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HDFC net profit up 11% to ` 1,723 cr.

HOUSING Development Finance Corporation ( HDFC), the country's largest mortgage lender, reported 10.8- per cent increase in standalone net profit for the quarter ended March 31, 2014, to ` 1,723 crore on Tuesday on a 26- per cent growth in retail loans. For the full year, standalone net profit rose 12 per cent to ` 5,440.24 crore.

" We have not seen any real slowdown in our business in the past two years. Our individual loan book has grown at 26 per cent in 2013- 14 on a year- onyear basis. Delhi- NCR continues to be the largest contributor to growth followed by Mumbai, Chennai, Bangalore and Pune," Keki Mistry, vice- chairman and chief executive officer, said.

Of the total loan book, individual loans had 71 per cent share. Gross non- performing loans stood at ` 1,357 crore, equivalent to 0.69 per cent of the loan portfolio, at the end of March compared with 0.77 per cent in the December quarter.

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Publication:Mail Today (New Delhi, India)
Article Type:Financial report
Date:May 7, 2014
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