HDFC’s Mortgage Book Actually Growing

HDFC, the largest mortgage lender in India reported second quarter net profits on Friday. The company said that it’s net profit increased by 34.2% excluding onetime gains from the stake sale of BPO firm, Intelenet Global in the same quarter last year. The company’s profit in this quarter, last year was Rs 646.39 Crore (US$ 131 Million), which included a Rs 313.25 Crore (US$ 64 Million) gain from selling its stake in its BPO joint venture with Barclays, to a management buyout financed by the Blackstone Group.

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