HDFC Q3 today; will demonetisation impact loan growth?
Analysts at Kotak Institutional Equities said, We expect moderation in HDFCs loan growth, 15% growth in AUMs (asset under management) as compared to 17% in 2QFY17. NIM will expand due to lowering of bulk borrowing costs. We do not expect any major rise in NPLs.
Housing Development Finance Corp (HDFC) is all set to announce its third quarter result for December 31, 2016 on Monday.
During the last quarter (Q2FY17), HDFC reported consolidated net profit of Rs 1884.29 crore, which grew by 18.76% against Rs 1586.60 crore in the similar period of the previous year.
Analysts at Kotak Institutional Equities said, "We expect moderation in HDFC’s loan growth, 15% growth in AUMs (asset under management) as compared to 17% in 2QFY17. NIM will expand due to lowering of bulk borrowing costs. We do not expect any major rise in NPLs."
They added, "In October, HDFC reported developer loan NPLs of Rs 8.7 billion (0.3% of loans under management); these loans have been sold to ARC and will be provided from extra provisions made in the previous quarters. "
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