Hdb Financial Services Limited · NSE:HDBFS
Hdb Financial Services — Q2 FY27 Earnings Presentation
54 slides from Hdb Financial Services's earnings presentation, Oct 14, 2026
Slide 1: Covering letter to stock exchanges
HDB Financial Services Limited HDB House, Tukaram Sandam Marg, A - Subhash Road, Vile Parle (E), Mumbai – 400057. Web: www.hdbfs.com Tel: 022 – 4911 6350 Fax: 022 – 4911 6666 CIN: L65993GJ2007PLC051028 Email: investorcommunications@hdbfs.com HDB/SLC/2026/1536 October 14, 2026 To, To, Listing Complia
Slide 2: Q2 FY27 Earnings Presentation
Q2 FY27 Earnings Presentation October 14, 2026
Slide 3: Presentation Path
Presentation Path 01 03 05 07 BORROWINGS HDB SUSTAINABILITY ABOUT HDB & CAPITAL OVERVIEW INITIATIVES STRUCTURE TECHNOLOGY & EXECUTIVE FINANCIAL RISK SUMMARY – PERFORMANCE – MANAGEMENT Q2FY27 Q2FY27 FRAMEWORK 02 04 06 HDB Financial Services Presentation Q2 FY2027 2
Slide 4: 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 Q2 FY2027 3
Slide 5: 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 6: 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 7: The Essence of HDB … Our Vision and Mission
The Essence of HDB … Our Vision and Mission • 17 HDB Financial Services Presentation Q2 FY2027 6
Slide 8: 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 9: 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 10: Executive Summary Q2FY27
Section 2 1 Key Parameters Executive Summary Q2FY27 2 Key Highlights – Q2FY27 • 17 HDB Financial Services Presentation Q2 FY2027 9
Slide 11: Key Parameters – Q2 FY27
Key Parameters – Q2 FY27 Gross Loan Book Net Interest Margin: 8.23% ₹ 1,24,469 Cr Q2 PAT Gross NPA: 2.43% ₹ 780 Cr Net NPA : 1.09% Return on Assets: 2.42% Earnings/share : ₹ 9.4 Return on Equity : 14.4% Book Value/share: ₹ 266.7 1,701 Branches across 24.8 MM Customers 1,156 Cities/ Towns HDB Financi
Slide 12: Key Highlights – Q2 FY27 (1/3)
Key Highlights – Q2 FY27 (1/3) Business metrics Customer franchise grew to 24.8 million with an increase of 18.4% Y-o-Y and 3.9% during the quarter Gross loan book as on September 30, 2026 stood at ₹1,24,469 crores, growing 11.7% Y-o-Y and 2.2% sequentially. Secured loans comprised 74% of the Gr
Slide 13: Key Highlights – Q2 FY27 (2/3)
Key Highlights – Q2 FY27 (2/3) P&L Metrics (contd…) Credit Cost for the quarter was ₹730 crores as against ₹748 crores for the quarter ended September 30, 2025 and 697 crores for the prior quarter Profit after tax for the quarter ended September 30, 2026 was ₹780 crores as against ₹581 crores fo
Slide 14: Key Highlights – Q2 FY27 (3/3)
Key Highlights – Q2 FY27 (3/3) Return Metrics RoA (annualized) for the quarter ended September 30, 2026 stood at 2.42% RoE (annualized) for the quarter ended September 30, 2026 stood at 14.4% Earnings per share for the quarter was ₹9.4 and Book Value per share stood at ₹266.7 Borrowing Metrics
Slide 15: 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 Q2 FY2027 14
Slide 16: HDB at a glance
HDB at a glance Key Metrics (Q2FY27) One of the leading, diversified retail-focused NBFCs in India INR 1,245 Bn 24.8MM Gross Loan Customers Product portfolio serving multiple credit needs of customers across Book INR 7.8 Bn three business verticals: Enterprise Lending, Asset Finance and Consumer F
Slide 17: Key Metrics
Key Metrics Profitability and Scale Growth (QoQ/YoY) Asset Quality Returns INR 1,245 Bn 2.2% / 11.7% 2.43% INR 7.8 Bn Gross Loan Book Gross Loan Book Growth GNPA PAT 24.8 MM -0.6% / 34.2% 1.09% 2.42% Customers PAT Growth NNPA RoA 1,701 3.9% / 18.4% 2.37% 14.4% Credit Cost Branches Customers Growth R
Slide 18: Product Portfolio
Product Portfolio Loan Book Mix1 ATS2 (INR) Avg. Tenor3 Customer Segment Products Loan Against Enterprise Business Loan Salaried Gold Loans Enterprise Property Business Loan Personal Loan Lending 22% 4.6MM ~10 yrs 2% 1.4MM ~9 yrs 9% 306K ~4 yrs 3% 360K ~5 yrs 2% 321K ~3 yrs INR 1,245 BN2 Gross Loan
Slide 19: Loan Book Mix
Loan Book Mix Product Mix Geographic Mix Micro Lending Uttar Pradesh Tamil Nadu Relationship PL 2W Loans 8% 0% 14% 12% Auto Loans Loan Against (Used) 3% 22% Property Others 2% Auto Loans Uttarakhand 2% Maharashtra (New) Chhattisgarh 1% 7% 1% 9% Odisha 2% Assam 2% Consumer Enterprise Durables 6% 2% B
Slide 20: 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) 1,701 31 Tier 1 Branches States and UTs 11% Tier 2 54 Punjab 17 9% Himachal 3 Pradesh Tier
Slide 21: Customer Franchise
Customer Franchise Customer Franchise Growth New Customers Added (MM) Granular Loan Book… …With a Low Customer Concentration 1.6x 24.8 22.9 19.2 ~INR ~0.33% 15.8 160,000 Average Ticket Size of of Gross Loan Book from 20 Overall Loan Book Largest Customers Mar-24 Mar-25 Mar-26 Sep-26 HDB Financial Se
Slide 22: Financial Performance & Return Metrics Q2FY27
Section 4 1 Disbursement & Gross Loan Book Mix 2 Profit & Loss Statement Financial Performance 3 Return Metrics Q2FY27 4 Asset Quality 5 Performance through the years • 17 HDB Financial Services Presentation Q2 FY2027 21
Slide 23: Disbursement and Gross Loan Book Mix
Disbursement and Gross Loan Book Mix Disbursements Gross Loan Book INR Crores INR Crores 19,922 121,846 124,469 118,493 18,522 114,577 17,917 111,409 17,629 25.5% 25.8% 15,599 24.4% 38.5% 23.6% 24.0% 40.7% 42.5% 48.9% 39.8% 37.7% 36.9% 36.6% 38.0% 38.0% 30.5% 32.4% 28.1% 32.4% 25.7% 38.4% 38.0% 37.8
Slide 24: Gross Loan Book Mix – Product wise
Gross Loan Book Mix – Product wise INR Crores Particulars As at September 30, 2025 As at June 30, 2026 As at September 30, 2026 Loan Against Property 24,033 26,422 27,195 Enterprise Business Loan 2,060 2,365 2,525 Business Loan 12,181 11,497 11,558 Salaried Personal Loan 3,592 3,584 3,547 Gold Loan
Slide 25: Profit & Loss Statement
Profit & Loss Statement INR Crores Particulars Q2FY26 Q1FY27 Q2FY27 QoQ YoY Gross Loan Book 1,11,409 1,21,846 1,24,469 2.2% 11.7% Interest income 3,887 4,262 4,351 2.1% 11.9% Finance cost 1,694 1,753 1,817 3.6% 7.3% Net Interest Income 2,192 2,509 2,534 1.0% 15.6% Non-Interest Income 339 363 357 -1.
Slide 26: Segment P&L Statement
Segment P&L Statement INR Crores Particulars Q2FY26 Q1FY27 Q2FY27 Lending BPO Total Lending BPO Total Lending BPO Total Interest income 3,887 - 3,887 4,262 - 4,262 4,351 - 4,351 Finance cost 1,694 - 1,694 1,753 - 1,753 1,817 - 1,817 Net Interest Income 2,192 - 2,192 2,509 - 2,509 2,534 - 2,534 Non I
Slide 27: Income Metrics – Lending Business
Income Metrics – Lending Business Net Interest Income Non-Interest Income INR Crores INR Crores 2,534 2,509 QoQ 1.0% QoQ -1.6% 2,192 YoY 15.6% 363 357 339 YoY 5.5% Sep-25 Jun-26 Sep-26 Sep-25 Jun-26 Sep-26 Yield, COF & NIM (%) Net Total Income INR Crores 7.95 8.35 8.23 14.08 14.19 14.13 QoQ 0.7% 2,8
Slide 28: Operating Expenses – Lending Business
Operating Expenses – Lending Business Operating Expenses Cost-to-Income Ratio INR Crores 1,146 1,135 40.7% 39.9% 39.3% 1,029 386 389 350 Sep-25 Jun-26 Sep-26 Opex to Avg. Gross Loans (annualized) 759 747 679 3.7% 3.8% 3.7% Sep-25 Jun-26 Sep-26 Sep-25 Jun-26 Sep-26 Employee Cost Other Operating Expen
Slide 29: Profitability Metrics
Profitability Metrics Pre-Provisioning Operating Profit (Lending) Profit Before Tax INR Crores INR Crores 1,055 1,044 26 18 782 1,756 QoQ 1.7% 29 QoQ -1.1% 1,726 1,029 1,026 1,502 YoY 16.9% YoY 33.4% 753 Sep-25 Jun-26 Sep-26 Sep-25 Jun-26 Sep-26 Lending BPO Services Profit After Tax INR Crores QoQ -
Slide 30: Return Metrics
Return Metrics Return on Assets Return on Equity 14.8% 15.0% 14.4% 2.5% 2.5% 2.4% 13.1% 2.2% 12.2% 1.9% Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Earnings Per Share Book Value Per Share INR INR 9.0 9.5 9.4 266.7 248.9 256.7 7.8 233.1 239.0 7.0 Sep-25 Dec-25 Mar-26 Jun-26
Slide 31: Asset Quality (1/2)
Asset Quality (1/2) Credit Cost Loan Book Staging INR Crores INR Crores 2.71% 2.32% 2.37% Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Stage-wise Loan Book Gross Loans 1,11,409 1,14,577 1,18,493 1,21,846 1,24,469 Stage 1 1,05,794 1,09,103 1,13,823 1,16,704 1,18,876 Stage 2 2,489 2,260 1,774 2,290 2,571 QoQ 4.
Slide 32: Asset Quality (2/2)
Asset Quality (2/2) Vertical-wise Provision Coverage on Stage 3 Book INR Crores Sep-25 Jun-26 Sep-26 Loan Loan Loan GS3 NS3 PCR GS3 NS3 PCR GS3 NS3 PCR Book Book Book Enterprise Lending 42,856 826 395 52% 45,742 741 378 49% 46,832 761 401 47% Asset Finance 42,292 1,800 865 52% 45,009 1,605 733 54% 4
Slide 33: Performance Through The Years (1/2)
Performance Through The Years (1/2) 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
Slide 34: Performance Through The Years (2/2)
Performance Through The Years (2/2) 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% 15
Slide 35: Borrowings & Capital Structure
Section 5 1 Liability Franchise 2 Capital & Liquidity Metrics Borrowings & Capital Structure 3 Asset Liability Management 4 Shareholding Pattern • 17 HDB Financial Services Presentation Q2 FY2027 34
Slide 36: Liability Franchise
Liability Franchise Liabilities Break-up Borrowings Overview As on Sep-26 INR Crores 5.0x 5.0x 5.0x 5.0x 4.9x Commercial paper, 3.9% Perpetual debt, 1.5% Securitsation, 5.7% 7.27% 7.28% 7.04% 6.93% 6.97% Sub debt, 5.0% 1,02,134 1,04,441 99,230 92,230 95,113 External Commercial Borrowings, Term loans
Slide 37: Capital & Liquidity Metrics
Capital & Liquidity Metrics LCR 174% 163% 177% 159% 164% CRAR 21.82% 21.81% 21.40% 21.29% 21.37% 4.56% 4.53% 4.34% 4.14% 4.01% Tier-II Capital Tier-I Capital 17.26% 17.28% 17.06% 17.15% 17.36% Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Note: LCR is calculated basis daily averages for the respective quarters
Slide 38: Asset Liability Management – September 2026
Asset Liability Management – September 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 14
Slide 39: Shareholding Pattern
Shareholding Pattern Top Institutional Holdings: Domestic Mirae MFs Kotak MFs ICICI Prudential MFs Promoter SBI MFs Group, 74.1% Nippon MFs Institutional Investors, ` 16.0% Top Institutional Holdings: Foreign Vanguard MFS Investment Management Retail & Others, Baillie Gifford 9.9% Daiwa Asset Manage
Slide 40: Technology & Risk Management Framework
Section 6 1 Technology Stack Technology & 2 Digital Capability Risk Management Framework 3 Shikhar: AI-Powered Transformation Journey 4 Risk Management Framework • 17 HDB Financial Services Presentation Q2 FY2027 39
Slide 41: Technology Stack
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 / MAU: Daily active users / Monthly active users HDB Financial Services Presentation Q2 FY2027 41
Slide 43: Shikhar: AI-Powered Transformation Journey
Shikhar: AI-Powered Transformation Journey ENHANCING CUSTOMER JOURNEYS | DRIVING EFFICIENCIES | DELIVERING MEASURABLE IMPACT FOCUS AREA SHORT TERM (FY27+) SHORT TERM IMPACT MEDIUM TERM (FY29+) MEDIUM TERM IMPACT • AI-powered document 500K processing for CD, 1.5x Documents/day Digital Product Loans 1
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 Q2 FY2027 44
Slide 46: ESG Framework
ESG Framework Integrate ESG Ideology Impact Reporting Embedding the Company’s ESG ideology and Reporting the measurable impacts of identifying ESG related risks and adverse incidents business activities on the environment that can the affect business operations. and society. Ethical Conduct ESG Robu
Slide 47: ESG Priorities
ESG Priorities HDB Financial Services Presentation Q2 FY2027 46
Slide 48: Our ESG Ratings – FY26
Our ESG Ratings – FY26 RATING AGENCY CRISIL SES NSE SUSTAINALYTICS NEGL LOW MED HIGH SEVERE 0-10 10-20 20-30 30-40 40-50 RATINGS 68/100 71.7/100 68/100 21.2 STRONG GOOD ASPIRING MEDIUM RISK Indicates strong ESG Indicates early stage ESG maturity Indicates medium ESG risk MEANING performance Indicate
Slide 49: ESG Highlights
ESG Highlights ENVIRONMENT SOCIAL 1 CSR & ESG committee at the Board level and ESG policy framework approved by Board members Assigned ESG rating of 21.2 by Sustainalytics underscoring our robust risk management and ESG practices (lower score is better). 4 2 More than 75 % independent directors on t
Slide 50: Corporate Social Responsibility – Key Highlights
Corporate Social Responsibility – Key Highlights ₹ 3,098 Mn Spent on CSR Initiatives 100+ Social & Environmental Projects Supported 78 Partners Empaneled 14 CSR Programs Note: Figures since inception HDB Financial Services Presentation Q2 FY2027 49
Slide 51: Corporate Social Responsibility – Key Highlights
Corporate Social Responsibility – Key Highlights > 16,54,000 > 6,30,000 > 24,464 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 52: CSR: Intervention Themes
CSR: Intervention Themes Environment (Water + Waste + Plantation) Promoting Waste Management Reviving Water bodies Water Conservation Measures Tree Plantation Drives Healthcare (Preventive + Curative + Capacity) Physiotherapy for Truck Drivers Maternal Child Health & Nutrition Free OPD Services in R
Slide 53: Safe Harbour Statement
Safe Harbour Statement This presentation has been prepared by Company based on information available to them and the information contained herein has not been independently verified. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in neg
Slide 54: Thank You
Thank You For More Information please contact: Email: investorcommunications@hdbfs.com HDB Financial Services Presentation Q2 FY2027
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