HDFC to raise up to Rs85,000 crore through debt securities
HDFC today reported a 28.63% rise in consolidated net profit to Rs3,961.17 crore for the quarter ended 31 March 2018
New Delhi: Mortgage lender HDFC’s board has approved raising up to Rs85,000 crore through issuance of debt securities.
“The Board approved issuance of redeemable non-convertible debentures (secured/unsecured) and/or hybrid instruments (not in the nature of equity shares) up to Rs85,000 crore on a private placement basis,” HDFE said in a BSE filing.
The Board also approved re-appointment of Keki Mistry as the managing director (designated as vice chairman and chief executive officer) of the Corporation for a period of 3 years.
HDFC has sought members approval for both the proposals in its annual general meeting scheduled on 30 July 2018.
HDFC today reported a 28.63% rise in consolidated net profit to Rs3,961.17 crore for the quarter ended 31 March 2018. It had registered a net profit of Rs3,079.33 crore in the January-March quarter of the previous financial year (2016-17).
Total income during the quarter grew 17.78% to Rs21,248.79 crore as against Rs18,040.59 crore in the year-ago period, HDFC said in a regulatory filing.
On standalone basis, HDFC posted 39.23% rise in net profit to Rs2,846.22 crore in the reported quarter compared to Rs2,044.2 crore earlier. Total income grew 13.14% to Rs9,633.89 crore as against Rs8,514.51 crore in the year-ago period.
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