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HDFC Q2 profit jumps 22 percent to Rs.807.54 crore

Mumbai, Oct 18 (IANS) Housing Development Finance Corporation (HDFC) said Monday its net profit rose 21.62 percent to Rs.807.54 crore in the second quarter of this fiscal, led by strong demand for housing loans.

The company posted a profit after tax of Rs.807.54 crore for the quarter ended Sep 30, 2010 as compared to Rs.663.94 crore during the same quarter last year, HDFC said in a statement.

HDFC total income increased to Rs.2970.22 crore in the second quarter of fiscal 2010-11 from Rs.2850.23 crore recorded in the corresponding quarter last year.

‘As at Sep 30, 2010, the loan book stock stood at Rs.1,06,287 crore as against Rs.89,519 crore in the previous year. Loans sold during the preceding 12 months amounted to Rs.4,858 crore. The growth in loan book inclusive of loans sold is 24 percent,’ HDFC Chairman Deepak Parekh said in a statement.

The company, whose main business is to provide loans for purchase or construction of residential houses, has posted Rs.1,502.13 crore profit in the first six months of this fiscal as compared with Rs.1,228.86 crore during the same period in fiscal 2009-10.

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