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Housing Development Finance Corp.’s asset quality remains stable with gross stage-III assets stood at 2.34% versus 2.28% QoQ (versus 2.28% YoY) better transit over Covid-19 impact.
Also, restructured assets stood at 0.8% (lower than 0.9% Q3 FY21) of assets under management which majorly comprises of one large real estate builder group (0.5% of AUM).
Profit after tax grew by 42% YoY (up 9% QoQ) led by lower expected credit loss provisions (down 44% YoY).
Net interest income grew by 14% YoY led by improvement in margins.
On adjusted basis for FY21, profit before tax grew by 19% YoY.
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