Housing Development Finance Corporation (HDFC) said that profit on sale of investments was Rs 263 crore in Q1 FY22 as compared with Rs 1,241 crore in Q1 FY21.
The profit on sale of investments was on account of the corporation s entire stake sale in its associate company, Good Host Spaces (Rs 54 crore) and part stake sale of HDFC ERGO General Insurance Company (Rs 209 crore).
As at 30 June 2021, HDFC s equity shareholding in HDFC ERGO General Insurance Company stood at 49.98%.
Gross income from dividend for the quarter ended 30 June 2021 was Rs 16 crore as against Rs 298 crore in the corresponding quarter last fiscal.
HDFC said that during the quarter ended 30 June 2021, the corporation assigned loans to HDFC Bank amounting to Rs 5,489 crore compared to Rs 1,376 crore in the corresponding quarter of the previous year. The loans were assigned as per the buyback option embedded in the home loan arrangement between the corporation and HDFC Bank.
HDFC Bank Ltd increases Q1FY22 advances by 1 3% QoQ to Rs 11,475 billion
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HDFC Bank rose 1.20% to Rs 1,498.45 after the private lender s advances aggregated to approximately Rs 11,47,500 crore as of 30 June 2021, rising around 14.4% over Rs 10,03,300 crore as of 30 June 2020.The bank s advances grew around 1.3% as of 30 June 2021 from Rs 11,32,800 crore as of 31 March 2021.
As per the Basel 2 segment classification among the bank s advances, the domestic retail loans as of 30 June 2021 grew by around 10.5% over 30 June 2020 and remained at a level similar to that as of 31 March 2021. The domestic wholesale loans as of 30 June 2021 grew by around 17% over 30 June 2020 and around 2% over 31 March 2021.
Among loan categories, the retail loans grew by around 9% over 30 June 2020 and were lower by around 1% as compared to 31 March 2021. The commercial & rural banking loans grew by around 25% over 30 June 2020 and around 4% over 31 March 2021; and other wholesale loans grew by around 10.5% over 30 June 2020 and around 1.5% over 31 March 2021.