While I’m not a great fan of HDFC, the mortgage originator has shown some promise. The latest results, on the face of it, show a 23% rise in EPS over Q1 FY10. But:   Revenues are stagnant for two years now. Around 2,700 to 2,800 crores, …

Posted in Credit Repair, HDFC Comments Off

An excellent interview with Deepak Parekh (DNA) What is the trend in real estate development across cities? It’s all going suburban in the bigger cities. I will give you the example of Mumbai. Guess where HDFC’s business is mainly from? It

Posted in Credit Repair, HDFC Comments Off

HDFC announced results yesterday and produced an Earnings Per Share (EPS) of Rs. 22.65, a 20% growth over Q3 FY09 (Rs. 18.89). Profits were at 671 cr. – which grew 22% but then they issued more shares so EPS grew less than that. If the share price cr…

Posted in Credit Repair, HDFC Comments Off

HDFC is looking to sell a 4000 cr. non convertible debt issue to institutions. There are two parts – two year debt of 2000 cr. at a yield of 7.15% annualized, and a 2000 cr. issue at a yield of 7.85%.

These are zero coupon debentures – meaning you do…

Posted in Credit Repair, HDFC Comments Off