HDFC profit rises 25 percent in Q2

MUMBAI: Mortgage leader HDFC on Thursday reported a 25 per cent rise in standalone net income at Rs 2,467.08 crore in the three months to September, boosted by investment income from part-selling its stake in the mutual fund arm during the quarter through an IPO, coupled with robust loan demand. Vice-chairman Keiky Mistry said the company has no issue liquidity issues, despite the crisis in the system and also that it has no exposure to the crippled IL&FS group’s debt instruments.

“We’ve some indirect exposure to the IL&FS group by way of funding a building in the BKC area of the city, but that is fully secured with lease-rentals, which are being paid on time. Though the asset is standard, we have made a 37 per cent provision for the same,” Mistry said.

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