---
title: "Housing Development Finance CorporationLtd(Merged) (HDFC) — Share Price, Financials & Analysis"
symbol: "HDFC"
company: "Housing Development Finance CorporationLtd(Merged)"
canonical: "https://tapetide.com/stocks/HDFC"
nse_symbol: "HDFC"
sector: "Financial Services"
industry: "Finance"
generated_at: "2026-09-13T19:21:03.623Z"
---

# Housing Development Finance CorporationLtd(Merged) (HDFC)

Canonical page: https://tapetide.com/stocks/HDFC

## Company

- **NSE Symbol:** HDFC
- **Sector:** Financial Services
- **Industry:** Finance
- **Macro Sector:** Financial Services
- **Stock Type:** DELISTED
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** hdfc.com

## About

Housing Development Finance Corporation Limited is an Indian financial services company based in Mumbai, India. It is a major housing finance provider in India. It also has a presence in banking, life and general insurance, asset management, venture capital, realty, education, deposits and education loans

## Latest Price

- **Price:** ₹2724.3
- **Change:** 0 (0%)
- **Open:** ₹2755.8
- **Day High:** ₹2777.65
- **Day Low:** ₹2710.6
- **Previous Close:** ₹2724.3
- **Volume:** 0
- **As Of:** 2023-07-12T04:59:43+00:00

## Key Insights

### Strengths

- Company has been maintaining a healthy dividend payout of 25.7%

### Weaknesses

- Company has low interest coverage ratio.
- Tax rate seems low
- Company has a low return on equity of 13.5% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 16% | 7% | 17% |
| revenue growth | 13% | 15% | 14% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 29954 | 34083 | 39259 | 35738 | 30991 | 38591 | 31298 | 35047 | 23183 | 43917 | 41206 | 44634 |
| Expenses | 18715 | 22219 | 27172 | 24212 | 19875 | 27228 | 19562 | 22373 | 10997 | 29749 | 26127 | 27719 |
| Operating Profit | 11238 | 11864 | 12087 | 11526 | 11115 | 11362 | 11735 | 12673 | 12187 | 14168 | 15080 | 16915 |
| OPM % | 38 | 35 | 31 | 32 | 36 | 29 | 38 | 36 | 53 | 32 | 37 | 38 |
| Other Income | 1607 | 1650 | 1769 | 1933 | 1891 | 2189 | 2470 | 2461 | 2195 | 2965 | 3064 | 2999 |
| Interest | 7942 | 7518 | 6954 | 6666 | 6624 | 6684 | 6995 | 6925 | 7688 | 8762 | 9932 | 10464 |
| Depreciation | 86 | 89 | 91 | 89 | 87 | 88 | 90 | 153 | 150 | 150 | 152 | 146 |
| Profit before tax | 4816 | 5906 | 6811 | 6704 | 6295 | 6779 | 7121 | 8056 | 6544 | 8221 | 8061 | 9305 |
| Tax % | 16 | 15 | 16 | 15 | 16 | 16 | 13 | 14 | 15 | 14 | 12 | 14 |
| Net Profit | 4059 | 5035 | 5724 | 5669 | 5311 | 5670 | 6169 | 6892 | 5574 | 7043 | 7078 | 8005 |
| EPS in Rs | 20.83 | 25.61 | 28.76 | 29.66 | 27.92 | 29.08 | 32.23 | 35.62 | 29.26 | 36.06 | 36.54 | 41.55 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 40753 | 48316 | 53223 | 61034 | 79474 | 95694 | 101726 | 139034 | 135926 | 152940 |
| Expenses | 15314 | 19516 | 21228 | 26377 | 44714 | 51819 | 48983 | 92319 | 89037 | 94591 |
| Operating Profit | 25439 | 28799 | 31995 | 34657 | 34760 | 43875 | 52743 | 46715 | 46889 | 58349 |
| OPM % | 62 | 60 | 60 | 57 | 44 | 46 | 52 | 34 | 34 | 38 |
| Other Income | 61 | 74 | 34 | 53 | 6282 | 7891 | 5816 | 6959 | 9012 | 11223 |
| Interest | 16608 | 18710 | 20296 | 21953 | 24718 | 29525 | 32109 | 29081 | 27230 | 36845 |
| Depreciation | 47 | 47 | 121 | 108 | 116 | 141 | 256 | 355 | 419 | 597 |
| Profit before tax | 8846 | 10117 | 11613 | 12650 | 16207 | 22099 | 26193 | 24237 | 28252 | 32131 |
| Tax % | 27 | 31 | 31 | 32 | 19 | 20 | 13 | 15 | 15 | 14 |
| Net Profit | 8403 | 9245 | 10718 | 11848 | 13111 | 17581 | 22826 | 20488 | 24042 | 27700 |
| EPS in Rs | 50.93 | 55.65 | 64.5 | 69.56 | 71.48 | 94.29 | 123.75 | 103.89 | 124.63 | 142.6 |
| Dividend Payout % | 27 | 27 | 26 | 26 | 28 | 22 | 17 | 22 | 24 | 31 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 312 | 315 | 316 | 318 | 335 | 344 | 346 | 361 | 363 | 367 |
| Reserves | 37263 | 44757 | 50585 | 59742 | 91538 | 111389 | 126133 | 156352 | 179491 | 201108 |
| Borrowings | 190602 | 217357 | 249418 | 293795 | 336416 | 386755 | 425368 | 447011 | 507460 | 582265 |
| Other Liabilities | 68712 | 87078 | 97468 | 120268 | 138270 | 162321 | 177936 | 225507 | 278917 | 307455 |
| Total Liabilities | 296889 | 349507 | 397786 | 474122 | 566560 | 660810 | 729782 | 829230 | 966230 | 1091194 |
| Fixed Assets | 1002 | 1470 | 1568 | 2266 | 2349 | 2310 | 5476 | 5312 | 12745 | 12621 |
| CWIP | 21 | 9 | 19 | 54 | 23 | 24 | 59 | 47 | 39 | 99 |
| Investments | 72914 | 93782 | 104721 | 132855 | 172218 | 210704 | 243248 | 302481 | 352484 | 408072 |
| Other Assets | 222951 | 254245 | 291478 | 338947 | 391969 | 447771 | 481000 | 521390 | 600962 | 670403 |
| Total Assets | 296889 | 349507 | 397786 | 474122 | 566560 | 660810 | 729782 | 829230 | 966230 | 1091194 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -10735 | -9118 | -19710 | -14173 | -57928 | -44301 | -26801 | -27276 | -44028 | -47328 |
| Cash from Investing Activity | -12983 | -18552 | -9309 | -27236 | -7954 | -10316 | -9874 | -6958 | -19887 | -21524 |
| Cash from Financing Activity | 25719 | 24820 | 29111 | 43127 | 63344 | 54986 | 38690 | 31665 | 63541 | 69321 |
| Net Cash Flow | 2000 | -2850 | 92 | 1718 | -2538 | 369 | 2015 | -2570 | -374 | 469 |
| Free Cash Flow | -10959 | -9679 | -19847 | -14391 | -58137 | -44482 | -27153 | -27429 | -46158 | -47608 |
| CFO/OP | -31 | -20 | -50 | -29 | -154 | -93 | -43 | -52 | -85 | -73 |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 3 | 3 | 3 | 9 | 1 | 2 | 1 | 1 | 1 | 1 |
| Cash Conversion Cycle | 3 | 3 | 3 | 9 | 1 | 2 | 1 | 1 | 1 | 1 |
| Working Capital Days | -814 | -800 | -848 | -733 | -790 | -672 | -614 | -582 | -626 | -603 |
| ROCE % | 12 | 12 | 11 | 10 | 10 | 11 | 11 | 9 | 8 | 9 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Jun 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FIIs | 77.27% | 73.97% | 72.44% | 70.88% | 72.78% | 69.19% | 66.2% | 63.59% |
| DIIs | 10.43% | 12.63% | 16.46% | 17.84% | 16.13% | 18.99% | 22.35% | 24.17% |
| Government | 0.07% | 0.18% | 0.21% | 0.2% | 0.22% | 0.14% | 0.13% | 0.13% |
| Public | 12.23% | 13.22% | 10.89% | 11.08% | 10.88% | 11.69% | 11.3% | 12.11% |
| No. of Shareholders | 214753 | 241603 | 283290 | 475106 | 584323 | 814283 | 745522 | 720777 |

### Quarterly

| Category | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FIIs | 70% | 71.95% | 72.78% | 72.22% | 71.95% | 72.14% | 69.19% | 67.75% | 67.77% | 67.22% | 66.2% | 63.59% |
| DIIs | 18.45% | 17.12% | 16.13% | 16.47% | 16.85% | 16.59% | 18.99% | 21.02% | 20.91% | 21.57% | 22.35% | 24.17% |
| Government | 0.22% | 0.22% | 0.22% | 0.14% | 0.14% | 0.14% | 0.14% | 0.14% | 0.13% | 0.13% | 0.13% | 0.13% |
| Public | 11.33% | 10.72% | 10.88% | 11.18% | 11.06% | 11.13% | 11.69% | 11.09% | 11.18% | 11.07% | 11.3% | 12.11% |
| No. of Shareholders | 627655 | 531710 | 584323 | 662818 | 628856 | 671541 | 814283 | 881999 | 839491 | 759232 | 745522 | 720777 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 4 / 6 / 9

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 49.51 | Sell |
| EMA (10) | 49.06 | Sell |
| SMA (20) | 48.12 | Sell |
| EMA (20) | 48.39 | Sell |
| SMA (50) | 46.92 | Buy |
| EMA (50) | 50.12 | Sell |
| SMA (100) | 59.95 | Sell |
| EMA (100) | 53.3 | Sell |
| SMA (200) | 55.25 | Sell |
| EMA (200) | 51.11 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 48.06 | Neutral |
| MACD (12,26,9) | 0.59 | Buy |
| Stochastic (14,3,3) | 54.85 | Neutral |
| ADX (14) | 14.42 | Neutral |
| Williams %R (14) | -55.88 | Neutral |
| ATR (14) | 2.81 | High Volatility |
| ROC (12) | 5.51 | Buy |
| Stoch RSI (14) | 12.84 | Buy |
| UO (7,14,28) | 54.24 | Neutral |

## Filings & Documents

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=66b29856-1c21-406d-8551-7f59172d10ae.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/66b29856-1c21-406d-8551-7f59172d10ae.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ffe328a9-7714-4906-85c4-d5cf369d2695.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ffe328a9-7714-4906-85c4-d5cf369d2695.pdf) |
| Nov 2018 | [Concall - Nov 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=71a5993c-0960-4992-b040-6e8a2883c940.pdf) |
| Nov 2018 | [Concall - Nov 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/11/71a5993c-0960-4992-b040-6e8a2883c940.pdf) |
| May 2023 | [Concall - May 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8da728bd-f4f1-454e-a470-b9b9455364ee.pdf) |
| May 2023 | [Concall - May 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8da728bd-f4f1-454e-a470-b9b9455364ee.pdf) |
| May 2022 | [Concall - May 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=be57fe2a-03d9-4851-a22b-667f7a772b77.pdf) |
| May 2022 | [Concall - May 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/be57fe2a-03d9-4851-a22b-667f7a772b77.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_HDFC_2010_2011_11102011034040.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_HDFC_2009_2010_25082010120000.zip) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/500010/73132500010.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/500010/68616500010.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/500010/5000100320.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/500010/5000100319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/500010/5000100318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/500010/5000100317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/500010/5000100316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/500010/5000100315.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:21:03.623Z.