HDFC Q3 PAT seen up 13% at Rs 1012 cr

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HDFC Q3 PAT seen up 13% at Rs 1012 cr

Housing Development Finance Corporation (HDFC), country's one of largest housing finance companies, is expected report a profit after tax of Rs 1,012 crore in third quarter of FY12, a growth of 13% as compared to Rs 891 crore in a year ago period.

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Housing Development Finance Corporation (HDFC), country's one of largest housing finance companies, is expected report a profit after tax of Rs 1,012 crore in third quarter of FY12, a growth of 13% as compared to Rs 891 crore in a year ago period.

During the same period, total income is likely to jump 29% to Rs 4,296 crore versus Rs 3,321 crore and net revenues are seen going up 16% to Rs 1,548 crore from Rs 1,328 crore.

Expectations

·          Loan growth expected to remain healthy at 22%

·          PAT growth to moderate
o         PAT appears subdued due to no large investment gains expected this quarter
o         PAT figure has a further downward bias depending on the sale of investments figure.

·          Spreads likely to remain stable at 2.3%

·          Asset quality

o         Has been healthy for past few quarters & trend likely to continue
·          NIMs should see some improvement on lower funding costs
·          Traction in fee income likely to continue