“Individual loan segment is driving demand,” said Keki Mistry vice chairman and chief executive officer, HDFC. “The individual loan book witnessed robust growth of around 31%, which includes addition of loans sold during this period,” said Mistry.
Individual loans constitute 68% of HDFC’s total loan book.
The total loan book the mortgage lender stood at Rs. 160,941 crore by the end of the December quarter, up 22% compared to Rs. 1,32,208 crore a year ago.
The company also witnessed an improvement in the asset quality with gross non-performing assets (NPAs) at 0.75% in the third quarter compared to 0.82% a year ago.
“This is the 32nd consecutive quarter end at which the percentage of non-performing loans has been lower than the year-ago period,” said Mistry.
Non-performing loans of the individual portfolio stood at 0.6% while that of the non-individual portfolio stood at 0.9%.
On plans to list its life insurance business, Mistry said the company will take a call after the new Insurance Bill is passed by Parliament.