HDFC’s financial results for period April-December, 2006

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The Board of Directors of Housing Development Finance Corporation Limited (HDFC) announced its results for the third quarter of the financial year 2006-2007, following its meeting on Wednesday, January 24, 2007 in Mumbai. The accounts have been subject to limited review by the Corporation's statutory auditors in line with the regulatory guidelines.

 

FINANCIAL RESULTS

 

For the nine-month period ended December 31, 2006, HDFC reported a profit before tax amounting to Rs. 1,291.66 crore as compared to Rs. 1,043.34 crore during the corresponding period in the previous year - an increase of 24%. After providing Rs. 271.33 crore for taxes, the profit after tax increased by 23% to Rs. 1,020.33 crore as compared with Rs. 830.78 crore in the corresponding period last year.

 

For the quarter ended December 31, 2006, HDFC's profit before tax amounted to Rs. 444.82 crore as against Rs. 352.30 crore in the corresponding quarter of the previous year - an increase of 26%.  After providing Rs. 89.33 crore for taxes, the profit after tax for the quarter ended December 31, 2006 increased by 25% to Rs. 355.49 crore as against Rs. 284.52 crore in the corresponding quarter last year.

 

TOTAL ASSETS

 

As at December 31, 2006, the total assets of HDFC stood at Rs. 58,888 crore as against Rs. 47,773 crore as at December 31, 2005 - an increase of 23%.

 

LENDING OPERATIONS

 

Approvals and Disbursements

 

Loan approvals during the nine-month period ending December 31, 2006 amounted to Rs. 22,666 crore as against Rs. 17,777 crore in the corresponding period last year, representing a growth of 28%.  Loan disbursements during the nine-month period ending December 31, 2006 amounted to Rs. 17,465 crore as against Rs. 13,805 crore during the same period in the previous year, representing an increase of 27%.

 

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