HDFC net up 19% on retail loans

India’s biggest mortgage lender Housing Development Finance Corporation (HDFC) on Monday posted a 19% year-on-year rise in net profit at Rs. 1,151 crore for the July-September quarter against Rs. 971 crore in the corresponding quarter last year, driven by healthy growth in retail loans.

India’s biggest mortgage lender Housing Development Finance Corporation (HDFC) on Monday posted a 19% year-on-year rise in net profit at Rs. 1,151 crore for the July-September quarter against Rs. 971 crore in the corresponding quarter last year, driven by healthy growth in retail loans.

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“The growth in the individual loan book inclusive of loans sold is 31%, whereas the non-individual loan book grew by 19%,” said Keki Mistry, vice-chairman and chief executive officer, HDFC. “We expect loan book to grow 18-20% in the fiscal year.”