Hdb Financial Services Limited · NSE:HDBFS
Hdb Financial Services — Q4 FY2026 Earnings Presentation
53 slides from Hdb Financial Services's earnings presentation, Apr 15, 2026
Slide 1: Q4 FY26 Earnings Presentation
Q4 FY26 Earnings Presentation April 15, 2026
Slide 2: Presentation Path
Presentation Path 01 03 05 07 BORROWINGS HDB SUSTAINABILITY ABOUT HDB & CAPITAL OVERVIEW INITIATIVES STRUCTURE TECHNOLOGY & EXECUTIVE FINANCIAL RISK SUMMARY – PERFORMANCE MANAGEMENT Q4FY26 – Q4FY26 FRAMEWORK 02 04 06 HDB Financial Services Presentation Q4 FY2026 2
Slide 3: About HDB
Section 1 1 HDB – Snapshot 2 The Essence of HDB – Our Vision, Mission and Values About HDB 3 Our Journey • 17 HDB Financial Services Presentation Q4 FY2026 3
Slide 4: HDB – Snapshot
HDB – Snapshot • We are a subsidiary of HDFC Bank, which is the largest private sector bank in India • HDBFS is licensed by RBI as a Non-Banking Finance Company (“NBFC”) • Classified as an ‘Upper Layer’ NBFC • Strong and reliable financial institution which is independently funded - its long-term de
Slide 5: The Essence of HDB … What we stand for
The Essence of HDB … What we stand for Best in class Governance practices embedded over the years through a pedigreed parentage Focused on prudent, purposeful, resilient growth which is rooted in values Our Foundational Pillars – People | Processes | Products | Partnerships At the heart of everythin
Slide 6: The Essence of HDB … Our Vision and Mission
The Essence of HDB … Our Vision and Mission • 17 HDB Financial Services Presentation Q4 FY2026 6
Slide 7: The Essence of HDB … Our Values
The Essence of HDB … Our Values Integrity Collaboration Agility We ensure that the highest standard of professional We believe that success is achieved not by any one We proactively respond to the changing market conduct is embedded in every corner of the individual but by teams that work together.
Slide 8: Our Journey
Our Journey Established Opened first Branch count AUM Branch count AUM AUM Listed on as branch in crossed 100 crossed INR crossed 1,000 crossed INR crossed INR Stock subsidiary of Chennai 100,000 MM 500,000 MM 1 Trillion exchanges HDFC Bank CARE AAA NSE: HDBFS rating for BSE: 544429 NCDs 2007 2008 2
Slide 9: Executive Summary Q4FY26
Section 2 1 Key Parameters Executive Summary Q4FY26 2 Key Highlights – Q4FY26 & FY26 • 17 HDB Financial Services Presentation Q4 FY2026 9
Slide 10: Key Parameters – Q4 FY26
Key Parameters – Q4 FY26 Gross Loan Book Net Interest Margin: 8.2% ₹ 1,18,493 Cr Q4 PAT Gross NPA: 2.44% ₹ 751 Cr Net NPA : 1.09% Return on Assets: 2.48% Earnings/share : ₹ 9.0 Return on Equity : 14.8% Book Value/share: ₹ 248.9 1,730 Branches across 22.9 MM Customers 1,161 Cities/ Towns HDB Financia
Slide 11: Key Highlights – Q4 FY26 & FY26 (1/3)
Key Highlights – Q4 FY26 & FY26 (1/3) Business metrics Customer franchise grew to 22.9 million with an increase of 4.3% during the quarter and 19.7% Y-o-Y Gross loan book as on March 31, 2026 stood at ₹1,18,493 crores, growing 3.4% sequentially and 10.9% Y-o-Y. Secured loans comprised 74% of the
Slide 12: Key Highlights – Q4 FY26 & FY26 (2/3)
Key Highlights – Q4 FY26 & FY26 (2/3) P&L Metrics (contd…) Credit Cost for the quarter was ₹685 crores as against ₹712 crores for the prior quarter and ₹634 crores for the quarter ended March 31, 2025; Credit Cost for the year ended March 31, 2026 was ₹2,815 crores as against ₹2,113 crores for the
Slide 13: Key Highlights – Q4 FY26 & FY26 (3/3)
Key Highlights – Q4 FY26 & FY26 (3/3) Return Metrics RoA (annualized) for the quarter ended March 31, 2026 stood at 2.48% and for FY26 stood at 2.19% RoE (annualized) for the quarter ended March 31, 2026 stood at 14.83% and for FY26 stood at 13.94% Earnings per share for the quarter was ₹9.0 a
Slide 14: HDB Overview
Section 3 1 HDB – At a Glance 2 Key Metrics 3 Product Portfolio & Loan Book Mix HDB Overview 4 Distribution Network 5 Customer Franchise • 17 HDB Financial Services Presentation Q4 FY2026 14
Slide 15: HDB at a glance
HDB at a glance Key Metrics (Q4FY26) One of the leading, diversified retail-focused NBFCs in India INR 1,185 Bn 22.9MM Gross Loan Customers Product portfolio serving multiple credit needs of customers across Book INR 7.5 Bn three business verticals: Enterprise Lending, Asset Finance and Consumer F
Slide 16: Key Metrics
Key Metrics Profitability and Scale Growth (QoQ/YoY) Asset Quality Returns INR 1,185 Bn 3.4% / 10.9% 2.44% INR 7.5 Bn Gross Loan Book Gross Loan Book Growth GNPA PAT 22.9 MM 16.6% / 41.4% 1.09% 2.48% Customers PAT Growth NNPA RoA 1,730 4.3% / 19.7% 2.35% 14.8% Credit Cost Branches Customers Growth R
Slide 17: Product Portfolio
Product Portfolio ATS1 (INR) Avg. Tenor1 Customer Segment Products Loan Against Enterprise Business Loan Salaried Gold Loans Enterprise Property Business Loan Personal Loan Lending 4.6MM ~10 yrs 1.3MM ~9 yrs 298K ~4 yrs 349K ~5 yrs 302K ~3 yrs INR 1,185 BN2 Commercial Vehicle Loans Construction Equi
Slide 18: Loan Book Mix
Loan Book Mix Product Mix Geographic Mix Micro Lending Uttar Pradesh Tamil Nadu Relationship PL 2W Loans 8% 0% 13% 12% Auto Loans Loan Against 3% 22% (Used) Property Others 2% Auto Loans Uttarakhand 2% Maharashtra (New) 6% Chhattisgarh 1% 9% Odisha 2% 1% Consumer Assam 2% Durables Enterprise 5% 2% B
Slide 19: Omni-Channel Distribution with Pan-India Branch Network
Omni-Channel Distribution with Pan-India Branch Network Pan India Presence With Focus on Expansion in Tier-2+ Markets(1) Wide Distribution Presence(1) Strong Presence Beyond Metro 4 Jammu & Kashmir Markets (1) 1,730 31 Tier 1 Branches States and UTs 11% Tier 2 56 Punjab 17 9% Himachal 4 Pradesh Tier
Slide 20: Customer Franchise
Customer Franchise Customer Franchise Growth New Customers Added (MM) 22.9 Granular Loan Book… …With a Low Customer Concentration 1.9x 19.2 15.8 ~INR ~0.30% 166,000 12.2 Average Ticket Size of of Gross Loan Book from 20 Overall Loan Book Largest Customers Mar-23 Mar-24 Mar-25 Mar-26 HDB Financial Se
Slide 21: Financial Performance
Section 4 1 Disbursement & Gross Loan Book Mix 2 P&L and Balance Sheet Financial Performance 3 Return Metrics Q4FY26 4 Asset Quality 5 Key Annual Ratios & Performance through the years • 17 HDB Financial Services Presentation Q4 FY2026 21
Slide 22: Disbursement and Gross Loan Book Mix
Disbursement and Gross Loan Book Mix Disbursements Gross Loan Book INR Crores INR Crores 118,493 19,922 114,577 109,342 111,409 106,878 17,643 17,917 24.4% 23.6% 24.0% 15,599 22.7% 23.5% 15,171 38.5% 34.8% 40.7% 39.8% 45.0% 37.7% 37.8% 38.0% 38.0% 38.0% 30.5% 34.9% 32.4% 32.4% 29.1% 39.3% 38.7% 38.4
Slide 23: Profit & Loss Statement
Profit & Loss Statement INR Crores Particulars Q4FY25 Q3FY26 Q4FY26 QoQ YoY FY25 FY26 YoY Gross Loan Book 1,06,878 1,14,577 1,18,493 3.4% 10.9% 1,06,878 1,18,493 10.9% Interest income 3,623 3,989 4,081 2.3% 12.6% 13,836 15,788 14.1% Finance cost 1,651 1,704 1,682 -1.3% 1.9% 6,390 6,820 6.7% Net Inte
Slide 24: Segment P&L Statement FY26
Segment P&L Statement FY26 INR Crores Particulars Lending BPO Total Interest income 15,788 - 15,788 Finance cost 6,820 - 6,820 Net Interest Income 8,968 - 8,968 Non Interest Income 1,417 1,224 2,641 Net Income 10,386 1,224 11,610 Employee cost* 2,823 1,091 3,914 Other Operating Expenses 1,443 52 1,4
Slide 25: Balance Sheet
Balance Sheet INR Crores As at As at Particulars March 31, 2025 March 31, 2026 Cash and cash equivalents 950 1,246 Bank balances other than above 34 427 Derivative financial instruments 108 1,337 Trade receivables 225 296 Loans (Net) 1,03,343 1,14,690 Investments 2,060 3,748 Other financial assets 4
Slide 26: Income Metrics – Lending Business
Income Metrics – Lending Business Net Interest Income Non-Interest Income INR Crores INR Crores 2,399 QoQ 5.0% QoQ -2.0% 2,285 371 YoY 21.6% 378 1,973 340 YoY 9.1% Mar-25 Dec-25 Mar-26 Mar-25 Dec-25 Mar-26 Yield, COF & NIM (%) Net Total Income INR Crores 7.55 8.09 8.23 13.87 14.12 14.01 QoQ 4.0% 2,6
Slide 27: Operating Expenses – Lending Business
Operating Expenses – Lending Business Operating Expenses Cost-to-Income Ratio INR Crores 1,109 1,094 42.9% 39.5% * 39.5% 992 359 385 332 Mar-25 Dec-25 Mar-26 56 Opex to Avg. Gross Loans (annualized) 660 694 709 3.8% 3.8% 3.7%* Mar-25 Dec-25 Mar-26 Mar-25 Dec-25 Mar-26 Employee Cost Other Operating E
Slide 28: Profitability Metrics
Profitability Metrics Pre-Provisioning Operating Profit (Lending) Profit Before Tax INR Crores INR Crores 1,011 860 21 704 18 1,675 QoQ 7.8% QoQ 17.5% 18 1,555 991 YoY 43.6% 1,320 YoY 26.9% 842 687 Mar-25 Dec-25 Mar-26 Mar-25 Dec-25 Mar-26 Lending BPO Services Profit After Tax INR Crores QoQ 16.6% 7
Slide 29: Return Metrics
Return Metrics Return on Assets Return on Equity 14.8% 2.5% 13.6% 13.2% 13.1% 2.2% 12.2% 2.0% 1.9% 1.9% Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Earnings Per Share Book Value Per Share INR 248.9 INR 9.0 239.0 225.4 233.1 7.8 6.7 7.1 7.0 198.8 Mar-25 Jun-25 Sep-25 Dec-25
Slide 30: Asset Quality (1/2)
Asset Quality (1/2) Credit Cost Loan Book Staging INR Crores INR Crores 2.4% 2.5% 2.3% Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Stage-wise Loan Book Gross Loans 1,06,878 1,09,342 1,11,409 1,14,577 1,18,493 Stage 1 1,02,735 1,04,106 1,05,794 1,09,103 1,13,823 Stage 2 1,729 2,442 2,489 2,260 1,774 QoQ -3.9%
Slide 31: Asset Quality (2/2)
Asset Quality (2/2) Vertical-wise Provision Coverage on Stage 3 Book INR Crores Mar-25 Dec-25 Mar-26 Loan Loan Loan GS3 NS3 PCR GS3 NS3 PCR GS3 NS3 PCR Book Book Book Enterprise Lending 42,006 751 321 57% 43,575 792 403 49% 44,841 708 356 50% Asset Finance 40,649 1,277 627 51% 43,524 1,884 862 54% 4
Slide 32: Key Annual Ratios
Key Annual Ratios Net Interest Margin (%) Opex Ratio (%) 7.85% 7.96% 7.56% 3.92% 3.78% 3.79% FY24 FY25 FY26 FY24 FY25 FY26 Credit Cost (%) Return on Assets (%) 2.50% 2.14% 3.03% 2.16% 2.19% 1.33% FY24 FY25 FY26 FY24 FY25 FY26 Note: NIM%, Opex Ratio and Credit Cost % are based Avg. Gross Loans; RoA i
Slide 33: Performance Through The Years
Performance Through The Years 3 Yr 10 Yr Financial Snapshot (INR Crores) FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 CAGR CAGR AUM 25,906 34,277 44,469 55,425 58,833 61,561 61,444 70,084 90,235 107,262 1,18,733 19.2% 16.4% Total Income (Lending) 3,222 4,380 5,533 7,077 8,643 8,924 8,943 9
Slide 34: Borrowings & Capital Structure
Section 5 1 Liability Franchise 2 Capital & Liquidity Metrics Borrowings & Capital Structure 3 Balance Sheet and Capital Productivity 4 Shareholding Pattern • 17 HDB Financial Services Presentation Q4 FY2026 34
Slide 35: Liability Franchise
Liability Franchise Liabilities Break-up Borrowings Overview As on Mar-26 INR Crores 6.0x 5.3x 5.0x 5.0x 5.0x Perpetual debt, 1.6% Commercial paper, 2.0% Securitsation, 3.1% Sub debt, 5.5% 7.5% 7.6% 7.3% 7.3% 6.9% 99,230 External Commercial Borrowings, 94,077 92,230 95,113 12.5% 89,682 Term loans an
Slide 36: Capital & Liquidity Metrics
Capital & Liquidity Metrics LCR 161% 151% 174% 163% 177% CRAR 19.22% 20.18% 21.82% 21.81% 21.40% 4.56% 4.53% 4.34% Tier-II Capital 4.47% 4.55% Tier-I Capital 17.26% 17.28% 17.06% 14.67% 15.71% Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Note: LCR is calculated basis daily averages for the respective quarters
Slide 37: Asset Liability Management – March 2026
Asset Liability Management – March 2026 INR Crores Inflows Outflows Over one Less than one Over 2 months Over 3 Months Over 6 Months Over 1 year Over 2 year to Over 3 years Particulars month to 2 Over 5 years month to 3 months to 6 months to 1 year to 2 years 3 years to 5 years months Inflows 16,615
Slide 38: Balance Sheet and Capital Productivity
Balance Sheet and Capital Productivity Gross Loan Book and RoA INR Crores 2.4% 2.4% 2.4% 2.3% 1.7% 3.0% 3.0% 2.2% 2.2% 3.5% 1,30,000 1.6% 0.6% 1,10,000 90,000 70,000 -1.5% 50,000 30,000 10,000 -6.5% FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Loan Book RoA % Capital Position and RoE 16.0%
Slide 39: Shareholding Pattern
Shareholding Pattern Top Institutional Holdings: Domestic ICICI Prudential MFs Kotak MFs Mirae MFs Promoter Nippon MFs Group, 74.1% SBI MFs Institutional Investors, ` 15.3% Top Institutional Holdings: Foreign Vanguard Baillie Gifford Retail & Others, Daiwa Asset Management 10.6% Government Pension F
Slide 40: Technology & Risk Management Framework
Section 6 1 Technology Stack Technology & Risk Management 2 Digital Capability Framework 3 Risk Management Framework • 17 HDB Financial Services Presentation Q4 FY2026 40
Slide 41: Technology Stack Ecosystem
Technology Stack Verification & Engagement Underwriting Documentation Servicing Disbursement Reducing Onboarding Enhanced Underwriting Faster & Safer Collections Centralized view of Minimizing Need For Time And Improving Capabilities By Larger By Directly Accessing the customer improving Customer To
Slide 42: Digital Capabilities – “HDB OnTheGo” App
Digital Capabilities – “HDB OnTheGo” App DAU: Daily active users HDB Financial Services Presentation Q4 FY2026 42
Slide 43: Leveraging AI-powered business initiatives across our organization
Leveraging AI-powered business initiatives across our organization Key Use Case – AI in early bucket collections AI-Powered Bot Calling AI-Led Quality Check Scalable & Consistent Customer Outreach AI powered outreach Analyzes calls for compliance, tone & effectiveness Performance efficiency Prioriti
Slide 44: Risk Management Framework
Risk Management Framework Business / Information Operational Risk Reputation Risk Credit Risk Interest Rate Risk Liquidity Risk Compliance Risk Technology Risk Strategic Risk Security Risk Mange risks via Operational Risk Manage risks Manage risks by Manage risks by Asset Liability Manage, identif
Slide 45: Sustainability Initiatives
Section 7 1 Environment, Social & Governance (ESG) Sustainability Initiatives 2 Corporate Social Responsibility (CSR) • 17 HDB Financial Services Presentation Q4 FY2026 45
Slide 46: ESG Framework
ESG Framework Integrate ESG Ideology: Embedding the Company’s ESG ideology and identifying ESG related risks and adverse incidents that can the affect business operations Ethical Conduct: Conduct business ethically having value driven approach in decision making Stakeholder Commitment: Demonstrat
Slide 47: ESG Priorities
ESG Priorities Climate & Sustainable People and Customer Social Stakeholder Good Resources Sourcing Culture Focus Impact Trust Governance HDB Financial Services Presentation Q4 FY2026 47
Slide 48: ESG Highlights
ESG Highlights ENVIRONMENT SOCIAL 1 Achieved ISO 27001:2022 Certification for a robust Information Security Management System Launched "TRINETRA" (IT Command Centre) to strengthen our technology operations and Cybersecurity posture 4 2 ESG & CSR committee at the Board level and ESG policy framework
Slide 49: Corporate Social Responsibility – Key Highlights
Corporate Social Responsibility – Key Highlights ₹ 2,800 Mn+ Spent on CSR Initiatives 100+ Social & Environmental Projects Supported 77 Partners Empaneled 11 CSR Programs Note: Figures since inception HDB Financial Services Presentation Q4 FY2026 49
Slide 50: Corporate Social Responsibility – Key Highlights
Corporate Social Responsibility – Key Highlights > 16,00,000 > 5,60,000 > 21,000 lives impacted through initiatives in the areas of trees planted to create carbon sinks, promote tons of waste diverted from entering into landfills healthcare, livelihoods, environment & others afforestation, and creat
Slide 51: CSR: Intervention Themes
CSR: Intervention Themes Environment (Water + Waste + Plantation) Reviving Depleting Lakes Building Water Harvesting Structures Promoting Waste Management Tree Plantation Drives Healthcare (Preventive + Curative + Capacity) Physiotherapy for Truck Drivers Maternal Child Health & Nutrition Free OPD S
Slide 52: Safe Harbour Statement
Safe Harbour Statement Certain statements are included in this release which contain words or phrases, such as ‘will’, ‘aim’, ‘will likely result’, ‘believe’, ‘expect’, ‘will continue’, ‘anticipate’, ‘estimate’, ‘intend’, ‘plan’, ‘contemplate’, ‘seek to’, ‘future’, ‘objective’, ‘goal’, ‘project’, ‘s
Slide 53: Thank You
Thank You For More Information please contact: Email: investorcommunications@hdbfs.com HDB Financial Services Presentation Q4 FY2026
HDB Financial Services — Q4 FY2026 Earnings Presentation on 6ix