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Informist, Monday, Nov. 10, 2025

 

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--HUDCO: Net credit impaired assets ratio 0.07% on Sept 30 vs 0.31% year ago 
--HUDCO: Gross credit impaired assets ratio 1.21% on Sept 30 vs 2.04% yr ago 
--HUDCO: Provision coverage ratio at 94.55% as on Sept 30 vs 85.60% year ago 
--HUDCO: Provisions as per expected credit loss INR 16.80 bln as on Sept 30 
--HUDCO Apr-Sept total income INR 61.96 bln vs INR 47.23 bln year ago 
--HUDCO Apr-Sept net profit INR 13.40 bln vs INR 12.46 bln year ago 
--HUDCO interim dividend record date is Nov 19 
--HUDCO to pay INR 1 per share interim dividend 
--HUDCO Jul-Sept total income INR 32.51 bln vs INR 25.26 bln year ago 
--HUDCO Jul-Sept net profit INR 7.10 bln vs INR 6.89 bln year ago 
--HUDCO Jul-Sept net profit INR 7.10 bln

 

By Krity Ambey
 

NEW DELHI – Despite a strong growth in interest income and reversal of impairments, state-owned Housing and Urban Development Corp. Ltd. reported only a marginal growth in net profit as the lender's finance cost weighed on its performance in the September quarter.

 

The company's net profit rose only 3% on year to INR 7.10 billion in the reporting quarter. Sequentially, HUDCO's bottom line was up nearly 13%.

 

The financier reported a reversal of impairment on financial instruments and write-offs to the tune of INR 170 million in the September quarter, lower than INR 2.33 billion in the corresponding period a year ago. In its note to accounts, the company said it had resolved one non-performing asset in Jul-Sept and recovered INR 129.40 million, resulting in a reversal. It also mentioned that as of Sept. 30, the non-banking finance company had INR 16.80 billion worth of provisions for impaired loans as per expected credit loss, as per Indian Accounting Standards requirements.

 

The lender's asset quality improved in the September quarter. The net non-performing assets ratio recovered to 0.07% as of Sept. 30 from 0.09% on Jun. 30 and 0.31% on Sept. 30, 2024. Its gross non-performing asset ratio also improved to 1.21% as on Sept 30 from 1.34% at the end of trailing quarter and 2.04% on Sept. 30, 2024. The company's provision coverage ratio was at 94.55% as on Sept. 30.

 

HUDCO's total expenses for the September quarter were INR 22.96 billion, 51% higher on year. Out of which, the NBFC's finance costs jumped 29% on year to INR 21.47 billion in the latest quarter. The company's total income also rose 29% on year to INR 32.51 billion. Meanwhile, interest income grew 30% to INR 32 billion.

 

Shares of HUDCO, which released its September quarter results after market hours, closed 1.3% higher Monday at INR 233.79 on the National Stock Exchange. The company has also declared an interim dividend of INR 1 per share with Nov. 19 being the record date.

 

The NBFC's net profit for the first half of the financial year rose 7.5% to INR 13.40 billion, as its total income jumped 31% to nearly INR 62 billion. HUDCO had an impairment reversal of INR 1.20 billion in Apr-Sept, lower than INR 2.52 billion in the year-ago period.  End

 

 

Edited by Akul Nishant Akhoury

 

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