Hdfc Jun13 11

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Housing Development FinanceCorporation Limited

March 2013

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CONTENTS

• HDFC Snapshot

• Mortgage Market in India

• Operational and Financial Highlights: Mortgages

• Valuations and Shareholding

• Key Subsidiaries and Associates

• Financials: Standalone and Consolidated

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HDFC SNAPSHOT

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WHO WE ARE…

• Incorporated in 1977 as the first specialised mortgagecompany in India

• Now a Financial Conglomerate with interests beyondmortgages:

• 74% shares held by Foreign Investors

HDFC

22.8%

HDFC Bank

72.4%

HDFCStandard Life

Insurance

59.8%

HDFC AssetManagement

73.9%

HDFC ERGOGeneral

Insurance

59.7%

GRUHFinance

100%

HDFCPropertyVentures

80.5%

HDFCVentureCapital

89.1%^Credila

FinancialServices

HDFC Snapshot

^ On a fully di luted basis

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BUSINESS SUMMARY• Loans Outstanding (net of loans sold) : Rs. 1,700.46 bn

(March 31, 2013) : US$ 31.43 bn

• Mortgage Loans CAGR - 5 years : 21%

• Cumulative Housing Units Financed : 4.4 million

• Total loan write offs since inception : Under 4 basis points(of cumulative disbursements)

• Cost to Income Ratio (FY 2013) : 7.8%

• Unrealised gains on listed investments : Rs. 306.98 bn(March 31, 2013) : US$ 5.67 bn

• Profit After Tax CAGR - 5 Years : 20%

HDFC Snapshot

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NATIONAL SPREAD

Outreach Programmes to several locationsDeposit & loan products offered

to individuals in over 2,400 towns and cities.

* Inclusive of 81 outlets of wholly owned distribution company

HDFC Snapshot

No. of Outlets

2003 – 1422004 – 173

2005 – 203

2006 – 219

2007 – 234

2008 – 2502009 – 267

2010 – 278

2011 – 289

2012 – 311

2013 – 331

Denotes cities with 4 or more offices

Denotes cities with 3 Offices

Offices

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MORTGAGE MARKET IN INDIA

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• High demand growth driven by: – Improved Affordability

• Rising disposable income

• Tax incentives (interest and principal repayments deductible)

• Affordable interest rates

– Increasing Urbanisation

• Currently only 31% of Indian population is urban

– Favorable Demographics

• 60% of India’s population is below 30 years of age

• Rapid rise in new households

• Urban housing shortage estimated at 26.53 millionunits (Source: Eleventh Five Year Plan)

MARKET SCENARIO

Mortgage Market in India

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IMPROVED AFFORDABILITY

22.0

15.6

11.1

8.3

6.65.9 5.3 5.1 4.7 4.3 4.7 5.0 5.1 5.1 4.5 4.7 4.8 4.6 4.7

0.00

2.00

4.00

6.00

8.00

10.00

12.00

0

5

10

15

20

25

30

35

4045

50

A n n u a

l I n c o m e ( R s . L a c )

P r o p e r t y V

a l u e ( R s . L a c ) &

A f f

o r d a b i l i t y

Property Cost (Rs. Lac) Affordabil ity Annual Income (Rs. Lac)


1 Lac = 1,00,000

Representation of property pr ice estimates Affordabi li ty equals property prices by annual income

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TAX INCENTIVES HAVE LOWERED THEEFFECTIVE RATES ON MORTGAGES


FY 2014 FY 2002 FY 2000

Loan amount (Rs) 2,000,000 2,000,000 2,000,000

Nominal Interest Rate(%) 10.15% 10.75% 13.25%

Max deduction for interest al lowed 250,000 150,000 75,000

Deduction on principal 100,000 20,000 20,000

Tax rate applicable 33.99% 31.50% 34.50%Tenor (years) 15 15 15

Total amount paid per year 303,000 269,028 307,620

Interest component 203,000 215,000 265,000

Principal repaid 100,000 54,028 42,620

Tax amount saved 102,990 53,550 32,775

Effective interest paid on home loan 100,010 161,450 232,225

Effective interest on home loan 5.0% 8.1% 11.6%

Note: The Union Budget 2013-14 has provided an additional one time benefit of interest deduction up to Rs. 100,000 for firsttime home buyers provided the loan amount and property cost does not exceed Rs. 2.5 million and Rs. 4 millionrespectively.

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0%

20%

40%

60%

80%

100%

120%

8%15%

20%

32%36% 40%

44% 45%54%

76%84%

101%

LOW PENETRATION IMPLIES ROOM FOR GROWTHMORTGAGES AS A PERCENT OF NOMINAL GDP


Source: European Mortgage Federation, 2011, HOFINET, 2011 & HDFC estimates for India

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OPERATIONAL & FINANCIAL

HIGHLIGHTS: MORTGAGES

Operational & Financial Highlights: Mortgages

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HDFC’s ASSETS(As at March 31, 2013)

87%

7%6%

Loans (including debentures & corporate depositsfor financing real estate projects) - 87%Investments - 7%

Other Assets - 6%

Total Assets as at March 31, 2013

Rs. 1,955.31 billion (US$ 36.14 billion)

Total Assets as at March 31, 2012

Rs. 1,675.20 billion (US$ 30.96 billion)

Total assets have been computed as per Indian Accounting Standards and consequently notfai r valued. The unreal ised gains on l isted and unl isted investments as at March 31, 2013 hasnot been considered in aforesaid. The unrealised gains only on listed investments as atMarch 31, 2013 stood at Rs. 306.98 bn.


US$ amounts are converted based on the exchange rate of US$ 1 = Rs. 54.10


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Individuals68%

Corporate13%

RentalDiscounting

6%

ConstructionFinance 13%

INDIVIDUALS

– Home Loans

• Fixed rate loans

• Floating rate loans

– Home ImprovementLoans

– Home Extension Loans

– Short Term Br idgingLoan

– Loans to NRIs

CORE BUSINESS – LENDING(As at March 31, 2013)


March 31, 2013

Rs . in billion

Gros s Loans 1,870.10

Less: Loans securitised - on w hich

spread is earned over the life of the loan 169.64

Loans Outstanding 1,700.46

LOANS


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ANALYSIS OF THE LOAN BOOK

Loans Outstanding* 31-Mar-13 31-Mar-12 Net Increase FY 2013 FY 2012

Rs. bn Rs. bn Rs. bn

Individuals 1,164 888 277 81% 70%

Non Individuals 588 521 67 19% 30%

1,752 1,409 344 100% 100%

% of incremental loans

* Includes loans sold


As at March 31, 2013

Rs. bn % Growth Rs. bn % Growth

Individuals 1,113 25% 1,164 31%

Non Individuals 587 13% 588 13%Total 1,700 21% 1,752 24%

Loan Book o/s Loan Book o/s BeforeSell Down in last 12

months

Incremental Growth of the Loan Book


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CONTINUING GROWTH MOMENTUM(As at March 31, 2013)

0

300

600

9001200

1500

1800

Mar-11 Mar-12 Mar-13

1,171.271,408.75

1,700.46

R s .

i n

b i l l i o

n

LOANS OUTSTANDING(Net of loans sold)

0

25

50

75

100


43.79 49.78

51.75

R s .

i n

b i l l i o n

LOANS SOLD(In the preceding 12 months)

As at March 31, 2013:

• The growth in the loan book inc lusive of loans sold in the previous 12 months is 24%

• Loans amounting to Rs. 16.37 bn were sold during the quarter ended March 31, 2013

•Loans sold (outstanding): Rs. 169.64 bn - on which spread at 1.33% p.a. is to be earned overthe life of the loan


Operational &Financial Highlights: Mortgages

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HDFC Bank - 28%

HDFC Sales

Private Limited -

46%

Direct Walk-ins -

11%

Other DSAs - 15%

HDFC Bank - 28% HDFC Sales Private Limited - 46%

Direct Walk-ins - 11% Other DSAs - 15%

85% OF OUR MORTGAGES ARE SOURCED BYOURSELVES OR THROUGH OUR AFFILIATES

Operational &Financial Highlights: Mortgages

March 31, 2013


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OUR CONSERVATIVE LOAN PROFILE

UNDERLIES OUR HIGH CREDIT QUALITY• Average Loan Size : Rs. 2.16 mn (~US$ 40,000)

• Maximum Loan to Value : 80%

• 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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0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

FY11 FY12 FY13

0.77%0.74% 0.70%

0.95%

1.16%1.05%

GROSS NPLs PROVISION FOR CONTINGENCIES

NPLs & PROVISION FOR CONTINGENCIES

As at March 31, 2013, it was the 33rd consecutive quarter end at which the percentage of non-performingloans have been lower than the corresponding quarter in the previous year.

P e r c e n t a g e


As at March 31, 2013

(Rs. in bn)

NPLs (3 months): 11.99

Provision for Contingencies: 17.92

RegulatoryProvisioning: 15.06Of whichNPAs: 3.87

Other Provisioning: 11.19

Excess Provisioningover RegulatoryProvisioning: 2.86

Total loan write-offs since inception is less than 4 basis points of cumulative disbursements


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13%

81%

6%

Shareholders' Funds

Borrowings

Other Liabil ities

Rs. – 250 bn

Rs. – 1,588.28 bn

Rs. – 117.03 bn

LIABILITIES

(As at March 31, 2013)

Total Liabili ties Rs. 1,955.31 bn (PY Rs. 1,675.20 bn)



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21%26%

33%

37% 29% 11%

42% 45%56%

0%

20%

40%

60%

80%

100%


Bonds and Debentures

Term Loans

Deposits

MULTIPLE SOURCES OF BORROWINGS(As at March 31, 2013)

Total Borrowings Rs. 1,588.28 bn (PY Rs. 1,391.28 bn)

P e r c e n t a g

e

p g g g g


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Borrow ings 31-Mar-13 31-Mar-12Net

Increase

During the year

FY 2013

Rs. bn Rs. bn Rs. bn % of incremental

funding

Domestic Term Loans 178 407 (229) -116%

Bonds & Debentures 891 621 270 137%Deposits 519 363 156 79%

Total 1,588 1,391 197 100%

BORROWINGS (2)

p g g g g


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484

902

569

462

936

557

0

200

400

600

800

1,000

Up to 1 yr 2-5 yrs Over 5 yrs

Assets Liabi lities

R s .

i n b i l l i o n

MATURITY PROFILE(As at March 31, 2013)

The above graph reflects adjustments for prepayments and renewals in accordance with theguidelines issued by National Housing Bank.

p g g g g


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10.90%

10.30%

11.83% 11.98%

8.59%

7.97%9.56% 9.68%

2.31%

2.33%

2.27% 2.30%

2.10%

2.15%

2.20%

2.25%

2.30%

2.35%

2.40%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

FY10 FY11 FY12 FY13

Returns on Loans Cost of Borrowings Spread

LOAN SPREADS

Apri l-March 2013Spread earned on:Individual Loans 1.96%Non-individual loans 2.94%Loan Book 2.30%


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STRENGTHS

Home Loan Strengths• Low average loan to value ratio and instalment to income ratios

• Efficient recovery mechanisms

• Steady level of prepayments

• Quality underwrit ing with experience of over 35 years

Corporate Strengths

• Strong brand – customer base of 4.4 million

• Stable and experienced management – average tenor of senior

management in HDFC over 25 years

• High service standards

• Low cost income ratio: 7.8% (As at March 31, 2013)


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RISING PRODUCTIVITY RATIOS

FY 2013 FY 2010 FY 2000 FY 1990Number of employees 1,833 1,505 794 727

Number of outlets 250 214 67 24

Profi t per employee (US$ '000) 488.9 416.2 117.5 7.5

Assets per employee (US$ mn) 18.5 16.4 4.4 0.5

Admin costs/assets (%) 0.30 0.29 0.49 0.76

Cost income ratio (%) 7.8 7.9 13.8 30.9


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Pre Tax RoAA (%) 3.8 3.9 4.0

Post Tax RoAA (%) 2.8 2.8 2.9

ROE (%)# 22.0 22.7 21.7

Capital Adequacy (%) 16.4 14.6 14.0

Of which Tier I 13.9 11.7 12.2

Tier II 2.5 2.9 1.8

KEY FINANCIAL METRICS

# March 2013: Net worth includes an amount of Rs. 32.85 bn realised on the conversion of99.9% of the Warrants issued into equi ty shares.

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VALUATIONS & SHAREHOLDING

Valuations and Shareholding

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SIGNIFICANT ACCOUNTING DIFFERENCES

BETWEEN INDIAN GAAP AND IFRS• Investments are required to be reflected in the

balance sheet at original cost and not at fair value.

• 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 thecosts over the life of the policy.

Valuations and Shareholding

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VALUATIONS & RETURNS

*Share price as at May 7, 2013

^ Adjusted only for unreal ised gains on li sted investments amounting to Rs. 341.45 bn as at May 7, 2013. All unl is ted investments , including investments in the li fe and non-li fe insurance companies and the assetmanagement bus iness are reflected at cost.

US $ amounts are converted based on the exchange rate of US $ 1= Rs. 54.10


Market price per share (Rs) * 854 674 701

Market Capitalisation (USD Bn) 24 18 19

Price Earnings Ratio (times) 26.8 24.1 29.1

Book Value per share (Rs) - Indian GAAP 162 129 118

Price to Book Ratio (times) 5.3 5.2 5.9 ̂Ad jus ted Book value per share (Rs) 382 294 264

(Without considering any gain on unlisted investments)

P̂ rice to Book ratio 2.2 2.3 2.7

Foreign Shareholding ( ) 74 71 74

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SHAREHOLDING PATTERN

(As at March 31, 2013)74%

10%

10%3%3%

Foreign Shareholders - 74%

Individuals - 10%

Financial Institutions, Banks & InsuranceCompanies - 10%

Mutual Funds - 3%

Companies - 3%

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KEY ASSOCIATES AND

SUBSIDIARIES

Associates and Subsidiaries

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HDFC BANK• 22.8% owned by HDFC

• Market Cap US$ 27.5 bn• ADRs listed on NYSE

• 3,062 branches, 10,743 ATMs, 1,845 cities

• Key business areas

– Wholesale banking Retail banking Treasury operations

• Financials (as per Indian GAAP) for the year ended March 31, 2013

– Total net advances as at March 31, 2013, stood at Rs. 2,397.21 bn – an increase of

23% over the previous year.

– Total deposits stood at Rs. 2,962.47 bn – an increase of 20% over the previous year.

– PAT: Rs. 67.26 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


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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 March 31, 2013: Rs. 19.95 bn

• No additional capital injected in FY13

Premium income and growth

• New business premium income for FY13: Rs. 31.1 bn – a growth of 16%• Share of renewal premium to total premium for FY13 is 61% (PY 62%)

Market share

• Ranked 2nd in the private market share in FY13

• Individual business market share of 17.5% (private sector) and 6.7% (overall)

(Source: IRDA)

HDFC STANDARD LIFE INSURANCE COMPANY LTD.(HDFC LIFE)


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Assets Under Management

• As at March 31, 2013, Assets Under Management stood at Rs. 401 bn – anincrease of 24% over March 31, 2012

Products

• Offers 32 individual products and 10 group products along with 10 optional r iders

• Offers 26 fund options across product categories

Distribution

• HDFC group network is used to cross sel l by offer ing customised products

• Operates out of 450 off ices across the country serving over 961 cit ies & a l iaison

off ice in Dubai

• Network of 95,000 financial consultants, corporate agents and other sales

intermediaries

• Strong bancassurance tie-ups with public, private and co-operative banks

HDFC STANDARD LIFE INSURANCE COMPANY LTD.


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Solvency Ratio

• As at March 31, 2013: 217% (as against regulatory requi rement of 150%)

Operating highlights (Year ended March 31, 2013)

• Commission ratio: 5.7% (PY 5.8%)

• Operating expenses: 10.8% (PY 11.7%)

• Individual business conservation ratio: 78% (PY 80%)

Financial highlights

• Indian GAAP prof its for FY13 stood at Rs. 4.5 bn in FY13 (PY Rs. 2.7 bn)

• The defici t as at March 31, 2012 of Rs. 0.6 bn has been completely off -set from thesurplus generated in the Policyholders’ Account. With this, the adjusted IndianGAAP profits for FY13 stood at Rs. 5.1 bn

• As at March 31, 2013: Market Consistent Embedded Value: Rs. 58.7 bn

• Year ended March 31, 2013:

• New business margin on individual business: 17.8% (based on loaded acquisitionexpenses); New business margin after impact of acquisition expenses overrun is13.2%

HDFC STANDARD LIFE INSURANCE COMPANY LTD.


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HDFC ASSET MANAGEMENT• Tie-up with Standard Life Investments (SLI)

• HDFC holds 59.8% of HDFC Asset Management

• HDFC MF manages 42 schemes comprising debt, equity, exchange tradedfund and fund of fund scheme

• Earned a Prof it After Tax of Rs. 3.19 bn for FY13

• Average assets under management (AUM) as at March 31, 2013, stood atRs. 1,021.42 bn which is inclusive of assets under discretionary portfoliomanagement and advisory services

• Average equity assets of HDFC MF as a proport ion of total MF assets is 40%

• Ranked first in the industry on the basis of Average Assets under Management (Source: AMFI)


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HDFC ERGO GENERAL INSURANCE COMPANY LTD.Ownership and Capitalisation

• Paid up share capital as at March 31, 2013: Rs. 5.29 bn

• HDFC holds 73.9% and ERGO 26% of the equity of HDFC ERGO

• Capital injected in FY13: Rs. 222 mn

Premium income and growth

• Gross direct premium for FY13: Rs. 24.91 bn (PY Rs. 18.74 bn) – growth of 33%

Profit After Tax for the year ended March 31, 2013

• PAT: Rs. 1,545 mn (PY loss of Rs. 397 mn)

Combined Ratio as at March 31, 2013

• 91.6% (PY 92.6%) before Motor Pool losses

Solvency

• As at March 31, 2013: 161% (as against regulatory requirement of 140%)


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HDFC ERGO GENERAL INSURANCE COMPANY LTD.

Market share

• Market share of 8.3% (private sector) and 3.8% (overall) in terms of gross

written premium in FY13 (Source: GI Council)

Products

• The company offers insurance products such as:

– Motor, health, travel , home and personal accident in the retail segment

and;

– Property, marine, aviation and liability insurance in the corporate

segment

• Retai l accounts for 58% of the total business.

Distribution

• Operates out of 81 branches across the country

• HDFC group network is used to cross sel l home and health insurance products


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GRUH FINANCE LIMITED (GRUH)• 59.7% owned by HDFC

• Registered housing finance company offering loans to individuals for purchase, construction and renovation of dwelling units

• Also offers loans to the sel f employed segment where formal incomeproofs are not available

• Retai l network of 134 offices across 7 states in India – Gujarat, Maharashtra,

Karnataka, Rajasthan, Madhya Pradesh, Chhattisgarh and Tamil Nadu

• Financials for the year ended March 31, 2013

• Loan portfolio as at March 31, 2013, stood at Rs. 54.38 bn – an increaseof 34% over the previous year

• Gross non-performing assets (NPAs) : 0.32%

• PAT: Rs. 1.46 bn – an increase of 21% over the previous year

• Market Capitalisation: US$ 694 mn


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HDFC PROPERTY FUND• Launched in 2005

• First Scheme: HDFC India Real Estate Fund – Fund corpus : Rs 10 billion – fully invested

– Domestic investors, close ended fund

– Funds managed by HDFC Venture Capital Limi ted

– Exits have commenced; fund corpus has been returned to investors

• HIREF International Fund

– International investors, close ended fund

– Targeted at premier insti tutions and funds across the world interested in

taking an exposure to Indian real estate – Exits have commenced since 2010


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CREDILA FINANCIAL SERVICES

• HDFC holds 89.1% 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

• The company lends to under-graduate and post-graduate students studying

in India or abroad

• As at March 31, 2013

– Cumulative disbursements: Rs. 8.92 bn

– Loan book outstanding as at March 31, 2013: Rs. 7.74 bn – Growth of

76%

– Average loan: Rs. 0.83 mn

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FINANCIALS

Standalone & Consolidated

Financials

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Mar-13 Mar-12 Growth

Sources of Funds (Rs. in billion) (Rs. in billion) (%)

Net Worth^ 250.00 190.18

Borrowings 1,588.28 1,391.28 14

Current Liabilities & Provisions 117.03 93.74

1,955.31 1,675.20 17

Application of Funds

Loans* 1,700.46 1,408.75 21

Investments 136.13 122.07

Current/Fixed Assets 118.72 144.38

1,955.31 1,675.20 17

BALANCE SHEET (Standalone)

^ Net worth as at March 31, 2013 includes an amount of Rs. 32.85 bill ion realised on the conversion of99.9% of the Warrants issued into equity shares.

*Net of loans sold amounting to Rs. 51.75 bn during the year. If these loans were included, the growth inloans would have been higher at 24%.

Loans amount ing to Rs. 16.37 billion were sold dur ing the quarter ended March 31, 2013.

Financials

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PROFIT AND LOSS ACCOUNT (Standalone) Apr-Mar-13 Apr-Mar-12 Growth

(Rs. in billion) (Rs. in billion) (%)Operating Incom e 207.97 170.63 22

Inter es t Expens es 138.91 111.57 25

Net Inter es t Incom e 69.06 59.06 17

Add: Other Incom e 0.35 0.21

Les s : Non Inter es t Expens es 5.39 4.51

Les s : Provision for Contingencies 1.45 0.80

Profit be for e Sale of Inves tm ents & Tax 62.57 53.96

Add: Profit on Sale of Inves tm ents 3.16 2.70

Profit befor e Tax 65.73 56.66 16

Provision for Tax 17.25 15.43

Profit After tax 48.48 41.23 18

Effect i ve tax ra te (%) 26.2% 27.2%

O OSS CCO (S )

Financials

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PROFIT AND LOSS ACCOUNT (Standalone)FY13-Q4

Jan-Mar-13 Jan-Mar-12 Growth(Rs. in billion) (Rs. in billion) (%)

Oper ating Incom e 55.61 48.06 16

Inter es t Expens es 34.40 29.39 17

Net Interes t Incom e 21.21 18.67 14

Add: Other Incom e0.12 0.06

Les s : Non Interes t Expens es 1.13 1.03

Les s : Provision for Contingencies 0.25 0.25

Profit before Sale of Inves tm ents & Tax 19.95 17.45

Add: Profit on Sale of Inves tm ents 1.05 0.79

Profit Before tax 21.00 18.24 15Provis ion for Tax 5.45 4.98

Profit After tax 15.55 13.26 17

Eff ecti ve tax ra te (%) 26.0% 27.3%

BALANCE SHEET

Financials

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Mar-13 Mar-12 Growth(Rs. in billion) (Rs. in billion) (%)

Sources of FundsShareholders' Funds 320.60 244.24

Minority Interest 10.71 8.20

Policy Liabilities 350.86 281.02

Loan Funds 1,636.63 1,424.79 15

Current Liabilities & Provisions 200.68 165.71

2,519.48 2,123.96 19

Application of Funds

Loans* 1,758.18 1,449.34 21

Investments 594.92 486.38

Current Assets, Advances & Fixed Assets 164.53 186.46

Goodwill on Consolidation 1.85 1.78 2,519.48 2,123.96 19

BALANCE SHEET (Consolidated)

*Net of loans sold during the year amounting to Rs. 51.75 billion. If these loans were included, the growth in

loans would have been 25%.

Loans amount ing to Rs. 16.37 billi on were sold dur ing the quarter ended March 31, 2013.

PROFIT AND LOSS ACCOUNT (Consolidated)

Financials

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PROFIT AND LOSS ACCOUNT (Consolidated)Apr-Mar-13 Apr-Mar-12 Growth

(Rs. in billion) (Rs. in billion) (%)

Income from Operations 220.33 182.24 21

Premium Income from Insurance Business 126.50 111.56 13

Other Operating Income from Insurance Business 8.87 5.97

Profit on Sale of Investments 3.78 2.99

Other Income 0.39 0.27

Total Income 359.87 303.03 19

Expenses

Interest and Other Charges 142.95 115.52 24

Staff/Establishment/Other Expenses 10.83 8.09Claims paid pertaining to Insurance Business 52.22 37.98

Commission and Operating Expenses - Insurance Business 22.79 20.94

Other Expenses pertaining to Insurance Business 54.38 56.95

Depreciation/ Provision for Contingencies 2.03 1.38

Total Expenses 285.20 240.86 18

Profit Before Tax 74.67 62.17 20

Tax Expense 20.02 17.27

Net Profit (before Profit of Associates and adjus tment of minority Interest) 54.65 44.90 22

Share of profit of minority shareholder (3.41) (2.08)

Net share of profit of Associates (Equity Method) 15.16 11.81

Profit after Tax attributable to the Group 66.40 54.63 22

Financials

CONSOLIDATED PROFIT AFTER TAX

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Mar-13 Mar-12

(Rs. in billion) (Rs. in billion)

HDFC Profi t After Tax 48.48 41.23

HDFC Standard L i fe 3.27 1.96

HDFC Ergo 1.14 (0.29)

GRUH (net of d ividend) 0.58 0.45

HDFC Bank (net of d ividend) 12.84 10.02

HDFC-AMC (net of d ividend) 1.09 0.98

Others (net of d ividend) (1.00) 0.28

Consol idated Profi t After Tax 66.40 54.63

Contr ib utio n o f subs/associates to the

consol idated PAT 27% 25%

CONSOLIDATED PROFIT AFTER TAX As per Indian GAAP

Note: The Profit After Tax for the year ended March 31, 2013 does not consider the redemption premium on Zero Coupon Debenturesamounting to Rs. 4.38 billion (Previous year Rs. 4.85 billion [net of tax].

CONSOLIDATED EARNINGS

Financials

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CONSOLIDATED EARNINGS As per Indian GAAP

(As at March 31, 2013)

HDFC Consolidated

Return on Equity 22% 24%

Return on Average Assets 2.8% 2.9%

Earnings Per Share (Rs.) 32 44

Profit After Tax (Rs. in billion) 48.48 66.40

Total Assets (Rs. in billion) 1,955.31 2,519.48

Note: The Profit After Tax for the year ended March 31, 2013 does not consider the redemption premium on Zero Coupon Debenturesamounting to Rs. 4.38 billion (Previous year Rs. 4.85 billion [net of tax]. If the redemption premium on Zero Coupon Debentures isconsidered, the EPS is Rs. 29 for HDFC (PY Rs. 25) and Rs. 41 (PY Rs. 34) on a consolidated basis.

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AWARDS & ACCOLADES Top Indian Company in the ‘Financial Institutions/Non-Banking Financial Companies/Financial Services’

category at the Dun & Bradstreet Corporate Awards 2012. The Corporation has won this award sixtimes.

Leading Housing Finance Company Award - CNBC TV18, 2012

HDFC adjudged the ‘Best Home Loan Provider ’ for two consecut ive years – Outlook Money Awards,2011 & 2012

HDFC is the only Indian company to be included in the f if th annual l is t of the ‘ 2011 World’s Most EthicalCompanies’ by Ethisphere Institute, USA

HDFC voted ‘Best Investor Relations’ in India – Finance Asia’s 2011 Annual Poll

HDFC ranked amongst India’s best companies to work for – Great Place to Work Institute®, 2012

Awarded the ‘Trusted Brand’ in the Home Loans Category by Reader ’s Digest for two consecutive yearsin 2011 and 2012

Awarded the ‘Best Foreign Enterprise wi th a Developmental Role in Housing Finance in Afri ca’ – Afri can

Real Estate & Housing Finance Academy

HDFC one of India’s ‘Best Managed Companies’ for two consecut ive years – Finance Asia’s 2010 and2011 Annual Poll

‘ India Shining Star CSR Award’ – for Outstanding CSR in the Banking and Financial Sector – FY11

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hank You

June 11, 2013

Documents

Hdfc Jun13 11