HDFC Bank share price jumps over 1% ahead of Q1 results 2026 tomorrow, 18 July: What brokerages expect?

HDFC Bank Q1 Results: Shares of HDFC Bank rose more than 1% on Friday ahead of the lender's June-quarter earnings announcement. The stock gained as much as 1.2% to an intraday high of ₹819.80 on the BSE.

India's largest private sector lender is scheduled to announce its financial results for the April-June quarter (Q1 FY27) on Saturday, July 18.

Brokerages expect HDFC Bank to report a mixed June quarter, with net interest margins (NIMs) likely to remain broadly flat or witness a modest sequential moderation. However, healthy double-digit loan growth and stable asset quality across segments are expected to support the lender's overall performance.

The bank stock has jumped 4% in 1 month but lost 12% in 6 months and 17% in 1 year.

What brokerages expect?

Motilal Oswal Financial Services expects HDFC Bank's net interest income (NII) to increase 8.5% year-on-year to ₹34,100 crore, while forecasting a 5.9% rise in net profit to ₹19,230 crore.

"Net Interest Margins (NIM) are likely to remain largely flat, declining by around 2 basis points quarter-on-quarter due to seasonal agricultural stress. Loan growth is expected at 14.5% year-on-year and 2.4% quarter-on-quarter, led by corporate, business banking, agriculture and gold loans, while mortgage loan growth may remain subdued," said Motilal Oswal Financial Services.

The brokerage added that asset quality across segments is expected to remain steady, with credit costs likely to be in the range of 45-50 basis points.

Meanwhile, brokerage Systematix Research expects the bank to report NII of ₹34,335 crore, reflecting growth of 9.2% year-on-year and 3.8% quarter-on-quarter.

It sees other income declining 41.5% year-on-year to ₹12,721 crore, while falling 3.6% sequentially. The brokerage has estimated pre-provision operating profit (PPOP) at ₹28,863 crore, up 3.8% quarter-on-quarter but down 19.2% year-on-year. Provisions are projected at ₹2,985 crore, rising 14.4% sequentially but declining 79.3% year-on-year due to the high base in the corresponding quarter last year.

Consequently, Systematix estimates HDFC Bank's net profit to increase 9% year-on-year and 3% quarter-on-quarter to ₹19,796 crore.

Axis Direct believes HDFC Bank's NII will rise 8.6% year-on-year to ₹34,154 crore and forecasts net profit to grow 7.3% year-on-year and 1.4% quarter-on-quarter to ₹19,484 crore.

"Non-interest income is expected to fall 39.4% year-on-year and decline 0.2% quarter-on-quarter. The sharp decline is due to the high base of Q1 FY26, when the bank booked gains from the HDB Financial Services stake sale," said Axis Direct.

The brokerage also expects pre-provision operating profit to decline 20% year-on-year to ₹28,582 crore. It estimates provisions at ₹3,044 crore, down 78.9% year-on-year but up 16% on a sequential basis.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.