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. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Lending Business (93%), BPO Services (7%). Diversified retail and enterprise NBFC lending across mortgage, asset finance and consumer loans
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 18,430 |
| EBITDA (ex other income) | 10,416 |
| margin % | 56.5 |
| Owners' profit | 2,544 |
| EPS, as reported (₹) | 30.97 |
| ROE % · ROCE % | 12.3 · — |
| Debt / equity (x) | 0.00 |
| Cash from operations | (8,606) |
| Capex | (144) |
| ₹ crore | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 4,465 | 4,545 | 4,673 | 4,745 | 4,938 |
| Profit before tax | 733 | 782 | 860 | 1,011 | 1,055 |
| Net profit | 568 | 581 | 644 | 751 | 785 |
| EPS (₹) | 7.13 | 7.01 | 7.76 | 9.04 | 9.46 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Lending Business | 4,452 | 24.2 |
| BPO Services | 1,224 | 6.6 |
| Lending business | 12,754 | 69.2 |
| Total, before eliminations | 18,430 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 6,43,552 | 31.7 | 5.50 | 11.6 | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 2,42,019 | 18.1 | 3.67 | 6.7 | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,57,446 | 27.2 | 5.17 | 6.9 | 17.2 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · HDB Financial Services allots NCDs worth about Rs 2,018 crore at 8.05 percent coupon | fund raising | medium | — | — |
| 24 Aug 2026 · HDB Financial Services allots 1,21,016 shares under ESOP | capital market events | low | — | — |
| 20 Aug 2026 · HDB Financial Services schedules five investor meetings for August to September 2026 | board shareholder meetings | low | — | — |
| 6 Aug 2026 · HDB Financial Services allots NCDs worth about Rs 545 crore via private placement | fund raising | medium | — | — |
| 4 Aug 2026 · HDB Financial Services shares schedule of investor meetings in August | board shareholder meetings | low | — | — |
| 28 Jul 2026 · HDB Financial Services allots 2,67,243 shares under ESOP | capital market events | low | — | — |
| 28 Jul 2026 · HDFC Bank nominates Jimmy Tata as Director on HDB Financial board | business updates | medium | — | — |
| 23 Jul 2026 · HDB Financial allots Rs 400 crore NCDs at 8.23 percent coupon | fund raising | medium | — | — |
| 23 Jul 2026 · HDB Financial Services allots Rs 400 crore NCDs at 8.23% via private placement | fund raising | medium | — | — |
| 20 Jul 2026 · Q1 FY27 earnings call transcript filed | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| — |
| 26.5 |
| 71.2 |
| TATA CAPITAL LIMITED | 1,54,110 | 28.2 | 3.27 | 6.5 | 10.4 | — | — | 75.8 |
| MUTHOOT FINANCE LIMITED | 1,12,094 | 9.9 | 2.82 | 3.9 | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 62,349 | 27.4 | 3.96 | — | 13.8 | — | — | 33.1 |
| HDB FINANCIAL SERVICES L ◆ | 55,706 | 20.2 | 2.70 | — | 12.3 | — | — | 58.0 |
| SUNDARAM FINANCE LTD | 52,217 | 23.3 | 3.51 | 6.7 | 13.8 | — | — | 78.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 20.2 | 18.2 | 113 of 212 | 47% |
| P/B | 2.7 | 1.1 | 187 of 245 | 23% |
| ROE | 12.3 | 3.0 | 39 of 266 | 86% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | 58.0 | 48.6 | 115 of 249 | 54% |
| Revenue growth | 10.6 | 12.6 | 121 of 231 | 48% |
| Profit growth | 38.3 | 7.8 | 94 of 251 | 63% |
| Market cap | 55706 | 37 | 7 of 260 | 98% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
