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HDFC Bank Ltd
NSE: HDFCBANK BSE: 500180 INE040A01034 Financial Services Bank 🔎 Screen
NIFTY 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY Bank Fin. Services
₹568,424 Cr
Market Cap
0.98
P/B
3.38%
NIM
13.8%
ROE
1.15%
GNPA
Fin. Margin
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📈 Price History
Ratio Health
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By Category
Shareholding
About

HDFC Bank Limited (also known as HDFC) is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and the world's tenth-largest bank by market capitalization as of May 2024. As of April 2024, HDFC Bank has a market capitalization of $145 billion, making it the third-largest company on the Indian stock exchanges.

✓ Strengths 3
  • Company has delivered good profit growth of 19.0% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 26.1%
  • Company's median sales growth is 16.3% of last 10 years
! Concerns

No concerns data yet.

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📈 Growth Pattern
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3-Statement Financial Model
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In-line quarter: deposit growth and asset quality remain strong, but margin compression and rising costs temper earnings momentum. quarter Investor Presentation One-Pager? Mar 2026
Revenue
₹46,280 Cr
+4.9% YoY (Net revenue)
EBITDA Margin
3.38%
-2bps QoQ, -12bps YoY (NIM)
PAT
₹19,220 Cr
+9.1% YoY
Key Metric
1.96%
RoA remains stable; RoE 14.1%
What Went Right
  • Average deposits grew 12.8% YoY and 3.6% QoQ to ₹28,511 bn, with EOP deposits surging 14.4% YoY and 8.6% QoQ to ₹31,053 bn.
  • Asset quality resilient: GNPA stable at 1.15% (ex-agri 0.91%), specific PCR at 71%.
  • PAT increased 9.1% YoY to ₹192.2 bn, aided by lower provisions (down 18.2% YoY to ₹26.1 bn).
  • Branch network expanded to 9,689 (up 234 YoY), supporting deposit mobilization.
  • Fee income (ex-transaction gains) grew 18% YoY and 5% QoQ, driven by third-party product distribution.
What to Watch
  • NIM compressed to 3.38% from 3.5% YoY, reflecting higher cost of funds (4.4% vs 4.9% earlier) and yield on assets declining to 7.8%.
  • Core cost-to-income ratio rose to 39.9% from 39.2% in Q3, driven by branch investments and staff costs.
  • CASA ratio remained stagnant at 34% for four consecutive quarters, limiting cheap deposit growth.
  • Non-interest income was flat QoQ (-0.4%) at ₹132.0 bn, due to lower net trading & MTM income.
  • Consolidated net revenue fell 2.2% YoY (down 11.6% QoQ) to ₹717.0 bn, dragged by insurance subsidiaries.
Investor Lens
HDFC Bank’s core deposit franchise and asset quality remain intact, but the quarter reveals persistent NIM pressure and rising costs, which are slowly eating into profitability. The bank is investing heavily in branch expansion to secure future deposit growth, but near-term cost-to-income is trending up and CASA mix is stuck at 34%. PAT growth was aided by a low provision base — watch for credit cost normalization. Next quarter, key focus areas will be NIM trajectory, cost efficiency, and whether the bank can improve CASA ratio to support margins. The high CET1 of 17.3% provides capital flexibility, but return on equity at 14.1% remains modest by historical standards. If NIM stabilizes and cost growth moderates, the earnings outlook remains constructive; otherwise, margin dilution could weigh on valuation.
From investor presentation · AI-generated analysis · Not investment advice
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📊 MIXED Net profit up 9.3% YoY but NIM pressure persists
Revenue
Revenue stood at ₹87,182 Cr, growing a mere 0.5% YoY and 0.1% QoQ, indicating tepid top-line expansion.
Profitability
Net profit rose 9.3% YoY to ₹21,074 Cr, with EPS improving to ₹13.22 from ₹12.31. ROE stood at 13.8%, reflecting moderate profitability.
Margins
Financing margin contracted sharply — down 9% YoY and 15% QoQ (current level -2%), highlighting sustained NIM compression typical in the banking sector.
Cash Flow
Skip — not applicable for banking/financial companies.
Balance Sheet
Total assets stood at ₹4,908,041 Cr with reserves of ₹579,975 Cr. No specific data on deposits or advances, but the bank remains well-capitalized.
Key Risks
1) Persistent NIM compression could pressure margins further. 2) Asset quality may face stress if credit costs rise. 3) Regulatory changes could impact profitability.
Outlook
The bank faces headwinds from margin compression and sluggish revenue growth. Profitability may remain constrained unless loan growth accelerates or funding costs ease.
Generated by AI · Mar 2026 results · Not investment advice
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Revenue by Segment

Segment Q3FY26 Q4FY26 Trend
Insurance Business
31,681
21,980
Other Banking Business
9,548
9,265
Others
5,241
5,131
Retail Banking
76,320
74,758
Treasury
18,149
17,296
Wholesale Banking
42,764
44,644
Total 183,704 173,073

Source: NSE Integrated Filing XBRL (Reg. 33 Ind AS). Values in ₹ Crore.

🏦 Banking KPIs

NIM, GNPA, CASA, CAR, ROA, ROE and more — extracted from investor presentations
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Quarterly banking KPIs with historical trend — NIM, GNPA, CASA, CAR and more, AI-extracted from investor presentations
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