HDB FINANCIAL SERVICES L

Operates as a non-banking financial company that lends through three principal verticals: Enterprise Lending (mortgage products such as loan-against-property and business loans, plus gold loans), Asset Finance (commercial vehicles and construction equipment), and Consumer Finance (auto loans and consumer durables). The Lending Business generates 93.4% of segment revenue with a 19.6% segment EBIT margin, while BPO Services contributes the remaining 6.6% at a 6.6% EBIT margin. The gross loan book stood at ₹1,21,846 crore as of Q1 FY27, disbursed through 1,710 branches spread across 1,165 cities and reaching a customer base of 23.9 million. Employee cost is the single largest operating line item at 21.2% of revenue, followed by other operating expenses at 7.0% and depreciation at 1.1%. Funding is raised mainly through secured redeemable non-convertible debentures placed privately, with a CRAR of 21.29% reported for Q1 FY27. The NBFC is a subsidiary of HDFC Bank.