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BW Businessworld

HDFC Q2 Net Up 18.5%, Meets F'cast

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Housing Development Finance Corp (HDFC), India biggest mortgage lender, reported an 18.5 per cent rise in net profit for the July-September quarter on Monday, meeting market estimates.

Standalone net profit for the fiscal second quarter was Rs 1,151 crore compared with Rs 971 crore a year ago, and total income rose 27 per cent to Rs 5,270 crore over the same period.

Analysts expected HDFC to post a net profit of Rs 1,148 crore, according to Thomson Reuters I/B/E/S.

HDFC expects its loan book to grow 18-20 percent in the fiscal year 2013, Chief Executive Keki Mistry said on 22 October.