India's biggest mortgage financier Housing Development Finance Corporation (HDFC) is all set to announce its financial results for the June quarter on Monday.
According to Kotak Institutional Equities, HDFC is likely to post a 44.70 per cent rise in adjusted profit after tax at Rs 2,250.60 crore for April-June.
The company had made a net profit of Rs 1,555.70 crore in the same quarter last year.
Net interest income (NII) and pre-provision profit may see an increase of 12.60 per cent and 33.40 per cent YoY, respectively.We model 18 per cent loan growth and 10 basis points (bps) yoy NIM compression to 2.9 per cent to drive 13 per cent NII growth.
Dividend income from HDFC Bank (Rs 520 crore) will boost yoy earnings.
This dividend was booked in Q2 FY18, Kotak said in a report.IDBI Capital Markets expects a loan growth of 19 per cent YoY from HDFC.
Brokerage firm Sharekhan projected a 37.20 per cent YoY growth in net profit for HDFC.
It also sees 26.10 per cent annual increase in net interest income and 34.20 per cent jump in pre-provisioning profit.The stock was trading almost flat at Rs 2,043 at around 9.55 am.
The benchmark Sensex was up 0.25 per cent at 37,429.