Motilal Oswal (MOSL) has maintained a Buy rating on HDFC Bank with a target price of ₹2,050, highlighting the bank’s journey towards normalized growth and profitability. MOSL estimates HDFC Bank to deliver RoA/RoE of 1.8%/14.2% by FY27E.
Key drivers include:
- Robust asset quality and accelerated CD ratio restoration,
- Strong liability momentum supported by a moderating rate environment, and
- Improved operating leverage with an estimated C/I ratio of 39.8% by FY27.
MOSL remains positive on HDFC Bank’s long-term growth potential, backed by its resilient asset quality, robust profitability metrics, and strategic initiatives to enhance operating efficiency.
