External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.  

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External broker reports(aggregated public sources)

HDFC Bank (HDFCB): Robust Deposit Growth Despite Tough Environment

HDFC Bank ("HDFCB"): Steady Performance in Line with Expectation

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>HDFCB saw steady quarter; core PAT was 1.5% better to PLe owing to lower opex and provisions while loan growth and NIM were broadly in-line.</li><li>Overall PCR fell by 2% QoQ to 68%, but PCR ex-agri was stable QoQ at 71%.</li><li>Focus on reducing LDR continues as despite CRB/retail growth of 2.7%/2.1% QoQ, IBPC sell-down of Rs1.4trn in Q3FY25 remains elevated.</li></ul><p><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></p>

HDFCB saw steady quarter; core PAT was 1.5% better to PLe owing to lower opex and provisions while loan growth and NIM were broadly in-line.Overall PCR fell by 2% QoQ to 68%, but PCR ex-agri was stable QoQ at 71%.Focus on reducing LDR continues as despite CRB/retail growth of 2.7%/2.1% QoQ, IBPC sell-down of Rs1.4trn in Q3FY25 remains elevated.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 Bank - Margins and PSLC Cost Remain Key Monitorables