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Housing Development FinanceHousing Development Finance
Corporation LimitedCorporation Limited
December 2012
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CONTENTSCONTENTS
HDFC Snapshot
Mortgage Market in India
2
Valuations and Shareholding
Key Subsidiaries and Associates
Financials: Standalone and Consolidated
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WHO WE AREWHO WE ARE
Incorporated in 1977 as the first specialised mortgage
company in India Now a Financial Conglomerate with interests beyond
mortgages:
HDFC Snapshot
4
73% shares held by Foreign Investors
HDFC
23%
HDFC Bank
72.4%
HDFC
Standard LifeInsurance
59.9%
HDFC AssetManagement
73.9%
HDFC ERGO
GeneralInsurance
59.9%
GRUHFinance
100%
HDFC
PropertyVentures
80.5%
HDFC
VentureCapital
89.1^Credila
FinancialServices
^ On a fully diluted basis
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BUSINESS SUMMARYBUSINESS SUMMARY Loans Outstanding : Rs. 1,609.41 bn*
(December 31, 2012) : US$ 29.27 bn
Mortgage Loans CAGR (5 years) : 22%(Up to March 31, 2012)
Cumulative Housing Units Financed : 4.3 million
HDFC Snapshot
5
Total loan write offs since inception : 4 basis points(of cumulative disbursements)
Cost to Income Ratio (FY 2012) : 7.6%
Unrealised gains on listed investments : Rs. 341.17 bn(December 31, 2012) : US$ 6.21 bn
Profit After Tax CAGR (5 years) : 21%(Up to March 31, 2012)
* (Net of loans sold)
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800
900
1,000
606.11
751.85
901.54
603.14
711.13
n
LOAN APPROVALS & DISBURSEMENTSLOAN APPROVALS & DISBURSEMENTS
20%
18%
HDFC Snapshot
6
0
100200
300
400
500
600
FY10 FY11 FY12
.
Loans Approved Loans Disbursed
Rs.
in
billi
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NATIONAL SPREADNATIONAL SPREAD
HDFC Snapshot
No. of Outlets
2002 118
2003 142
2004 173
2005 203
2006 219
7
Outreach Programmes to 90 locations
Deposit & loan products offered
to individuals in over 2,400 towns and cities.
* Inclusive of 80 outlets of wholly owned distribution company
2008 250
2009 267
2010 278
2011 289
2012 (Dec) 326
Denotes cities with 4 or more officesDenotes cities with 4 or more offices
Denotes cities with 3 OfficesDenotes cities with 3 Offices
OfficesOffices
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8
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High demand growth driven by:
Improved Affordability
Rising disposable income
Tax incentives (interest and principal repayments deductible)
Affordable interest rates
MARKET SCENARIOMARKET SCENARIO
Mortgage Market in India
9
Increasing Urbanisation Currently only 31% of Indian population is urban
Favorable Demographics
60% of Indias population is below 30 years of age
Rapid rise in new households
Urban housing shortage estimated at 26.53 million
units (Source: Eleventh Five Year Plan)
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IMPROVED AFFORDABILITYIMPROVED AFFORDABILITY
22.0
15.6
11.1
6.00
8.00
10.00
12.00
20
25
30
35
40
45
50
Income(Rs.Lac)
alue(Rs.Lac)&
rdability
Mortgage Market in India
10
8.36.6
5.9 5.3 5.1 4.7 4.3 4.7 5.0 5.1 5.1 4.5 4.7 4.8 4.6
0.00
2.00
4.00
0
5
10
15Annua
Property
A
ff
Property Cost (Rs. Lac) Affordability Annual Income (Rs. Lac)
1 Lac = 1,00,000
Representation of property price estimates Affordability equals property prices by annual income
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80%
100%
120%
77%
85%
101%
LOW PENETRATION IMPLIES ROOM FOR GROWTHLOW PENETRATION IMPLIES ROOM FOR GROWTHMORTGAGES AS AMORTGAGES AS A PERCENT OF NOMINALPERCENT OF NOMINAL GDPGDP
Mortgage Market in India
12
0%
20%
40%
60%
8%
17%20%
34%36% 40%
43%47%
54%
Source: European Mortgage Federation, 2010, HOFINET, 2010 & HDFC estimates for India
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OPERATIONAL AND FINANCIALOPERATIONAL AND FINANCIAL
13
::
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HDFCs ASSETSHDFCs ASSETS(As at December 31, 2012)(As at December 31, 2012)
88%
Operational & Financial Highlights: Mortgages
Total Assets as at December 31, 2012
Rs. 1,837.70 billion (US$ 33.42 billion)
Total Assets as at December 31, 2011
14
8%4%
Loans - 88%
Investments - 8%
Other Assets - 4%
Total assets have been computed as per Indian Accounting Standards and consequently notfair valued. The unrealised gains on listed and unlisted investments as at December 31, 2012has not been considered in the aforesaid. The unrealised gains only on listed investments as
at December 31, 2012 stood at Rs. 341.17 bn.US $ amounts are converted based on the exchange rate of US $ 1= Rs. 54.98
Rs. 1,540.36 billion (US 28.02 billion)
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Individuals68%
Corporate12%
RentalDiscounting
7%
INDIVIDUAL LOANS
Home Loans
Fixed rate loans Floating rate
loans
Home ImprovementLoans
CORE BUSINESSCORE BUSINESS LENDINGLENDING(As at(As at December 31, 2012)December 31, 2012)
Operational & Financial Highlights: Mortgages
15
ConstructionFinance
13%
Loans Short Term Bridging
Loan
Loans to NRIs
December 31, 2012Rs. in billion
Gross Loans 1,769.90
Less: Loans securitised - on which
spread is earned over the life of the loan 160.49
Loans Outstanding 1,609.41
LOANS
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ANALYSIS OF THE LOAN BOOKANALYSIS OF THE LOAN BOOK
Operational & Financial Highlights: Mortgages
As at December 31, 2012
Rs bn % Growth Rs bn % Growth
Individuals 1,052 25% 1,105 31%
Non Individuals 557 16% 557 16%
Loan Book o/s Loan Book o/s Before
Sell Down in last 12
months
16
* 31D12 3112
AD
2013
AD
2012. . .
Individuals 1,088 888 200 85% 76%
Non Individuals 557 521 36 15% 24%
1,645 1,409 236 100% 100%
%
* Includes loans sold
Total 1,609 22% 1,662 26
Incremental Growth of the Loan Book
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HDFC Bank - 29%
Direct Walk-ins -
11%
Other DSAs - 14%
86% OF OUR MORTGAGES ARE SOURCED BY86% OF OUR MORTGAGES ARE SOURCED BYOURSELVES OR THROUGH OUR AFFILIATESOURSELVES OR THROUGH OUR AFFILIATES
Operational & Financial Highlights: Mortgages
December 31, 2012
18
HDFC Sales
Private Limited -
46%
HDFC Bank - 29% HDFC Sales Private Limited - 46%
Direct Walk-ins - 11% Other DSAs - 14%
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OUR CONSERVATIVE LOAN PROFILEOUR CONSERVATIVE LOAN PROFILEUNDERLIES OUR HIGH CREDIT QUALITYUNDERLIES OUR HIGH CREDIT QUALITY
Average Loan Size : Rs. 2.15 mn (US$ 39,105)
Maximum Loan to Value : 80%
Operational & Financial Highlights: Mortgages
19
Average Loan to Value : 65% (at origination)
Average Loan Term : 13 years
Primary Security : Mortgage of property financed
Repayment Type : Amortising
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PROVISION FOR CONTINGENCIES & NET NPLsPROVISION FOR CONTINGENCIES & NET NPLs(As at December 31, 2012)(As at December 31, 2012)
0.80%
1.00%
1.20%0.85% 0.82% 0.75%
0.97%
1.17% 1.10%
age
As at December 31, 2012
(Rs. in bn)
NPLs (3 months): 12.24Provision forContingencies: 17.83Of whichNPAs: 5.07
Operational & Financial Highlights: Mortgages
20
0.00%
0.20%
0.40%
0.60%
Dec-10 Dec-11 Dec-12
0.00% 0.00%0.00%
GROSS NPLs PROVISION FOR CONTINGENCIES NET NPLs
Perce
n .
RegulatoryProvisioning: 14.92
Excess Provisioningover Regulatory
Provisioning: 2.91
As at December 31, 2012, it was the 32nd consecutive quarter end at which the percentage ofnon-performing loans have been lower than the corresponding quarter in the previous year.
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41%53% 58%
1% 1% 1%
80%
100%
International Borrowings
Bonds & Debentures
MULTIPLE SOURCES OF BORROWINGSMULTIPLE SOURCES OF BORROWINGS(As at December 31, 2012)(As at December 31, 2012)
Operational and Financial Highlights : Mortgages
22
25% 27% 33%
33%19% 8%
0%
20%
40%
Dec-10 Dec-11 Dec-12
Domestic Term Loans
Deposits
Total Borrowings Rs. 1,488.70 bn (PY Rs. 1,270.96 bn)
Percentag
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BORROWINGS (2)BORROWINGS (2)
Borrowings As At 31-Dec-12 31-Mar-12Net
IncreaseApr-Dec FY 2013
Rs. bn Rs. bn Rs. bn
% of incremental
funding
Operational & Financial Highlights: Mortgages
23
. . . -
Bonds & Debentures 854.67 621.38 233.29 239%
Deposits 497.63 362.93 134.70 138%
Total 1,488.70 1,391.28 97.42 100%
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416
735
524
423
772
480500
600
700
800
900
n
billion
MATURITYMATURITY PROFILEPROFILE(As at March 31, 2012)(As at March 31, 2012)
Operational & Financial Highlights: Mortgages
24
0
100
200
300
400
Up to 1 yr 2-5 yrs Over 5 yrs
Assets Liabilities
Rs
.i
The above graph reflects adjustments for prepayments and renewals in accordance with the
guidelines issued by National Housing Bank.
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10.90%
10.30%
11.83% 12.28%
8.59%
7.97%9.56%
10.00%
2.31%
2.33%
2.27%
2.28%
2.20%
2.25%
2.30%
2.35%
2.40%
6.00%
8.00%
10.00%
12.00%
14.00% LOAN SPREADSLOAN SPREADS
Operational & Financial Highlights: Mortgages
25
2.10%
2.15%
0.00%
2.00%
.
FY10 FY11 FY12 Apr-Dec-12
Return on Loans Cost of Borrowings Spread
Apr-Dec-2012:Spread on Individuals Loans: 1.95%Spread on Non-Individuals: 2.79%Spread on Loans: 2.28%
O i l & Fi i l Hi hli h M
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STRENGTHSSTRENGTHSHome Loan Strengths
Low average loan to value ratio and instalment to income ratios
Efficient recovery mechanisms
Steady level of prepayments
Quality underwriting with experience of over 35 years
Operational & Financial Highlights: Mortgages
26
Corporate Strengths
Strong brand customer base of 4.3 million
Stable and experienced management average tenor of senior
management in HDFC over 25 years
High service standards
Low cost income ratio: 7.6% (As at March 31, 2012)
O ti l & Fi i l Hi hli ht M t
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RISING PRODUCTIVITY RATIOSRISING PRODUCTIVITY RATIOSFY12FY12 FY00FY00 FY90FY90
# of employees 1,719 794 727
# of outlets 237 67 24
Operational & Financial Highlights: Mortgages
27
Profit per employee (US$ 000) 473 118 8
Assets per employee (US$ mn) 18.1 4.4 0.5
Admin cost/assets (%) 0.30 0.49 0.76
Cost income ratio (%) 7.6 13.8 30.9
O ti l & Fi i l Hi hli ht M t
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12 11 10
AA (%) 3.9 4.0 3.8
AA (%) 2.8 2.9 2.7
KEY FINANCIAL METRICSKEY FINANCIAL METRICS
Operational & Financial Highlights: Mortgages
28
(%) 22.7 21.7 20.0C A (%) 17.5 14.0 14.6
14.9 12.2 12.8
2.6 1.8 1.8
^ As at Dec 31, 2012
March 2012: The drop in the Return on Average Assets is on account of lower profit on sale ofinvestments amounting to Rs. 2.70 bn as against Rs. 3.60 bn for the year ended March 31, 2011.
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29
V l i d Sh h ldi
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SIGNIFICANT ACCOUNTING DIFFERENCESSIGNIFICANT ACCOUNTING DIFFERENCESBETWEEN INDIAN GAAP AND IFRSBETWEEN INDIAN GAAP AND IFRS
Investments are required to be reflected in thebalance sheet at original cost and not at fair value.
Valuations and Shareholding
30
Standalone accounts only reflect dividend paid bythe subsidiary/associate companies and not the pro-rata share of profits.
Insurance companies are required to charge offacquisition costs upfront as against amortising the
costs over the life of the policy.
V l ti d Sh h ldi
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Dec-12 Dec-11 Dec-10
M arket price per share (Rs) 829 652 728
M arket Capitalisation (USD Bn) 23.2 17.5 19.4
Price Earnings Ratio (times) 29.1 25.8 33.4
Book Value per share (Rs) - Indian GAAP 166 132 122
VALUATIONSVALUATIONS & RETURNS& RETURNS
Valuations and Shareholding
31
Price to Book Ratio (times) 5.0 4.9 6.0+Adjusted Book value per share (Rs) 387 262 270
(Without co nsidering any gain on unlisted investments)
+P rice to Book ratio 2.1 2.5 2.7
Foreign Shareholding (%) 73 74 74
*Share price as at December 31, 2012
+ Adjusted only for unrealised gains on listed investments amounting to Rs. 341.17 bn as at December 31,2012. All unlisted investments, including investments in the life and non-life insurance companies and the
asset management business are reflected at cost.
US $ amounts are converted based on the exchange rate of US $ 1= Rs 54.98
Valuations and Shareholding
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SHAREHOLDING PATTERNSHAREHOLDING PATTERN(As at December 31,(As at December 31, 2012)2012)
73% Foreign Shareholders - 73%
Individuals - 10%
Valuations and Shareholding
32
10%
11%3%3%
Financial Institutions, Banks andInsurance Companies - 11%
Mutual Funds - 3%
Companies - 3%
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Associates and Subsidiaries
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HDFC BANKHDFC BANK 23% owned by HDFC Market Cap US$ 29.2 bn
ADRs listed on NYSE
2,776 branches, 10,490 ATMs, 1,568 cities Key business areas
Wholesale banking Retail banking Treasury operations
Associates and Subsidiaries
34
Total net advances as at December 31, 2012, stood at Rs. 2,414.93 bn an increase of24% over the previous year.
Total deposits stood at Rs. 2,841.19 bn an increase of 22% over the previous year.
PAT: Rs. 48.36 bn an increase of 30% over the previous year
Arrangement between HDFC & HDFC Bank HDFC Bank sources home loans for a fee
Loans originated in the books of HDFC
HDFC offers a part of the disbursed loans for sale to HDFC Bank
HDFC retains a spread on the loans that have been sold
Associates and Subsidiaries
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Ownership and Capitalisation
HDFC holds 72.4% and Standard Life 26% of the equity of HDFC Life
Paid up share capital as at December 31, 2012: Rs. 21.6 bn
No additional capital injected since FY12
HDFC STANDARD LIFE INSURANCE COMPANY LTD.HDFC STANDARD LIFE INSURANCE COMPANY LTD.(HDFC LIFE)(HDFC LIFE)
Associates and Subsidiaries
35
Premium income and growth New business premium income for the nine months ended December 31,
2012: Rs. 19.2 bn a growth of 15%
Share of renewal premium to total premium for 9M FY13 is 63%
Market share
Ranked 2nd in the private market share for the nine months ended December
31, 2012
Individual business market share at 17.2% (private sector), 6.2% (overall)Source: IRDA
Associates and Subsidiaries
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Assets Under Management
As at December 31, 2012, Assets Under Management stood at Rs. 392 bn anincrease of 42% over December 31, 2011
Products
Offers 31 individual products and 9 group products along with 10 (including
group and individual) optional riders
HDFC STANDARD LIFE INSURANCE COMPANY LTD.HDFC STANDARD LIFE INSURANCE COMPANY LTD.
Associates and Subsidiaries
36
Offers 26 fund options across product categories
Distribution
HDFC group network is used to cross sell by offering customised products
Operates out of 451 offices across the country serving over 939 cities & aliaison office in Dubai
Network of 103,000 financial consultants, corporate agents and other sales
intermediaries
Strong bancassurance tie-ups with public, private and co-operative banks
Associates and Subsidiaries
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Solvency Ratio
As at December 31, 2012 : 219% (as against regulatory requirement of 150%)
Operating highlights (Nine months ended December 31, 2012)
Commission ratio: 5.7%
Operating expenses: 12.2%
HDFC STANDARD LIFE INSURANCE COMPANY LTD.HDFC STANDARD LIFE INSURANCE COMPANY LTD.
Associates and Subsidiaries
37
Individual business conservation ratio: 78%
Nine months ended December 31, 2012
Indian GAAP profits for 9M FY13 stood at Rs. 3.4 bn (PY Rs. 0.3 bn).
- The deficit as at March 31, 2012 of Rs. 0.6 bn has been completely off-set
from the surplus generated in the Policyholders Account. With
this, the adjusted Indian GAAP profits for 9M FY13 stood at Rs. 4 bn.
Market Consistent Embedded Value: Rs. 53 bn (As at September 30, 2012)
Associates and Subsidiaries
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HDFC ASSET MANAGEMENTHDFC ASSET MANAGEMENT Tie-up with Standard Life Investments (SLI)
HDFC holds 59.9% of HDFC Asset Management
HDFC Mutual Fund manages 39 schemes comprising debt, equity, exchangetraded fund and fund of fund schemes
38
arne a ro er ax o s. . n or
Average Assets under Management (AUM) as at December 31, 2012, stood atRs. 1,053.38 bn which is inclusive of assets under discretionary portfoliomanagement and advisory services.
Average Equity assets of HDFC MF as a proportion of average AUM as atDecember 31, 2012 was 35%.
Ranked first in the industry on the basis of Average Assets underManagement (Source: AMFI)
Associates and Subsidiaries
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HDFC ERGO GENERAL INSURANCE COMPANY LTD.HDFC ERGO GENERAL INSURANCE COMPANY LTD.
Ownership and Capitalisation
Paid-up share capital as at December 31, 2012: Rs. 5.24 bn
HDFC holds 73.9% , ERGO 26% of the equity of HDFC ERGO
No capital injected in the nine months ended December 31, 2012
Premium income and growth
Gross written premium for the nine months ended December 31, 2012: Rs. 18.12 bn
39
(PY Rs. 13.47 bn) growth of 35%
Profit After Tax for the nine months ended December 31, 2012
PAT: Rs. 1,105 mn (PY Rs. 616 mn)
Combined Ratio as at December 31, 2012
92.2% (PY 93.2%) before Motor Pool losses
Solvency
As at December 31, 2012: 151% (as against regulatory requirement of 140%)
Associates and Subsidiaries
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HDFC ERGO GENERAL INSURANCE COMPANY LTD.HDFC ERGO GENERAL INSURANCE COMPANY LTD.Market share
Market share of 8.4% (private sector) and 3.8% (overall) in terms of gross directpremium in the nine months ended December 31, 2012 (Source: GI Council)
Products
The company offers insurance products such as:
40
Motor, health, travel, home and personal accident insurance in the retail
segment and;
Property, marine, aviation and liability insurance in the corporate segment
Retail accounts for 56% of the total business
Distribution
Operates out of 80 branches across the country
HDFC group network is used to cross sell home and health insurance products
Associates and Subsidiaries
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GRUH FINANCE LIMITED (GRUH)GRUH FINANCE LIMITED (GRUH) 59.9% owned by HDFC
Registered housing finance company offering loans to individuals forpurchase, construction and renovation of dwelling units
Also offers loans to the self employed segment where formal incomeproofs are not available
41
, ,
Karnataka, Madhya Pradesh, Rajasthan, Chhattisgarh and Tamil Nadu Financials for the nine months ended December 31, 2012
Loan portfolio as at December 31, 2012, stood at Rs. 50.03 bn an increaseof 33% over the previous year
Gross non-performing assets (NPAs) : 0.53%, net NPAs: NIL
PAT: Rs. 828.2 million an increase of 28% over the previous year
Market Capitalisation: US$ 767 million
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Associates and Subsidiaries
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CREDILA FINANCIAL SERVICESCREDILA FINANCIAL SERVICES HDFC holds 87.2% in Credila Financial Services Private Limited
Credila is a non-banking finance company and is the only Indian
lender that is exclusively focused on education loans
- -
43
studying in India or abroad
As at December 31, 2012
Loan book outstanding: Rs. 6.97 bn
Cumulative disbursements: Rs. 7.89 bn
Average loan: Rs. 1.13 mn
Credila uses the existing distribution network of HDFC
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Financials
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PROFIT AND LOSS ACCOUNTPROFIT AND LOSS ACCOUNT AprApr--Dec (Standalone)Dec (Standalone)Apr-Dec-12 Apr-Dec-11 Growth
(Rs. in billion) (Rs. in billion) (%)
Operating Income 152.36 122.57 24
Interest Expenses 104.51 82.18 27
Net Interest Income 47.85 40.39 18
0.23 0.15
46
Less: Non Interest Expenses 4.26 3.49Less: Provision for Contingencies 1.20 0.55
Profit before sale of investment & tax 42.62 36.50 17
Add: Profit on Sale of Investments 2.11 1.91
Profit Before tax 44.73 38.41 16Provision for T ax 11.80 10.45 13
Profit After tax 32.93 27.96 18
Effective tax rate (%) 27.7% 28.6%
Financials
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PROFIT AND LOSS ACCOUNTPROFIT AND LOSS ACCOUNT FY13 Q3 (Standalone)FY13 Q3 (Standalone)Oct -Dec-12 Oct-Dec-11 Growth
(Rs. in billion) (Rs. in billion) (%)
Operating Income 51.46 43.79 18
Interest Expenses 35.21 30.12 17
Net Interest Income 16.25 13.67 19
47
. .
Less: Non Interest Expenses 1.44 1.12Less: Provision for Contingencies 0.40 0.20
Profit Before Sale of Investments & Tax 14.49 12.40 17
Add: Profit on Sale of Investments 0.96 0.88
Profit Before tax 15.45 13.28 16
Provision for Tax 4.05 3.47 17
Profit After tax 11.40 9.81 16
Effective tax rate (%) 26.2% 26.1%
Financials
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BALANCE SHEETBALANCE SHEET (Consolidated)(Consolidated)D12 D11 (Rs.in billion) (Rs.in billion) (%)
' 320.82 242.51
10.29 7.78
380.53 269.23
899.06 753.82 19
48
. .
2,380.03 1,932.37 23A
* 1,661.17 1,363.30 22
597.24 452.27
C A, A & A 119.95 115.02
1.67 1.78
2,380.03 1,932.37 23
*Net of loans sold during the preceding 12 months amounting to Rs. 52.64 billion. If these loans wereincluded, the growth in loans would have been 26%.
Loans amounting to Rs. 10.21 billion were sold during the quarter ended December 31, 2012.
Financials
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PROFIT AND LOSSPROFIT AND LOSS ACCOUNT (Consolidated)ACCOUNT (Consolidated)
AD12 AD11 (. ) (. ) (%)
160.85 130.73 23
B 79.85 72.81 10
B 35.51 (24.57)
2.26 2.05 278.47 181.02
C 107.47 84.30
49
/ /D 8.51 7.36
C B 34.96 25.37
B 76.32 22.43
C 1.35 0.83
228.61 140.29
49.86 40.73
0.31 0.50 B 50.17 41.23 22
13.59 11.80
36.58 29.43
A: A ( ) 11.29 8.69
: / () (2.30) (1.26)
C 45.57 36.86 24
Financials
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D12 D11 (Rs. in billion) (Rs. in billion) (%)
DC A 32.93 27.96 18%
DC 2.44 0.23
DC 0.75 0.46
CONSOLIDATED PROFIT AFTER TAXCONSOLIDATED PROFIT AFTER TAXFor the Nine Months ended December 31, 2012For the Nine Months ended December 31, 2012
(As per Indian GAAP)(As per Indian GAAP)
50
0.50 0.39
DC B 11.29 8.62DCAC 1.12 1.05
1.13 1.17
D A (4.59) (3.02)
C A 45.57 36.86 24%C /
A 28% 24%
Note: The Profit After Tax (PAT) for the nine months ended December 31, 2012 does not consider the redemption premium on Zero
Coupon Debentures amounting to Rs. 3.55 billion (Previous year Rs. 4.10 billion [net of tax].
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AWARDS & ACCOLADESAWARDS & ACCOLADESi Leading Housing Finance Company Award - CNBC TV18, 2012i HDFC adjudged the Best Home Loan Provider for two consecutive years Outlook Money Awards, 2011
& 2012
i HDFC is the only Indian company to be included in the fifth annual list of the 2011 Worlds Most Ethical
Companies by Ethisphere Institute, USA
i HDFC voted Best Investor Relations in India Finance Asias 2011 Annual Poll
i HDFC ranked amongst Indias best companies to work for Great Place to Work Institute, 2012
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i Awarded the Trusted Brand in the Home Loans Category by Readers Digest for two consecutive years
in 2011 and 2012
i Awarded the Best Foreign Enterprise with a Developmental Role in Housing Finance in Africa AfricanReal Estate & Housing Finance Academy
i HDFC one of Indias Best Managed Companies for two consecutive years Finance Asias 2010 and2011 Annual Poll
i Best Governed Company Award- 2010 Asian Centre for Corporate Governance & Sustainability
i Top Indian Company in the Financial Institutions/Non-Banking Financial Companies/Financial Servicescategory at the Dun & Bradstreet Rolta Corporate Awards 2011. The Corporation has won this awardfive times.
i India Shining Star CSR Award for Outstanding CSR in the Banking and Financial Sector FY11
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March 15, 2013