Housing Development Finance Corporation's (HDFC) fourth quarter profit is seen rising sharply 35 percent year-on-year to Rs 2,515 crore compared to Rs 1,862 crore in year-ago period, driven largely by stake sale in HDFC Life. The housing finance company will announce quarterly earnings on May 2.
Net interest income, the difference between interest earned and interest expended, may grow 6 percent to to Rs 2,497 crore in January-March quarter compared to Rs 2,355 crore in same period last year due to slow growth in loan book.
Analysts expect loan growth around 14 percent for the quarter and net interest margin to be under pressure.
Outlook on growth for FY17 will be closely watched.
HDFC, on April 1, said it had completed 9 percent stake sale in HDFC Standard Life Insurance Company to its British joint venture partner Standard Life for around Rs 1,700 crore.
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