HDFC Q3 net rises 11% on higher core income
The Hindu
‘Strong demand for home loans’
Housing Development Finance Corporation Ltd. (HDFC) reported third- quarter net profit rose 11% to ₹3,261 crore from ₹2,926 crore in the year-earlier period on higher core income.
However, there was an increase in non-performing loans (NPLs), the lender said. “The demand for home loans and pipeline of loan applications continues to remain strong,” said vice-chairman and CEO Keki Mistry. “Growth in home loans was seen in the affordable housing segment and in high-end properties as well,” he said.
“The increasing sales momentum and new project launches augurs well for the housing sector,” Mr. Mistry added.
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