HDFC Ltd reports Q3 result, loan allotment increases by 5%

The Mortgage financier sold loans that amounted to Rs 27,591 crores in 2021 as compared to Rs 16,956 crores in the previous year.

Mumbai-based mortgage financier Housing Finance Development Corporation Ltd. (HDFC) on Monday shared its business outlook for the quarter ending December 2021. The company said, “It had allotted loans worth Rs 7,468 crores in Q3 of 2021 as compared to Rs 7076 crores in the same quarter of the year 2020. They saw an increment of 5 per cent in the allotment of loans.”

“All the loans assigned during the December quarter were to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between the corporation and HDFC Bank,” said in a press release.

In 2021, the mortgage lender sold loans worth Rs 27,591 crores as compared to Rs 16,956 crores in 2020. Its gross income also increased from dividends for the period at Rs 195 crores, HDFC said in a regulatory filing.

The company is carrying approximately Rs 27,000 crores worth of high-quality liquidity assets (HQLA) held entirely in government securities. Furthermore around Rs 13,000 crores of HQLA is held for the requirements of statutory liquidity ratio and Rs 15,000 crores were being held for general liquidity purposes. In compliance with the rules of the Reserve Bank of India (RBI) with effect from December 1, 2021, the parent company is required to maintain the liquidity coverage ratio (LCR) up to a minimum of 50 per cent. The company also has liquidity buffers of approximately Rs 55,000.

In aggregate, HDFC Ltd. posted its revenues from operations of Rs 1,39,034 lakh crore in the year 2021 against Rs 1,01,726 lakh crore in the year 2020. On Monday HDFC Ltd. shares closed 1.93% higher at Rs 2636.40 on NSE.

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