower than the corresponding quarter in the
previous year. The non-performing loans of the individual portfolio stood at
0.62% while that of the non-individual portfolio stood at 0.91%. 
The balance in the provision for contingencies account as at December 31, 2012
stood at ` 1,783 crores as against a regulatory provisioning requirement of `
1,492 crores, hence the excess provision carried by the Corporation over the
regulatory requirement was ` 291 crores. Of this ` 1,276 crores comprises
general provisioning on standard loans, including provisioning on Dual Rate Home
Loans. 
CAPITAL ADEQUACY RATIO 
HDFC's capital adequacy ratio stood at 17.5% of the risk weighted assets, as
against the minimum requirement of 12%. Tier 1 capital adequacy was 14.9% as
against a minimum requirement of 6%. 
DISTRIBUTION NETWORK 
HDFC's distribution network spans 326 outlets, which include 80 offices of
HDFC's distribution company, HDFC Sales Private Limited (HSPL). In addition,
HDFC covers over 90 locations through its outreach programmes. Distribution
channels form an integral part of the distribution network with home loans being
distributed through HSPL, HDFC Bank Limited and other third party selling
associates. 
To cater to non-resident Indians, HDFC has offices in London, Dubai and
Singapore and service associates in Kuwait, Oman, Qatar, Sharjah, Abu Dhabi and
Saudi Arabia – Al Khobar, Jeddah and Riyadh. 
January 21, 2013 
To view the results, please click on the links given below: 
Dec 12 
Consol Qtr Dec 12 
Standalone Qtr Dec 12 
Media contact details 
Mahesh Shah,
Housing Development Finance Corporation Limited,
+91 (22) 66316410,
maheshs@hdfc.com 
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-0- Jan/21/2013 11:37 GMT
 
 
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