Housing Development Finance Corporation Ltd

₹ 2,662 -1.81%
27 Jan - close price
About

Housing Development Finance Corporation Limited is an Indian financial services company based in Mumbai, India. It is a major housing finance provider in India. It also has a presence in banking, life and general insurance, asset management, venture capital, realty, education, deposits and education loans

Key Points

Pioneer In Housing Finance In India
In 1977, HDFC Ltd. became the first housing finance company in India [1]. Later, HDFC itself incorporated India’s next three housing finance companies – Gruh Finance [2], SBI Home Finance and Can Fin Homes [3] [4].

  • Market Cap 486,194 Cr.
  • Current Price 2,662
  • High / Low 2,934 / 2,026
  • Stock P/E 32.2
  • Book Value 679
  • Dividend Yield 1.13 %
  • ROCE 7.52 %
  • ROE 12.0 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 31.5%

Cons

  • Stock is trading at 3.92 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 7.69% over past five years.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance - Housing

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
Revenue 13,487 20,285 11,976 13,018 11,728 11,707 11,697 11,657 12,216 11,784 12,300 13,240 15,027
Interest 7,831 7,770 7,662 7,817 7,399 6,833 6,566 6,522 6,573 6,873 6,771 7,556 8,560
1,100 3,337 1,584 1,561 766 1,080 1,181 1,199 943 831 859 1,049 1,004
Financing Profit 4,557 9,179 2,730 3,640 3,563 3,795 3,950 3,937 4,699 4,080 4,670 4,635 5,463
Financing Margin % 34% 45% 23% 28% 30% 32% 34% 34% 38% 35% 38% 35% 36%
7 6 6 2 5 9 10 6 10 9 8 8 9
Depreciation 33 42 43 35 36 52 37 38 39 40 56 54 58
Profit before tax 4,530 9,143 2,692 3,607 3,532 3,753 3,924 3,905 4,671 4,048 4,622 4,590 5,414
Tax % 13% 8% 17% 15% 19% 22% 19% 23% 19% 19% 20% 20% 18%
Net Profit 3,962 8,372 2,233 3,052 2,870 2,926 3,180 3,001 3,780 3,261 3,700 3,669 4,454
EPS in Rs 22.94 48.42 12.89 17.59 15.98 16.25 17.63 16.62 20.91 18.00 20.41 20.22 24.51
Gross NPA % 1.33% 1.36% 1.99% 1.87% 1.81% 1.67% 1.98% 2.24% 2.00% 2.32% 1.91% 1.78% 1.59%
Net NPA % 1.15% 1.06%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
Revenue 12,853 17,333 21,112 24,143 27,401 30,905 33,113 40,689 43,348 58,739 48,150 47,957 52,351
Interest 7,560 11,157 13,891 16,029 17,975 19,375 20,896 23,498 27,838 31,001 28,615 26,739 29,760
432 511 660 696 842 1,420 1,481 3,971 2,355 7,263 4,587 3,832 3,744
Financing Profit 4,861 5,665 6,561 7,418 8,584 10,111 10,736 13,221 13,155 20,474 14,948 17,385 18,848
Financing Margin % 38% 33% 31% 31% 31% 33% 32% 32% 30% 35% 31% 36% 36%
25 22 35 55 70 51 47 18 30 24 26 33 34
Depreciation 19 21 24 32 30 54 56 49 67 148 159 172 208
Profit before tax 4,867 5,666 6,573 7,440 8,624 10,108 10,727 13,190 13,119 20,351 14,815 17,246 18,675
Tax % 27% 27% 26% 27% 31% 30% 31% 17% 27% 13% 19% 20%
Net Profit 3,535 4,123 4,848 5,440 5,990 7,093 7,443 10,959 9,632 17,770 12,027 13,742 15,084
EPS in Rs 24.10 27.91 31.35 34.86 38.04 44.90 46.85 65.39 55.96 102.59 66.67 75.80 83.14
Dividend Payout % 37% 39% 40% 40% 39% 38% 38% 31% 38% 20% 34% 40%
Compounded Sales Growth
10 Years: 11%
5 Years: 8%
3 Years: 3%
TTM: 11%
Compounded Profit Growth
10 Years: 13%
5 Years: 13%
3 Years: 13%
TTM: 17%
Stock Price CAGR
10 Years: 13%
5 Years: 6%
3 Years: 3%
1 Year: 6%
Return on Equity
10 Years: 17%
5 Years: 15%
3 Years: 15%
Last Year: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
293 295 309 312 315 316 318 335 344 346 361 363 363
Reserves 17,023 18,722 24,521 27,643 30,655 33,754 39,277 64,879 77,011 85,812 108,115 119,581 123,077
115,112 139,128 158,828 183,973 208,599 237,763 279,732 319,716 366,214 419,102 441,365 499,681 529,034
6,814 9,375 11,703 13,504 14,383 17,044 17,980 13,979 15,208 18,834 17,758 21,237 27,309
Total Liabilities 139,242 167,520 195,361 225,432 253,952 288,877 337,306 398,910 458,778 524,094 567,599 640,862 679,783
234 234 238 280 677 665 1,000 1,040 973 2,239 2,196 4,130 4,266
CWIP -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0
Investments 11,832 12,207 13,613 13,913 14,294 15,345 20,053 30,717 46,240 64,944 68,637 68,592 75,048
127,176 155,079 181,510 211,239 238,980 272,867 316,254 367,153 411,565 456,910 496,765 568,141 600,469
Total Assets 139,242 167,520 195,361 225,432 253,952 288,877 337,306 398,910 458,778 524,094 567,599 640,862 679,783

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-17,212 -23,755 -19,840 -21,469 -25,469 -27,405 -36,119 -55,904 -41,166 -43,817 -28,437 -44,410
-527 180 -867 152 199 853 -1,398 -3,587 -9,952 -5,854 -8,500 -14,572
18,644 22,695 21,531 23,628 22,392 26,301 39,088 56,506 50,246 52,452 34,565 58,777
Net Cash Flow 905 -880 825 2,311 -2,878 -250 1,571 -2,985 -871 2,781 -2,372 -204

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
ROE % 22% 23% 22% 21% 20% 22% 20% 21% 14% 22% 12% 12%

Shareholding Pattern

Numbers in percentages

4 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
70.88 70.17 70.00 71.95 72.78 72.22 71.95 72.14 69.19 67.75 67.77 67.22
17.84 18.29 18.45 17.12 16.13 16.47 16.85 16.59 18.99 21.02 20.91 21.57
0.20 0.22 0.22 0.22 0.22 0.14 0.14 0.14 0.14 0.14 0.13 0.13
11.08 11.32 11.33 10.72 10.88 11.18 11.06 11.13 11.69 11.09 11.18 11.07

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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