Housing Development Finance Corporation Limited

[Pages:49]Housing Development Finance Corporation Limited

CONTENTS

? HDFC Snapshot ? Mortgage Market in India ? Operational and Financial Highlights: Mortgages ? Valuation and Shareholding ? Financials: Standalone ? Key Subsidiaries and Associates ? Financials: Consolidated

2

HDFC SNAPSHOT

HDFC Snapshot

WHO WE ARE...

? Incorporated in 1977 as the first specialised mortgage company in India

? Now a Financial Conglomerate with interests beyond mortgages

? 74% shares held by Foreign Investors

Market capitalisation*: US$ 49 bn

21.4%

51.5%

52.8%

50.5%

Market capitalisation*: US$ 91 bn

ADRs listed on NYSE

Market capitalisation*: US$ 11 bn

Ranks amongst top 3 private players in individual and group segment

Market capitalisation*: US$ 5 bn

Largest AMC with total AUM of US$ 50 bn

3rd largest private player in the general insurance industry

100%

90.8%

51.7%

100%

Financial services distribution company

Sources more than half of HDFC's home loans

India's first dedicated education loan company with outstanding

loan book of US$ 732 mn

Market capitalisation*: US$ 3 bn

Affordable housing finance company#

HDFC Capital Advisors

Property funds with AUM of ~US$ 2.2 bn; of which US$ 1.1

bn is committed for development of affordable

housing

*As at March 31, 2019

# Gruh to be merged into Bandhan Bank, subject to regulatory

US$ amounts converted based on exchange rate of US$ 1 = Rs. 69.31

approvals.

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HDFC Snapshot

BUSINESS SUMMARY

? Loans Outstanding (Gross loans) (As at March 31, 2019)

: Rs. 4,619.13 bn : US$ 66.64 bn

? Individual Loans Originated CAGR (5 years)

: 17%

? Cumulative Housing Units Financed

: 7 million

? Cumulative loan write offs since inception (of cumulative disbursements)

: Under 8 basis points

? Cost to Income Ratio

: 8.5%

? Unaccounted gains on listed investments in subsidiary and associate companies

: Rs. 1,873.86 bn : US$ 27.04 bn

? Consolidated Profit After Tax CAGR (5 years)

: 16%

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MORTGAGE MARKET IN INDIA

Mortgage Market in India

DRIVERS OF MORTGAGE GROWTH

? Improved Affordability

? Low Penetration

? Government Incentives ? Fiscal Benefits ? Credit Linked Subsidy Scheme

? Other Demand Drivers

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Property Value (Rs. 100,000) & Affordability

Annual Income (Rs. 100,000)

Mortgage Market in India

IMPROVED AFFORDABILITY

60

Best affordability in over two decades.

16.00

Government support towards housing likely to further improve

affordability.

14.00

50

12.00

40 10.00

30

8.00

22.0

20

15.6

6.00

11.1

4.00

10

8.3 6.6 5.9 5.3 5.1 4.7 4.3 4.7 5.0 5.1 5.1 4.5 4.7 4.8 4.6 4.7 4.6 4.4 4.1 3.8 3.7 3.5

2.00

0

0.00

Property Cost

Affordability

Annual Income

Representation of property price estimates Affordability equals property prices by annual income

Based on customer data

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