External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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Housing Development Finance Corporation / Equity Bottom-Up

Housing Development Finance Corporation (HDFC IN)

<p>HDFC reported 2QFY22 PAT (in-line) of INR37.8b, up 32% YoY / 26% QoQ. The increase was primarily driven by lower credit costs of 31bps (which stood at INR4.5b, against the expectation of INR6b). NII (in-line) grew 14% YoY to INR41.1b. Reported spreads stood at 2.29% and were stable QoQ. Assignment income was lower than expected and stood at INR1.3b v/s our estimate of INR4.1b. Gross Stage 2 and Stage 3 declined to 8.67% v/s 9.24% a quarter ago....</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

HDFC reported 2QFY22 PAT (in-line) of INR37.8b, up 32% YoY / 26% QoQ. The increase was primarily driven by lower credit costs of 31bps (which stood at INR4.5b, against the expectation of INR6b). NII (in-line) grew 14% YoY to INR41.1b. Reported spreads stood at 2.29% and were stable QoQ. Assignment income was lower than expected and stood at INR1.3b v/s our estimate of INR4.1b. Gross Stage 2 and Stage 3 declined to 8.67% v/s 9.24% a quarter ago....Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Healthy core performance in 2Q; disbursements very strong

<p>HDFC's core PBT grew 12% YoY to INR32.2b (5% beat). NII (ex-assignment income) at INR41.3b was 2% above our estimate. On the other hand, provisions at INR6.9b were lower than our est. of INR8b. Better-than-expected...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

HDFC's core PBT grew 12% YoY to INR32.2b (5% beat). NII (ex-assignment income) at INR41.3b was 2% above our estimate. On the other hand, provisions at INR6.9b were lower than our est. of INR8b. Better-than-expected...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Core operating profit in-line; commentary suggests healthy recovery from second wave impact

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

<p>What should investors do? HDFC Ltd's share price has grown ~80% over the past five years. Market leadership, funding advantage and adequate capital lead us to remain positive on fundamentals....</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

What should investors do? HDFC Ltd's share price has grown ~80% over the past five years. Market leadership, funding advantage and adequate capital lead us to remain positive on fundamentals....Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HDFC Ltd: Steady Operations; Business to Pick up from Here On

India

Housing Development Finance Corporation (HDFC) was an Indian private-sector mortgage lender, widely recognized as the largest housing finance company in India, offering long-term home loans to individuals and corporations for housing purposes. It also provided construction finance to housing development businesses. The company had diversified interests through its associate and subsidiary companies in banking, life and general insurance, asset management, venture capital, and deposit services. HDFC was incorporated in 1977 and headquartered in Mumbai, India. On July 1, 2023, HDFC merged with HDFC Bank, its subsidiary.

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Housing Development Finance Corporation (HDFC IN)

Healthy core performance in 2Q; disbursements very strong

HDFC reported 2QFY22 PAT (in-line) of INR37.8b, up 32% YoY / 26% QoQ. The increase was primarily driven by lower credit costs of 31bps (which stood...

Motilal Oswal

Core operating profit in-line; commentary suggests healthy recovery from second wave impact

HDFC's core PBT grew 12% YoY to INR32.2b (5% beat). NII (ex-assignment income) at INR41.3b was 2% above our estimate. On the other hand, provisions...

Motilal Oswal

HDFC Ltd: Steady Operations; Business to Pick up from Here On

What should investors do? HDFC Ltd's share price has grown ~80% over the past five years. Market leadership, funding advantage and adequate capital...

ICICI Securities Limited

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