HDFC Q4 net rises 16% to ₹3,700 crore
The Hindu
Mortgage loan disbursements jumped 37% in FY22
Housing Development Finance Corporation Ltd. (HDFC) on Monday reported fourth-quarter standalone net profit rose 16% to ₹3,700 crore, from ₹3,180 crore in the year-earlier period, as demand for home loans improved.
For the 12 months ended March 31, 2022, the mortgage lender reported net profit of ₹13,742 crore, a 14.3% increase from ₹12,027 crore.
Individual approvals and disbursements grew by 38% and 37%, respectively, in the last fiscal year, HDFC said.
“Growth in home loans was seen in both, the affordable housing segment as well as in high-end properties,” the lender said in a statement. “The increasing sales momentum and new project launches augurs well for the housing sector,” it added.
During the year, 29% of home loans approved in volume terms and 13% in value terms had been to customers from the Economically Weaker Section (EWS) and Low Income Group (LIG). The average home loan to the EWS and LIG segments stood at ₹11.2 lakh and ₹19.7 lakh, respectively, it said.
The Board recommended a dividend of ₹30 per equity share of face value of ₹2 each for the year ended March 31, compared with ₹23 in the previous year. The dividend pay-out ratio is 40%, HDFC said in a filing.
“The demand for home loans and pipeline of loan applications continues to remain strong,” it said.
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