The country's largest mortgage lender, HDFC, on Friday, April 7, reported net profit of ₹ 3,180 crore in the quarter ended March 2021, which marked an increase of 42 percent from ₹ 2,233 crores in the same quarter last year. Its interest income, however, declined 5 percent to ₹ 10,446 crores from ₹ 10,963 crores in the corresponding period a year ago.

                              


HDFC's net interest income (NII) for the quarter ended March 31, 2021 stood at  4,065 crore compared to  3,564 crores in the previous year, representing a growth of 14 per cent. NII for the year ended March 31, 2021 stood at  15,172 crore compared to  12,904 crore in the previous year, representing a growth of 18 per cent.

c in terms individual receipts, approvals and disbursements. Growth in home loans was seen in both, the affordable housing segment as well as high-end properties," HDFC said in a press release.

The average size of individual loans disbursed during the year ended March 31, 2021 stood at ₹ 29.5 lakh compared to ₹ 27 lakh in the previous year. There was an uptick in the average ticket size during the quarter ended March 31, 2021 to ₹ 31.4 lakh, attributable to the demand for higher end properties, especially in the metro cities. As at March 31, 2021, the loans on an assets under management (AUM) basis stood at ₹ 5,69,894 crore as against ₹ 5,16,773 crore in the previous year, the country's largest mortgage lender said.

Overall collection efficiency ratios for individual loans have improved, nearing pre-COVID levels. The collection efficiency for individual loans in the month of March 2021 stood at 98.0 per cent compared to 96.3 per cent in the month of September 2020.