HDB Financial files DRHP

November 1, 2024 admin Leave a reply Post Comment

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What is the business of HDB Financial?

HDB Financial Services is one of the leading, diversified retail-focused NBFCs in India in terms of Total Gross Loan book size, according to the CRISIL Report. The Company is categorized as an Upper Layer NBFC (NBFC-UL) by the RBI. It offers a large portfolio of lending products that cater to a growing and diverse customer base through a wide omni-channel distribution network. Its lending products are offered through its three business verticals: Enterprise Lending, Asset Finance and Consumer Finance. It believes that the success of its business model and operating philosophy is evidenced by its strong and sustained growth and profitability metrics. Its Total Gross Loans stood at ₹986.2 billion as at September 30, 2024, reflecting a CAGR of 20.93% between March 31, 2022 to September 30, 2024. Its assets under management stood at ₹902.3 billion as at March 31, 2024 reflecting a CAGR of 21.18% between Fiscal 2022 and Fiscal 2024. In Fiscal 2024, it generated a profit after tax of ₹24.6 billion, which reflected a CAGR of 55.98% between Fiscal 2022 and Fiscal 2024. Its Total Gross Loans growth, operating efficiencies and strong asset quality helped it deliver Return on Average Assets of 3.03% and Return on Average Equity of 19.55% for Fiscal 2024, which is one of the highest amongst its NBFC peers, according to the CRISIL Report.

It began its journey in 2007 as a subsidiary of HDFC Bank, which is the largest private sector bank in India in terms of total assets of ₹36,880.7 billion as at September 30, 2024, with businesses (including those of its subsidiaries) spanning across retail and commercial banking, asset management, life insurance, general insurance and broking.

Its omni-channel “phygital” distribution model combines a large branch network, in-house tele-calling teams and various external distribution networks and channel partners. As at September 30, 2024, it had a pan-India network of 1,772 branches in 1,162 towns across 31 States and Union Territories, with over 80% of our branches located outside the 20 largest cities in India. Its network of branches is complemented by its external distribution channel partnerships with over 80 brands and original equipment manufacturers (“OEMs”) and external distribution networks with over 140,000 retailers and dealer touchpoints as at September 30, 2024.

Its tech-enabled operating processes have contributed to maintaining a strong asset quality and low Credit Costs despite its fast growing customer base and distribution network. This is evidenced by its GNPA and NNPA ratios of 2.10% and 0.83%, respectively, as at September 30, 2024 and Credit Costs Ratio (annualised) of 1.79% for the six-month period ended September 30, 2024. It remains focused on ensuring that it employs highly conservative policies for provisioning, with 66.82% of Provisioning Coverage Ratio as at March 31, 2024, one of the highest amongst the peers according to the CRISIL Report and a 3.88% provisioning on its Total Gross Loans, as at March 31, 2024.

For more information, click www.hdbfs.com

HDB Financial IPO GMP grey market premium, review, Subscription, allotment, listing estimate

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HDB Financial IPO GMP grey market premium, review, Subscription, allotment, listing estimate