HDB Monetary Providers shares rallied over 12 per cent in early commerce on the NSE, climbing to ₹723.95 from the earlier shut of ₹644.30, after the corporate reported a sturdy set of Q4FY26 earnings and secure operational outlook.
The sharp inventory motion displays investor confidence in bettering asset high quality, regular margins and expectations of a pickup in progress, as echoed by a number of brokerages.
Robust earnings and regular stability sheet progress
The corporate posted a internet revenue of ₹750.6 crore for the quarter ended March 2026, marking a 41.3 per cent year-on-year enhance from ₹530.9 crore in the identical interval final yr.The corporate posted a internet revenue of ₹750.6 crore for the quarter ended March 2026, marking a 41.3 per cent year-on-year enhance from ₹530.9 crore in the identical interval final yr. Internet curiosity revenue rose 21.6 per cent to ₹2,399 crore, in comparison with ₹1,973 crore a yr in the past, supported by secure yields and improved funding prices.
In FY26, revenue after tax stood at ₹2,543.8 crore, up 17 per cent from ₹2,175.9 crore in FY25.
Asset beneath administration (AUM) grew 10.7 per cent year-on-year to ₹1,18,733 crore as of March 31, 2026, whereas the gross mortgage ebook elevated 10.9 per cent to ₹1,18,493 crore, indicating regular growth regardless of pockets of stress in choose segments.
Administration highlighted that enterprise momentum remained wholesome regardless of geopolitical disruptions throughout March 2026, with no seen slowdown in credit score demand. Whereas stress endured in asset finance and unsecured private loans, the corporate expects restoration and progress traction to enhance within the coming quarters. It reiterated its medium-term AUM progress steering at nominal GDP progress plus 6–7 per cent.
The agency continues to concentrate on increasing its used industrial automobile portfolio whereas anticipating the brand new CV section to develop according to business traits. Unsecured enterprise loans are more likely to acquire traction in FY27 as asset high quality improves. Margins are guided to stay round 8 per cent, supported by secure yields and decrease price of borrowings, which declined 53 foundation factors year-on-year. Operational effectivity measures, together with department rationalisation and investments in know-how, are anticipated to maintain opex-to-AUM within the 3.7–3.8 per cent vary.
On asset high quality, the asset finance section confirmed enchancment, with gross stage 3 property declining to three.8 per cent in March 2026 from 4.3 per cent in December 2025, aided by recoveries and tighter threat controls.
Jefferies maintained a purchase score on the inventory, trimming its goal value to ₹845 from ₹900, citing expectations of a pickup in AUM progress, decrease credit score prices and secure margins driving earnings forward.
JM Monetary stated the corporate is at an inflection level with bettering asset high quality and stronger disbursements, elevating its FY27–28 earnings estimates by 3 per cent. It maintained an add score with a revised goal value of ₹710, factoring in round 15 per cent AUM CAGR and return on fairness over FY26–28.
Motilal Oswal famous that whereas the quarter noticed a wholesome rise in disbursements and sequential enchancment in asset high quality, general mortgage progress remained muted because of elevated repayments. The brokerage reiterated a impartial score with a goal value of ₹720, stating that valuations already consider medium-term progress and that clearer execution on mortgage progress and sustained enchancment in return ratios will probably be key triggers forward.
Equirus Securities believes bettering asset high quality, secure margins and a revival in mortgage progress place the corporate for stronger profitability forward. It expects round 18 per cent AUM CAGR over FY26–FY29 and return on fairness of 16–17 per cent by FY28–29, whereas remaining cautious about potential macro dangers from geopolitical tensions. Equirus retained a ‘Lengthy’ score and raised the goal value to ₹775.
Printed on April 16, 2026
