HDFC assigns Rs 7,468 cr loans in Dec quarter, sees 5.5 pc growth

Housing Development Finance Corporation (HDFC), the country’s largest mortgage lender, on Monday said it assigned loans of Rs 7,468 crore in the quarter ended December 2021, up by 5.5 per cent from a year ago.

It had assigned loans amounting to Rs 7,076 crore in the corresponding December 2020 quarter of the previous financial year.

All loans assigned during the quarter ended December 31, 2021, were to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between HDFC Bank and the Corporation, it said in a regulatory filing. Loans sold in the preceding 12 months amounted to Rs 27,591 crore as against Rs 16,956 crore, it said. The company’s gross income from the dividend for the quarter ended December 31, 2021, was Rs 195 crore (previous year Rs 2 crore) and the profit on the sale of investments was nil (Rs 157 crore a year ago), it further said.

HDFC said that with effect from December 1, 2021, it is required to maintain a liquidity coverage ratio (LCR) of a minimum of 50 per cent.

“As at December 31, 2021, for the purpose of LCR, the Corporation is carrying approximately Rs 27,000 crore of unencumbered high-quality liquid assets (HQLA), held entirely in government securities.

“Further, approximately Rs 13,000 crore of HQLA is held for statutory liquidity ratio (SLR) requirements against deposits andRs 15,000 crore is being maintained for general liquidity purposes,” HDFC said. In aggregate, HDFC has liquidity buffers of aroundRs 55,000 crore, the mortgage lender said.

Shares of HDFC on Monday closed at Rs 2,635.45 apiece on the BSE, up 1.88 per cent from the previous close.