HDFC Twins Gain Upto 5% On Positive Q2 Update

On Tuesday, shares of Housing Development Finance Corp Ltd rose close to 5 percent to a high of Rs 1,874.25 and shares of HDFC Bank climbed 2.4 percent to Rs 1,141, a seven-month high, after the two financial institutions provided their quarterly update ahead of the Q2 earnings results.

HDFC Bank Q2 Update

• Advances aggregated to approximately Rs 10,370 billion as of 30 September 2020, that is around 16% higher than Rs 8,970 billion as of 30 September 2019 and 3% higher Rs 10,033 billion as of 30 June 2020.
• Deposits aggregated to approximately Rs 12,290 billion as of 30 September 2020: around 20% growth when compared to Rs 10,216 billion as of 30 September 2019 and around 3% higher from Rs 11,894 billion as of 30 June 2020.
• CASA ratio stood at around 42% as of 30 September 2020 against 39.3% as of 30 September 2019 and 40.1% as of 30 June 2020.
• During the July-September quarter, HDFC Bank purchased loans aggregating Rs 30.26 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited.

Housing Development Finance Corp (HDFC) Q2 Update

• The number of loan applications received during the period grew by 12% over the corresponding quarter of the previous year.
• During the quarter ended 30 September 2020, individual loan approvals grew by 9% compared to the corresponding quarter of the previous year.
• For the quarter ended 30 September 2020, individual loan disbursements were at 95% of the level in the corresponding quarter of the previous year.
• The month of September 2020 has seen the strongest recovery since the outbreak of the pandemic and the levels have exceeded the levels in the corresponding month of the previous year.
• 21% growth in receipts (numbers) in September 2020 from the same month last year.
• 31% growth in approvals (value) in September 2020 from the same month last year.
• 11% growth in disbursals (value) in September 2020 from the same month last year.