Friday, July 8, 2011

Housing Development Finance Corporation Limited =HDFC = RESULTS FOR Q1 FY 2012 =


Housing Development Finance Corporation Limited

NSE Symbol        HDFC

HDFC has declared results  – for Qtr1 ending June.2012. The results are analyzed below :

FINANCIAL RESULTS
FOR THE QUARTER ENDED JUNE 30, 2011

Ø  For the quarter ended June 30, 2011, HDFC reported a profit before tax of  Rs.1,175.53 crores as compared to Rs. 966.59 crores in the corresponding quarter of the previous year – an increase of 22%.

Ø After providing Rs. 331 crores for taxes, the profit after tax for the quarter ended June 30, 2011 amounted to Rs. 844.53 crores as compared to Rs. 694.59 crores in the corresponding quarter of the previous year – an increase of 22%.

Ø Basic EPS On a Face Value of Rs.2/- is Rs.5.75 in Q1 FY 12; as against Rs.7.76 in Q4 FY 11; Rs.6.09 in Q3 FY 11; Rs.5.53 in Q2 FY 11 and Rs.6.003( or 24.02 / 4 = 6.003) in Q1 FY 11.

Ø TOTAL ASSETS

Ø As at June 30, 2011, the total assets of HDFC stood at Rs.141,589 crores as against Rs.1,16,111 crores as at June 30, 2010 – an increase of 22%.

Ø Loan Book

Ø  As at June 30, 2011, the loan book stood at  Rs.124,168 crores as against  Rs.1,01,625 crores as at June 30, 2010 – an increase of 22%. Loans sold during the preceding 12 months amounted to Rs. 3,123 crores. The growth in the loan book inclusive of these loans is 25%.

Ø The spread on loans over the cost of borrowings for the quarter ended June 30, 2011 stood at 2.30%.

Ø Investments

Ø As at June 30, 2011, the unrealised gains on HDFC’s listed investments amounted to Rs.23,206 crores (previous year Rs. 16,775 crores). This excludes the appreciation in the value of unlisted investments.

Ø LENDING OPERATIONS

Ø For the quarter ended June 30, 2011, loan approvals grew by 22% and loan disbursements grew by 20% as compared to the corresponding quarter in the previous year.

Ø Non-Performing Loans

Ø  Gross non-performing loans as at June 30, 2011 amounted to Rs.1,038.15 crores. This is equivalent to 0.83% of the loan portfolio (previous year – 0.89%) This is the twenty-sixth consecutive quarter end at which the percentage of non-performing loans have been lower than the corresponding quarter in the previous year.

Ø  Based on a six months overdue basis, the non-performing loans as at June 30, 2011 stood at 0.55% of the loan portfolio as against 0.54% in the previous year.

Ø  In terms of the prudential norms as stipulated by the National Housing Bank, the Corporation is required to carry a provision of Rs. 839.66 crores, which includes the provisioning of  Rs.450.76 crores on standard assets in respect of housing loans granted under the Dual Rate Home Loan Scheme.

Ø The balance in the provision for contingencies account as at June 30, 2011 stood at Rs.1,172.68 crores, which is equivalent to 0.94% of the portfolio. Thus as at June 30, 2011, the Corporation’s net non-performing loans was nil.

Ø RESOURCES

Ø  As at June 30, 2011, deposits stood at Rs.30,500 crores as against  Rs. 23,906 crores on the corresponding date last year, registering a growth of 28%. HDFC’s deposits carry a “AAA” rating from both, CRISIL and ICRA.

Ø  During the first quarter of the current financial year, loans drawn from commercial banks and the National Housing Bank amounted to  Rs.14,383 crores.

Ø HDFC raised  Rs.7,197 crores through private placements of non-convertible debentures (NCDs) during the quarter ended June 30, 2011. The NCDs were “AAA” rated by both, CRISIL and ICRA.

Ø CAPITAL ADEQUACY RATIO

Ø HDFC’s capital adequacy ratio stood at 13.8% of the risk weighted assets, as against the minimum requirement of 12%. Tier 1 capital was 12.2% against a minimum requirement of 6%.

Ø DISTRIBUTION NETWORK

Ø  HDFC’s distribution network spans 294 outlets that include 76 offices of HDFC’s distribution company, HDFC Sales Private Limited (HSPL). In addition, HDFC covers over 90 locations through its outreach programmes. Distribution channels form an integral part of the distribution network with home loans being distributed through HSPL, HDFC Bank Limited and other third party direct selling associates.

Ø  To cater to non-resident Indians, HDFC has offices in London, Dubai and Singapore and service associates in Kuwait, Oman, Qatar, Sharjah, Abu Dhabi and Saudi Arabia – Al Khobar, Jeddah and Riyadh.


The other details of the results are in the Table below :

STAND ALONE QTRLY RESULTS TABLE:


HDFC
Q1FY12
Q4FY11
Q3FY11
Q2FY11
Q1FY11
Net Sales
380067
364056
314895
290655
279713
Employees Cost
5276
3837
4505
4696
4515
Depreciation
446
523
555
441
401
Other Expenditure
7392
5735
6472
6776
6661
Total Expenditure
13114
10095
11532
11913
11577
Profit from Operations
366953
353961
303363
278742
268136
Other Income
2093
14430
17209
6367
482
Interest
251493
212996
199284
171755
171959
Profit  before tax
117553
155395
121288
113354
96659
Tax expense
33100
41200
32200
32600
27200
Net Profit
84453
114195
89088
80754
69459
Face Value (In Rs
2
2
2
2
10
Paid Up Equity
29399
29337
-
-
29095
Basic EPS
5.75
7.76
6.09
5.53
24.02
Diluted EPS
5.65
7.6
5.91
5.45
23.54
Public holding (%)
100
0
0
0
100

 As can be seen from the table - Higher Interest Burden in the quarter has slightly reduced the Net Profits from preceding quarters - though, it is still higher than Q1 FY 2011.

ANNOUNCEMENTS TO NSE


10-05-2011      consolidated Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 1360552 lacs for year ending on 31-MAR-2011 against Rs. 1209306 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 452841 lacs for the year ending on 31-MAR-2011 against Rs. 324098 lacs for the year ending on 31-MAR-2010.   -

10-05-2011      standalone Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 1249319 lacs for year ending on 31-MAR-2011 against Rs. 1112888 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 353496 lacs for the year ending on 31-MAR-2011 against Rs. 282649 lacs for the year ending on 31-MAR-2010.

04-05-2011      press release dated May 04, 2011, titled "IndusInd Bank signs an MoU with HDFC Ltd. for home loans".

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1 comment:

  1. HDFC bank home loan provides different techniques of expenses and applications such as the pay using other means method such as home security evaluation and business in. The financial institutions are now willing to take things such as vehicles jewelry piecies and lots to help people supplement for the financial insufficiencies.

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