HDFC Q4 Results 2018: India's largest housing financier Housing Development Finance Corporation (HDFC) on Monday declared a dividend of Rs 16.5 per equity share for the financial year 2017-2018 as Q4 net profit swells by 39% to Rs 2,846.22 crore with reappointing Keki Mistry as MD.
HDFC Q4 Results 2018: India’s largest housing financier HDFC Ltd (Housing Development Finance Corporation) on Monday declared a dividend of Rs 16.5 per equity share for the financial year 2017-2018 as Q4 net profit swells by 39% to Rs 2,846.22 crore. “The board of directors have proposed a final dividend of Rs 16.5 per share, subject to the approval of the members of the ensuing annual general meeting. The proposed final dividend is in addition to the interim dividend of Rs 3.5 per share declared by the board of directors on 16 March 2018,” HDFC said in an exchange filing on 30 April 2018.
HDFC Ltd on Monday reported a surge of 39% in the standalone net profit to Rs 2,846.22 crore for the period of January-March 2018 as compared to Rs 2,044.2 crore as in the same quarter a year earlier. Debt-equity ratio is 5.21 while the debt service coverage ratio is 0.16, as on 31 March 2018.
Following the Q4 earnings release, shares of HDFC rose jumped 1.84% to a day’s top of Rs 1,892.05 in the late afternoon trades on BSE today. The stock of HDFC closed up 1.44% at Rs 1,884.65 on BSE on Monday. Post the Q4 results for the quarter ended 31 March 2018, HDFC Ltd commands a market capitalisation of Rs 3,15,937.96 crore on BSE.
Keki Mistry, present Vice-Chairman and CEO of HDFC Ltd has been redesignated as the Managing Director of HDFC Ltd with effect from 14 November 2018. “The board, on the recommendation of the nomination and remuneration committee of directors approved the re-appointment of Mr Keki M Mistry as the Managing Director (designated as “Vice Chairman and Chief Executive Officer”) of the corporation for a period of 3 years with effect from 14 November 2018, subject to the approval of the members at the ensuing AGM,” HDFC said in a statement.
“The board approved that 41 Annual General Meeting of the members of the corporation be held on Monday, 30 July 2018 at 2:30 pm at, “Birla Matushri Sabhagar”, 19, New Marine Lines, Mumbai, 400 020,” HDFC said further.
“During the quarter ended 31 March 2018, the corporation has allotted 6,43,29,882 equity shares of face value of Rs 2 each on a preferential basis and 1,03,89,041 equity shares of Rs 2 each to qualified institutional buyers. Further, the corporation has allotted 30,48, 675 equity shares of Rs 2 each pursuant to exercise of stock options by certain employees/directors and 5,14,600 equity shares of Rs 2 each pursuant to conversion of warrants,” HDFC added. The net worth of HDFC as on 31 March 2018 is Rs 61,402.54 crore