HDFC Ltd assigns 19% higher loans worth Rs 8,892 cr in Q3 ending Dec 2022

Mortgage lender HDFC Ltd on Tuesday said it has assigned (sold) 19 per cent higher loans to the tune of Rs 8,892 crore in the third quarter ended December 2022

HDFC
Press Trust of India New Delhi
2 min read Last Updated : Jan 03 2023 | 11:20 PM IST

Mortgage lender HDFC Ltd on Tuesday said it has assigned (sold) 19 per cent higher loans to the tune of Rs 8,892 crore in the third quarter ended December 2022.

The corporation had assigned loans amounting to Rs 7,468 crore in the corresponding quarter of the previous year, HDFC Ltd said in a regulatory filing.

"All the loans assigned during the quarter ended December 31, 2022, were to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank," it added.

Loans sold in the preceding 12 months amounted to Rs 35,937 crore against Rs 27,591 crore in the year-ago period.

Gross income from the dividend for the quarter ended December 31, 2022, was Rs 482 crore compared to Rs 195 crore a year ago, it added.

During the December 2022 quarter, the profit on the sale of investments was nil, the mortgage lender said.

Last April, the country's largest private lender HDFC Bank agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40 billion, creating a financial services titan.

The proposed entity will have a combined asset base of around Rs 18 lakh crore. The merger is expected to be completed by the second or third quarter of FY24, subject to regulatory approvals.

Once the deal is effective, HDFC Bank will be 100 per cent owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the entity.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :HDFC Ltdfinance sectorFinance Ministry

First Published: Jan 03 2023 | 11:20 PM IST

Next Story