HDFC Ltd, the mortgage lender, reported a 16 percent increase in net profit at Rs 3,700 crore for the quarter ending March 2022, compared to Rs 3,180 crore in the same quarter of the previous year. The board has proposed a dividend of Rs 30 per share for the fiscal year ending March 2022, up from Rs 23 per equity share in FY21. In the 2021-22 period, individual approvals and disbursements experienced growth of 38 percent and 37 percent, respectively, compared to the previous year.
Despite the absence of concessional stamp duty benefits in certain states, which were available in the previous year, HDFC recorded its highest monthly individual disbursements ever in March. As of March 2022, the assets under management (AUM) reached Rs 6,53,902 crore, up from Rs 5,69,894 crore in the previous year. Individual loans constitute 79 percent of the AUM, with a 17 percent growth in the individual loan book and a 15 percent growth in the total AUM on an AUM basis.
During Q4FY22, HDFC assigned individual loans amounting to Rs 8,367 crore, compared to Rs 7,503 crore the previous year. Individual loans sold in the preceding 12 months totaled Rs 28,455 crore, up from Rs 18,980 crore last year.
As of March, gross individual non-performing loans (NPLs) stood at 0.99 percent of the individual portfolio, while gross non-performing non-individual loans were at 4.76 percent of the non-individual portfolio. The gross NPLs as of March 31, 2022, amounted to Rs 10,741 crore, equivalent to 1.91 percent of the portfolio.