MUMBAI: Housing Development Finance Corp is expected to report a 32 per cent year-on-year rise in net profit to Rs 2,949.7 crore for the quarter ended March. The company is likely to report net interest income of Rs 4,064 crore, up 23 per cent.
The country’s largest housing finance company will report its March quarter earnings on Friday.
The company’s performance in the quarter will be aided by strong demand for housing loans during the quarter. The domestic housing market had a stellar March quarter aided by stamp duty cuts in major markets and government initiatives.
Brokerage firm
Markets expects HDFC’s assets under management to grow 9.3 per cent on-year in the March quarter aided by strong demand conditions.
HDFC, in its quarterly update, had said that the individual loans segment continued to see strong improvements after suffering in the June quarter of the previous financial year due to national lockdown.
During the quarter, HDFC assigned loans to
worth to Rs 7,503 crore compared to Rs. 5,479 crore in the corresponding quarter of the previous year.
“Expect growth to remain healthy in individual home loan disbursements; developer finance books to grow at a slower pace,” said brokerage firm Axis Capital. The brokerage firm said that the company’s margins may come under pressure due to relatively lower yields.
Investors will watch out for the company’s commentary on the housing loan market and the impact of the second wave of Covid-19 on demand so far.
Shares of HDFC ended 2.1 per cent higher at Rs 2,428 on the National Stock Exchange on Thursday.
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