Housing Development Finance Corporation Ltd

₹ 2,681 -0.29%
25 Nov - close price
hdfc.com BSE: 500010 NSE : HDFC
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].

Website BSE NSE
  • Market Cap ₹ 487,837 Cr.
  • Current Price ₹ 2,681
  • High / Low ₹ 2,934 / 2,026
  • Stock P/E 20.2
  • Book Value ₹ 1,016
  • Dividend Yield 1.12 %
  • ROCE 8.60 %
  • ROE 13.4 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 21.1%

Cons

  • Stock is trading at 2.64 times its book value
  • Company has low interest coverage ratio.
  • Tax rate seems low
  • 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

Consolidated Figures in Rs. Crores / View Standalone

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 32,824 29,072 16,600 29,954 34,083 39,259 35,738 30,991 38,591 31,298 35,047 23,183 43,917
Interest 8,221 7,885 7,800 7,942 7,518 6,954 6,666 6,624 6,684 6,995 6,925 7,688 8,762
13,715 18,171 5,414 18,715 22,219 27,172 24,212 19,875 27,228 19,562 22,373 10,997 29,749
Financing Profit 10,888 3,016 3,386 3,296 4,346 5,133 4,860 4,492 4,679 4,740 5,748 4,499 5,406
Financing Margin % 33% 10% 20% 11% 13% 13% 14% 14% 12% 15% 16% 19% 12%
1,228 1,653 1,650 1,607 1,650 1,769 1,933 1,891 2,189 2,470 2,461 2,195 2,965
Depreciation 54 68 84 86 89 91 89 87 88 90 153 150 150
Profit before tax 12,062 4,601 4,951 4,816 5,906 6,811 6,704 6,295 6,779 7,121 8,056 6,544 8,221
Tax % 11% 9% 12% 16% 15% 16% 15% 16% 16% 13% 14% 15% 14%
Net Profit 10,749 4,196 4,342 4,059 5,035 5,724 5,669 5,311 5,670 6,169 6,892 5,574 7,043
EPS in Rs 60.16 22.18 23.76 20.83 25.61 28.76 29.66 27.92 29.08 32.23 35.62 29.26 36.06
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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 25,765 30,276 35,948 40,753 48,316 53,223 61,034 79,474 95,694 101,726 139,034 135,926 133,445
Interest 7,876 11,552 14,296 16,608 18,710 20,296 21,953 24,718 29,525 32,109 29,081 27,230 30,370
12,623 12,484 14,170 15,314 19,516 21,228 26,377 44,714 51,819 48,983 92,319 89,037 82,682
Financing Profit 5,266 6,240 7,483 8,831 10,089 11,699 12,704 10,042 14,349 20,633 17,634 19,659 20,394
Financing Margin % 20% 21% 21% 22% 21% 22% 21% 13% 15% 20% 13% 14% 15%
28 27 39 61 74 34 53 6,282 7,891 5,816 6,959 9,012 10,091
Depreciation 49 51 54 47 47 121 108 116 141 256 355 419 542
Profit before tax 5,244 6,217 7,467 8,846 10,117 11,613 12,650 16,207 22,099 26,193 24,237 28,252 29,942
Tax % 29% 28% 27% 27% 31% 31% 32% 19% 20% 13% 15% 15%
Net Profit 4,613 5,670 6,982 8,403 9,245 10,718 11,848 13,111 17,581 22,826 20,488 24,042 25,678
EPS in Rs 30.87 36.98 42.94 50.93 55.65 64.50 69.56 71.48 94.29 123.75 103.88 124.62 133.17
Dividend Payout % 29% 30% 29% 27% 27% 26% 26% 28% 22% 17% 22% 24%
Compounded Sales Growth
10 Years: 16%
5 Years: 17%
3 Years: 12%
TTM: -8%
Compounded Profit Growth
10 Years: 15%
5 Years: 15%
3 Years: 12%
TTM: 16%
Stock Price CAGR
10 Years: 13%
5 Years: 9%
3 Years: 5%
1 Year: -2%
Return on Equity
10 Years: 17%
5 Years: 15%
3 Years: 15%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 20,897 23,921 31,581 37,263 44,757 50,534 59,690 91,488 111,389 126,133 156,045 179,184 184,306
118,056 142,479 163,663 190,602 217,357 249,418 293,795 336,416 386,755 425,368 447,011 507,460 539,820
36,009 45,641 56,225 68,712 87,078 97,519 120,319 138,320 162,321 177,936 225,814 279,224 289,253
Total Liabilities 175,255 212,336 251,778 296,889 349,507 397,786 474,122 566,560 660,810 729,782 829,230 966,230 1,013,742
808 842 851 1,002 1,470 1,568 2,266 2,349 2,310 5,476 5,312 12,745 12,758
CWIP 3 7 32 21 9 19 54 23 24 59 47 39 4
Investments 41,597 48,639 59,492 72,914 93,782 104,721 132,855 172,218 210,704 243,248 302,481 352,484 126,710
132,848 162,849 191,403 222,951 254,245 291,478 338,947 391,969 447,771 481,000 521,390 600,962 874,270
Total Assets 175,255 212,336 251,778 296,889 349,507 397,786 474,122 566,560 660,810 729,782 829,230 966,230 1,013,742

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-11,402 -17,534 -11,969 -10,735 -9,118 -19,710 -14,173 -57,928 -44,301 -26,801 -27,276 -44,028
-7,857 -6,275 -10,212 -12,983 -18,552 -9,309 -27,236 -7,954 -10,316 -9,874 -6,958 -19,887
19,801 23,194 23,174 25,719 24,820 29,111 43,127 63,344 54,986 38,690 31,665 63,541
Net Cash Flow 542 -615 992 2,000 -2,850 92 1,718 -2,538 369 2,015 -2,570 -374

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 % 23% 24% 24% 23% 21% 21% 20% 16% 16% 18% 13% 13%

Shareholding Pattern

Numbers in percentages

10 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
72.75 70.88 70.17 70.00 71.95 72.78 72.22 71.95 72.14 69.19 67.75 67.77
16.47 17.84 18.29 18.45 17.12 16.13 16.47 16.85 16.59 18.99 21.02 20.91
0.18 0.20 0.22 0.22 0.22 0.22 0.14 0.14 0.14 0.14 0.14 0.13
10.60 11.08 11.32 11.33 10.72 10.88 11.18 11.06 11.13 11.69 11.09 11.18

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