HDFC Q1 profit after tax seen up 22% at Rs 850 cr
India's leading mortgage lender Housing Development Finance Corporation (HDFC) is set to announce 22% growth in profit after tax of Rs 850 crore for the quarter ended April-June 2011 as against Rs 694 crore in same quarter the previous year.
July 08, 2011 / 15:51 IST
India's leading mortgage lender Housing Development Finance Corporation (HDFC) is set to announce 22% growth in profit after tax of Rs 850 crore for the quarter ended April-June 2011 as against Rs 694 crore in same quarter the previous year, according to CNBC-TV18 estimates.
Net revenues are likely to go up by 18% to Rs 1280 crore in quarter ended June 2011 as against Rs 1082 crore in same period the last year.Other expectationsPAT is likely to include an exceptional item.Loan growth is expected to be around 20% in Q1FY12. Spreads are likely to remain about 2%, which could see marginal contraction on quarter-on-quarter basis (Q4FY11 spreads stood at 2.33%)Increase in prime lending rate by 1.5% in last year will offset impact of higher borrowings costs.Net interest margins (NIMs) could see compression by 70-80 bps on quarter-on-quarter basis (Q4FY11 NIMs stood at 4.39%).Non-performing loans (NPLs) is likely to remain below 1%Guidance given by management in Q4FY11Company expected spreads to be stable between 2.15%
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