Financial Results for the quarter and year ended March 31, 2026.

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HDFC BANK LIMITED

CIN : Le6920kTH199aPLC08oe1 e

Sandoz Houae, ShIveag¥r Estate, Dr. Annie Best nt Road, Worll, Mumbel 400 016. WobeTle• hMps:7/https://www.hdfc.bank.Ifi, Tel.: 022- 6662 4000, P•a*: 022• 2d98 0739

STANDALONE FJNANC IAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026

MU BAI

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MUMBAI

Regd. Offlee • HDFS Ban js Lta., Harc Bark House. Oenapatj Bapat Marg, Lower Pared (Weet}, Mumbel - 400013.

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Slandalone Segmenf informallon In accordance with lhe RBI guidelines and AccoMnling Standard 17 - SegmenI Reporting of jhe operating segments of the Bank Is as under:

'/nfoma/ion o6ofl/ Digital 8cn/‹ing Segmrnl mpor/ed os a syfi-segment o/ Rela‹/ 0an/‹ing segmenl is re/owed /o Dm iaT Banking t/n*Is of /fie Bond. Segment Pesu/fs andLioo//i//es /orme yrar ended March 3I, zozs are after considering inc /mpac/ of/Toa/7np provisions in Me rerpeclive segmen/s

Business Segments have been identified and reported taking into accounf the larget customer profile, tfie nature of products and services. the diffeñng ñsks and returns, the organisation slnjcture, the inlemaT business reporting system and Ihe guidelines prescribed by jhe RBI. The Segmenf Assels and Segment Liabilities exclude transfers beMeen segments and are transfer priced on a gross basks.

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Notos :

1 Standalone slatemonI of Assets and Liabilities is given below:

g|n crore)

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4 These financial resMlls have been prepared in accordance wilh the recognIlion and measuremenl pñn aiples laid down in Accounting Standards specified under Section 133 of the Companies Act, 2013, The retevanI provisions of lhe Banking Regulation Act, 1949, the circulars, guidelines and directions Issued by The Reserve Bank of India ("lhe RBI') from lime to time and other a acounting pñnciples generally accepted in Indin, and are In compliance wilh the presenlallon and disclosure requirements of the Regulation 33 and Regulation 62 read with RegMlallon 63 of the Securities and Exchange Board of India (Listing Obligallons and Disclosure Requirements) Regelations, 2015 ("SEBI Regulations") as amended inclMdlng relevant circular issued by the SEBI from time lo time, Io Cha extent applicable. Basis nature of lhe Bank's business, appIlcab|o rajlos under lhe said regulallons are disclosed.

:1, j.e. 1 (One) bonus eguily share ol T 1J- eaclj lor every 1 (One} futy paid-up equily share held as on lhe record dale, Accordingly, lhe Bank fias a))olted 7,67,70,39,761 equity shares as bonus shares on Augusl 28, 20Z5 by utilisation of share premium, All shares and per share Infonn allon in the financial results reflect the effect of bonus shares issuance refrospectively.

oplions / unils Mnder fhe approved employee sjock oplion schemes / employee stock Incenlive master scheme.

1. Duñng the year ended March 31, 2026, fhe Bank fjas rrlage a floating provision of ¥ 9,000.00 crore In line with the Board approved policy.

2. Disclosure under resolulion framework for COVlD-19-reIaled slress as al March 31. 2026, as per lhe Reserve Bank of India (Commercial Banks - Financial

   Sfnlemen]s: Presenfallon and Disclosures) Directions, 2025 dafed November 28, 2025, ara given below:

   (¥ jn crore)

   Type of Borrower	Exposure to accounls classified as Standard consequenI to Implementation of resolution plan -Position as at the end of Ihe previous half-year i.e. Sepember 30, 2025 (A)'	Of (A), aggregale debl thai slipped Into NPA dM?D9 tfie fialf•year ended March 31, 2026	Of (A) amount written off during lhe half-year'	Of (A) amount paid by the borrowers during the half-year	Exposure io classified as Standard consequenf to mplemen]alion of resoluflon plan - Pos1Iion as af jhe end of this half-year I.e March 31, 2026^
   Personal Loans	2,343.34	36.48	10.07	339.4Q	4,967.45
   Corgomte persons*	197.22	0.38	0.30	23.S7	173,47
   of whl*h, M5MEs	21.1•			5 04	15 2?
   Others	167.25	1.76	1,13	34.20	131.29
   Total	2,707 B1	3e 63	11.49	396.97	2,272.21

   
   
   

   Ropfcsonts dobt that slipped Inl» NPA and neo agbsequonlly written off durlny tho half- year ondad March 31, 2026.

   ' Gclv4oa olhor Iccllitles la ne bocowers aggregallng t« z ‹ss ss croro as of March »J,zozs and T zzz.of croro os ol Seplomber 30,202S whlcfi fiave not baen rasTru<1urod

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3. Disclosures on Ihe details of loans transferred / acquired and co-lending arrangements during the quarler ended Merch 31, 2026, as per lhe Rosorve Benk of Indla (Commercial Banks - FTnencial Stafomenls: Presenlation and Disdosures) Direclions, 2025 deted November 28, 2025, are given below:

   1. Details of non-performing essets (NPAs) Irensferred: T In croro excopt numbor ef accounts

      	To Asset Reconstruction	To pormltted	To othor
      	Companlee	tranaforeoe	tranaforeee
      	{ARCe}
      Number of accounts	22.00	-
      Aggregele principal outstanding of Toens trensforred	16.33	-
      Weighted average residual tenor of the loans transferred (io yeqrs)		-
      Net book value of loans transferred (at the IIme of transfer)		-
      Aggregete consideration	1s.33	-
      Additional consideration realised in respect of eccounls transferred In eai1Ier years	1z.8s	-

      The Bank has reversed the oxcess provision of £ 16.33 crore to Profi! and Loss account on sale of the aforesaid loans.

   2. The Bank has not Transferred / acquired any loans nol in default.

      (lii) The Bank has not acqulred any stressed loans (Non-performing assels afid Special Mention Accounts).

      1. The Bank has not Transferred eny Specia| Menlion Accounls.

      2. Details of ralings of Securily Receipts {0Rs) outsland)ng as on March 31, 2026 are glven below:

         (I IO CfOF6)

         	Rating Agency	Recovery rating	Groae Velue of Outztandjng
         RR5	India Ratings	Uplo 25°4	125.89
         RR2	India Ratings	75°é - 100"é	27.32
         RR5	CRISIL	Upfo 2*i"4	31.58
         RR1*	India Ratings	More than 150%	0.15
         RR4	Indla Rellngs	25°/ - 50"é	35.26
         RR1	ICRA	100"4 - 150"4	117.78
         Unraled			719.90
         		Total	't,067.89

      3. The Bank has not enfsred into eny co-lending transactions during the quarter.

4. Disclosure related to Project Flnence for the quarter onded March 31,2026, as per lhe Reserve Benk of India (Commercie) Banke - Financial Stalements Presentation and Disclosures) Dlrecllons, 2025 dated November 28, 2025. is given below:

   Item Deacñptlon		Total outstanding
   Projects under implemenlat on accounts at the beginning of the quartos	428	23 515.79
   2. Projects under implemenlation accounts sanctioned during the querler	73	1,316.60
   Projects under +mpIementat‹on accounts where DCCO has been echiev6d during the quarter	54	2,412.27
   4. Projects under Implemenlation accounts af the end of the quarter	447	24,472 62
   Out of '4 -accounts in respect of which resolufion process Involving extension in original / exlended DCCO, as the case may be has boen invoked	41	1.fi55.32
   5.1. Out of '5' - accounts in respecl of which Resolulion p|an has been imp|emenIed	31	1. t44.13
   5.2. Out of '5' - accounts In respect of which Resolulion plan is under imp|emenIation	10	411.18
   5,3. Out of '5' - accounts in respecl of wfi)ch Resolutlon plan hes feiled
   6. Oul of '5', accounts in respect of which resolution process involving extenslon in origlnal / exlended DCCO, es the case mey be has been invoked due to change In scope and slze of the project
   7. Oul of '5', account n respect of which cost overrun associeted with extension in original / extended DCCO, as the case may be. was funded
   7.1. Out of '7', eccounls where SBCF was sanctioned dur ng financial closure and renewed continuously
   7.2. Out of '7', accounts where SBCF was nof pre-sanclloned or renewed conlinuously
   e. Oul of '4' - accounts In respecf of which resolulion process not involving axtonsion in origlnal / extended DCCO. es the case may be hae been Invoked	"	-
   .1. Out of '8' - accounts In respect of which ResolulTon plan free been Implemented	"	-
   82. Oul of '8' -accounts in respect of which Resolution plen Is under jmplemenlation	"	-
   8.3, Out of '8' - accounts in respmt of whlch Resolution plan hes failed	-	-

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5. Olher income includes commission Income from non-fund based banking activities, fees, earnings from foreign exch ange and derivative tmnsaclions, profit and loss (including revaluation) from Inveslmenls, dividends from subsidlañes and recoveries from accounls previously wrillen oil,

6. On June 25. 202d, the Bonk's subsidiary company, HDB Flnanclal Services Limited ("HDBFS") launched ils InilTal public olfering ("IPO"), compfised of a fresh Issuance of eqMily shares aggregating to T 2.500.00 crore and an offer for sale ("OFS") of equity shares by lhe Bank, aggregating lo T 10,000.00 crore. Under the OFS, the Bank dives(ed 13,51,3d.135 eqully shares of T 10/- each of HDBFS at T 74 0/- per share, for a consTderalion aggregating to T t0,000.00 crore, Consequenlly, the nel gain to lhe Bank on sale of shares under the OFS Is T 9.179.40 crore (before lax and net of IPO related expenses) during lhe year ended Marah 31, 2026.

7. On November 21, 202fi, the Governmenl of Jndia notified four Labour Codes - fhe Code on Wages, 2019, the Induslñal Relations C ode, 2020, the Code on Soolal Security, 2020, and lfie Occupational Safely, Heallh and Working Condilions Code, 2020, collectively referred fo as tlje 'New Labour Codes', consotidallng 29 existing laboMr laws. Tne Mlnlslry of Labour 6 Employment published drafi Central Rules and FAQs on December 30, 20z5, lo facilitate assessmenf of the financial Impacl añslng mom lhese regulafory changes. Accordingly, the Bank has recognised an eslTmaled incremental impact of £ 800.00 arore under 'Employees cost' in the Profil and Loss Account during lhe quartet ended December 31, 2025 and year ended March 31, 20Z6, considering best Information available. The Bank conlinues lo monltor the finalisation of Cenlral and State Rules and clañficatlons from the Government on the Nes' Labour Codes nnd would provide appropriate acaounling ellect on IIie basks oT such developments, as needed.

8. At Its meeling held on Apñl 16, 2026, the Board of Directors of the Bank approved an investment of up to 71,000.00 crore In the proposed preferential issue of equity shares by HDFC Life Insurance Company Llmiled, a subsidiary of the Bank, In one or more branches. The TnvestmenI will be made In accordance wilh applicable SEBI ICDR RegulalTons and Is sMbjecl lo necessary approvals, including from Ihe Reserye Bank of India.

!8 Provision lot Fax during Ihe year ended March 31, 2026 Is nel of wrile back of provision no longer required of T 1,144.46 crore, pursuanI to favourable orders received.

1. As inlimated to the Stock Exchanges on September is, 202fi, the Bank's branch af the Dubai IntemaTionaT Financial Cenlre ("DIFC Branch") reaelvad a decision nolice dated September 25, 2025 from jhe Oubal Financial Services Authoñ]y ("DFSA"), prohibitin g. amongsf other lljIngs, lhe branch from soliciting or conducling business with new clients for specified financial services. The prohibition does not alfect servicing of existing customers and will remain In place unlll otherwise amended or revoked in wñtlng by DUSA. The Bank Is jakfng necessary steps lo comp]y with lhe dlrecives in the above-refe+red notice,

   The business underlaken at fhe DIFC Branch Is nof maleriul Io the Bank's operalions or ils financial position and accordingly no mateñal Impacl Is expecl6d with respect lo lhe overall operations or financial posilTon of 1ha Bank.

2. As Inlimaled lo the Stock Exchanges on March :24, 2026. the Board of Directors of tho Bank approved the appointment of extema] law firms (domeshe and inlema lonril) to conducl a review relaled to lhe resigna1Ion lellar of lhe Bank's former Part•tIme Ghalrman and Independent Director, Mr. Alanu Chakmborty. The Bnnk does nof expecf any malerial Impact on lhe financial statements as of and for lhe year ended March 34, 2026, arising from tho external law firms' review, which Is currenlly In progress. The Bank continues to be commitfed to corporate governance standards and remains adeqMalely cap|IaIlsed in cccerdance with lhe regulalory require+Ttents.

3. Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current period's classification.

zz 7 10 million = T crore

Place: Mumbal

Dete: April 1g, 2026

Sasfildhar Jagdlshan Man aging Direclor DIN-0B614396

C, /vMMBAI p

B SR & Co. LLP

Cloti tcicd AccouiltalJts

14"' Ploor, Central B Wing and Nor th C Wing, Nesco IT Park 4, Nesco Center,

Western Express Highway, Goregaon (Eiist) Mumbai - 400.063, India

Independent Auditor's x•port

To the Board ofi Directors of HDrc o«»k Li»aed

Batliboi & Purohit Chartered Accountants N‹ition‹il Instiiance Btiilding, 2"" Floor, 204, D N Road, Fort, Mumbai - 40000.1

Opinion

We have joiHt1 aUdiled t14R OCCOnspanying standalone annual firaocia1 results of HDFC Bank Limited (hereinafter iefeiied to ‹is "the Bank") for the year ended 31 March 2026, attached herewith, being stibiiiitted by the Bank pursuant to the requirements of Regulation 33 rind Regulation 52(4) re‹id with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone annual financial iesults:

1. are presented in accordance with the requirements of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regtil‹itions, and

2. give a ti tie and fair view in conforiiiity with the recognition and measurement principles laid down in the applic‹iblc A mounting St‹indiirrls, the relevant provisions of the Banking Regul‹ition Act, 1949, the applicable circuit. i.:, master directions and gui‹ielines issued by tiie lleserve Bank of India ("RBI Guidelines") front tinge to time, and other accounting principles generally accepted in India of the standalone net profit and other financi‹il information for the year ended 3.1 March 2026.

Basis for opinion

We condiicted our joint audit in ‹accordance with the Standards on Auditing ("the SAs") specified tinder section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Standalone Annri;il Financial Results section of otir report. We are independent of the Bank in accordance witla the Code of Ethics issued by the Institute of Chartered Accountants of India ("the ICAI") together with the ethical requireiiaeiits that tire relevant to our joint audit of the stiindalone annual financial results, and we have fulfilled off other ethical i'espoiisibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by tis, is sufficient and appi opriate to provide a basis for our opinion on llie standalone annual financial results.

Page 1 of 4

B SR & Co. LLP

Chartered Accountants

Batliboi & Purohit Chartered Accountants

Management's and Board of Directors' Responsibilities for the Standalone Annunl Financial Results

These standalone annual financial results have been prepaied on the basis of the standalone annual financial st;iteirents.

The Bank's iiiilnageinent and the Board of Directors are responsible l'or the preparation and piesentation of these standalone annual financial results that give a true rind faii- view of the net profit/loss and other financial infornaati on in accordance with the iecognition and ireasureiiient principles laid down in Accounting Stand‹Utls prescribed imder Section 133 of the Act reiid with releviint rules issued thereiinder in so far as they apply to banks, the relevant provisions of the Banking Rep•iilation Act, 1949, the RBI Guidelines and other accounting principles generally accepted in India and in coiiiJiliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Reg•til‹itions. This responsibility atso includes mainteniince of adeqii ite accounting records in accordance with the provisions of the Act ‹ind the RBI guidelines for safeguarding of the assets of the Bank and for preventing and detecting frauds and other irregularities, selection and application of appropriate accountinp• policies, waking judgments and estiiniites that are reasonable and prudent, and the design, iiiipleirentation and maintenance of adeqri;ite internal financi‹il conti ols, that were operating effectively for ensuring acctu-acy and completeness of the accor@ing records, relev;@ to the prep;iration ;ind presentation of the standalone annual financi‹il results that give a true and fair view ‹ind ‹ne free front material misstatement, whether due to fraud or ei i or.

In prepai irig the stand‹ilone annuiil financial results, the iiianageinent and the Board of Directors are responsible for assessing the Bank's ability to continue as a going concern, disclosing, as applicable, iiiatters related to going concern and rising the going concern basis of accounting unless the Board of Diiectors either intends to liquidate the Bank or to cease operations, or li‹is no realistic alternative but to do so.

The Board of Directors are responsible for overseeing the Eanl‹'s financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results

Our objectives tire to oblain reasonable assur:nice about whether the standalone arinnal financial results as a whole ‹me free fi owl material iiiisstateinent, whether due to fi-aud or em or, and to issue an auditor's report that includes our opiiiion. Reasonable assurance is a high level of assurance, but is not a giiariintee that an audit conducted in accordance with SAs will always detect a iaaateriiil iiiisstateiiient when it exists. Misstateiiients can arise from fraud or eii or and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual financial rcsrilts.

As part of an audit in accordance with SAs, we exercise professional judgment and iiiaintaiii pi ofession:il skepticisna tlii origliout the audit. We also:

1. Identify and assess the risks of iiiaterial misstatement of the stand;ilone annual financial results, whether due to fraud or error, dest gn and perform audit piocedtires iesponsive to those risks, and obtain atidit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is lii glier than for one resulting from error, as fraud may

   
   
   

   B S R & Co. LLP

   Chartered Accountants

   Batliboi & Purohit Chartered Accountants

   Auditor's Responsibilities lor the Audit ofi the Standalone Annual Financial Results (contd.)

2. Obtain an tinderstiinding of internal controls relevant to the rindit in order to design audit procedures that

   ‹ii'e ‹ippropriate in the circuiiistances. Under Section 143(3)(i) of the Act, we are also responsible for expressinq• our opinion tlii-otigh a sep;irate report on the coiiiplete set of standalone financial statements on whether the Bank lists adequate internal financial controls over financial reporting with reference to standalone fin‹incial statements in place and the operating effectiveness of such controls.

3. Evaluate the approprialeness of accoiiiitinq• policies used and the reasonableness of accoiniting estimates and related disclosures in the standalone atinuiil financial results rniide by the innn0@R1UHl4t aI4d BO01'd Of Director s.

4. Conclude on the appropri‹iteness of the inanageiiient's and Board of Dir ectors' use of the going concei n basis ol' accounting and, based on the audit evidence obtained, whether a ninteri‹il uncertainty exists rel‹ited to events or conditions that iiiay c‹ist st gnificant doubt on the appropriateness of t!iis assumption. If we conclude that a iiiateri al uncertainty exists, we are required to draw attention in our auditor's repoi t to the related disclosures in the standalone annual financi ‹it results or, if such disclosures are inadequate, to iiiodify our opinion. Oui- conclusions are based on the audit evidence obtained tip to the date of our auditor's report. However, future events or conditions may cause the Bank to cease to continue as a going concern.

5. Evaluate the overall presentation, strticttii'e ‹ind content of the standalone annual fin‹incial results, including the disclosures, and whether the standalone annual financial results represent the underlying ti ansactions and events in a manner that achieves fiiir presentation.

   We conanaiiiiicate with thosc cli‹irged with governance regarding, ainonp• other iii itters, the planned scope and timing of the audit :ind sig•nificant audit tiridings, including tiny significant deficiencies in iii.::i nal control that we identify during our joint audit.

   We also provide those charged with governance with a statement that we have complied with relevant ethical reqtiireiiients regarding independence, and to communicate with them all relationships ‹ind other matters that may reasoniibly be thought to bear on our independence, and where applicablé, related safeguards.

   
   
   

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   B S R & Co. LLP

   Charter ed Accountants

   Other Matters

   Batliboi & Puroliit

   Chartered Accountants

   1. The Standalone annual financial results of the Bank foi the year ended 3 1 March 2025, were audited jointly by one of the joint auditors along with predecessor ;itiditor, who vide their report dated 19 April 2025 had expressed an unmodified opinion on those Standalone annual financi‹il results.

   2. The standalone ‹mm:il financial results include the results for the quiver ended 31 March 2026 being the balancirig figure between the audited figures in respect of the frill financial year and the published unatidited yeiir to date figures tip to the third quarter of the ctwrent finiinci‹il year which were subjected to limited review by us.

For B SR & Co. LLP

Cli‹irter‹'cl Accoimtriiit.s

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Meiiibership No.: 041870 UDIN: 26041870GBTNBN5806

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For Bntliboi & Puroliit

Cliarlei-ecl Acc'oimlaiils

Firm Registr‹ition No.: 10I 048W

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Place: Miiiiibai Date: 18 April 2026

MUMBAI

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HDFC BANK LIMITED

CIN : L6592OMH1994PLC0 0618

Sandoz HouBe, Shlveagar Eatate, Dr. Annie Besant Road, Worll, Mumbai 400 018. Website: https://www.hdfc.bank.In, Tel.: 022- 6652 1000, Fax: 022- 2496 0739

CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2028

g in crore)

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Regd. Offlce: HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Paral (Weat), Mumbai - 400013.

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Consolidated Segment information in accordance with the RBI guidelines and Accounting Standard 17 - Segment Reporting of the operating segments ot the Group Is as under:

(T in crore)

•Inforinatlon about Digital Banking Segment reported as a su6 segment ol Relail Banking Segment Is related to Dlfiiilal Banking Unils ol the Bank.

'' Includes Ihe operations o/ HDrc rife Insurance Company Limited (consolidated) ("HDFC Lits') end HDFC ERGO General Insurance Company Limited (•nDrc Ergo').

"' Segment Results and Liabiiilias for year ended March 31, 20£6 are affer considerlng Ihe impact of floating provlsions In the respective segments. " Includes he ape tions at Ihe ronso/idafed enfi//es ot the Bank, not covered in any of/fie a6ove segments.

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Notes :

1. Consolidated statement of Assets and Llabilities is given below:

   (7 In crore)

   Particulars	As at 31.03.2026	As at 31.03.2025
   	Audited	Audited
   CAPITAL AND LIABILITIES
   Capital	1539.34	765.22
   Employees stock options outstanding	4545.11	3805.19
   Reserved and surplus	579975.02	517218.98
   Mlnorlfy Interest	22384.96	16359.04
   Deposits	3099638.29	2710898.23
   Borrowings	588484.55	634605.57
   Other liabilities and provislons	252977.53	188163.66
   Pollcyholders' funds	358496.04	320601.53
   Total	4908040. 4	4392417.42
   AS3ETS
   Cash and balances with Reserve Bank of India	200707.11	144390.25
   Balances with banks and money at call and short notice	z1s.g4	Jo5557.65
   Investments	1280216.29	1186472.89
   Advances	3050783.23	2724938.16
   Fixed assets	16491.59	15257.94
   Other asssts	248623.68	215800.53
   Total	49080gO.84	4392417.42

2. Consolidated statement of Cashflows is givsn below:

   
   
   

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   (7 In croreJ

   Particulars			Year ended	Year ended
   			31.03.2026	31.03.2025
   			Audited	Audited
   Cash flows from operating aotlvltles:
   Consolidated profit after tax and minority interest			76025.97	70792.25
   Add: Provlsion for income tax			22921.99	22801.88
   Consolidated profit before Income tax and after mlnorlty interest			98947.96	93594.13
   Adjuatment for:
   Depreciation on flxed assers			4194.90	3805.2u
   Loss on revaluation of Investments			7739.96	3909.1C
   Amortisation of premium on Investments			986.17	87.07
   Profit on sale of fixed assets			(207.91)	(22.03
   (Profit) / loss on sale of investment in subsldlary			(7000.27)	8.0C
   Provlslon / charge for non performing assets			14445.98	15385.24
   Floating provisions			8000.00	-
   Provision / (write-back) for standard assets and contingencies			3210.24	(1210.63)
   Employee stock options / units expense			2228.30	2086.05
   			133545.33	117642.16
   Ad|ustmenta for:
   Increase in investments			(102572.73)	(180362.67)
   Increase in advances			(340270.74)	(169918.22)
   Increase in deposits	,		388740.06	334010.95
   Increase in other assets			(29678.54)	(10829,67)
   Increase in other liabilities and provisions			52338.92	13117.98
   Increase in policyholders' funds			34060.45	43289.99
   			136t62.75	148950.82
   Direct taxes paid (net of refunds)			(22656.37)	(19708.68)
   Net caah flows from operating activities
   			113506.38	127241.84
   Cash flowg from Investlng actlvitles:
   Purchase of fixed assets			(3889.97)	(4075.89)
   Proceeds from sale of fixed assets			527.56	100.72
   Proceeds from sale of Investment in n s) " Investment In subsidiaries (		MUMBAI	9806.00 (80.87)	192.00 (67.47)
   			/6362.72	(3850.64

   
   
   

   (Z in crore)

   Particulars	Year ended	Year ended
   	31.03.2026	31.03.2025
   	Audited	Audited
   Cash flows from financing activities:
   Increase in minority interest (including issue of ESOPs by subsidiaries)	2331.21	23B2.88
   Proceeds |rom issue of share capital	510B.50	6346.50
   Proceeds from issue of shares through subsidiary IPO (net of issue expenses)	2456.61
   Proceeds from issue of Tier 1 and Tier 2 capital instruments	700.00	11B2.00
   Repayments of Tier 1 and Tier 2 capital instruments	-	(500.00)
   Repayments from other borrowings (net)	(48895.19]	(97062.73)
   Dividend paid during the year Net cash flow used in financing activities	(20705.9B]	(14826.19)
   	(59004.85	(102477.54
   Effect of fluctuation in foreign currency translation reserve	1113.90	199.73
   Net increase in cash and cash equivalents
   	61978.15	21113.39
   Cash and cash equivalents at the beginning of the year	249947.90	228834.51
   Cash and cash equivalents at the end of the year	311926.05	249947.90

   Cash and cash equivalents includes Cash and balances with Reserve Bank of India and Balances wilh banks and money at call and short notice.

3. The above financial results represent the consolidated financial results of HDFC Bank Limited and its subsidiaries including Employee Welfare Trust ('EWT') which is consolidated as a subsidiary (together referred to as the "Group" herein). These financial results have been approved by the Board of Directors of the Bank at its meeting held on April 18, 2026. The financial results for the year ended March 31, 2026 have been subjected to an audit by the joint statutory auditors of the Bank viz. Batliboi & Purohit, Chartered Accountants and B S R & Co. LLP, Chartered Accountants. The financial results for the year ended March 31, 2025 were audited by the Bank's joint statutory auditors - Price Waterhouse LLP, Chartered Accountants and Batliboi & Purohit, Chartered Accountants.

4. These financial results have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standards specified under Section 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India ("the RBI") from time to time, the Insurance Regulatory and Development Authority of India ("IRDAI") to the extent applicable for insurance entities and other accounting principles generally accepted in India and these financial results are in compliance with the presentation and disclosure requirements of the Regulation 33 and Regulation 52 read with Regulation 63 of the Secui ities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Regulations") as amended including relevant circulars issued by the SEBI |rom time to time, to the extent applicable.

5. The Group has applied significant accounting policies in the preparation of these consolidated financial results consistent with those followed in the annual consolidated financial statements. Any relevant circular / direction issued by the RBI and other regulator(s) is implemented prospectively when it becomes applicable, unless specifically required under that circular / direction.

7 During the year ended March 31, 2026, the shareholders of the Bank have approved, through postal ballot, the issuance of bonus shares, in the proportion of 1:1, i.e. 1 (One) bonus equity share of 7 1/- each for every 1 (One) fully paid-up equity share held as on the record date. Accordingly, the Bank has allotted 7,67,70,39,761 equity shares as bonus shares on August 28, 2025 by utilisation of share premium. All shares and per share information in the financial results reflect the effect of bonus shares issuance

retrospectively.

AI

We understand your world

1. During the year ended March 31, 2026, the Bank has made a floating provision of 7 9,000.00 crore in line with the Board approved policy.

2. On June 25, 2025, the Bank's subsidiary company, HDB Financial Services Limited ("HDBFS") launched its initial public offering ("IPO"), comprised of a fresh issuance of equity shares aggregating to 7 2,500.00 crore and an offer for sale ("OFS") of equity shares by the Bank, aggregating to 7 10,000.00 crore. Under the OFS, the Bank divested 13,51,35,135 equity shares of 7 10/-each of HDBFS at 7 740/- per share, for a consideration aggregating to 7 10,000.00 crore. In the Consolidated Financials, profit on sale of investment is considered as the difference between the sale consideration and the Bank's share in the carrying amount of HDBFS's net assets (to the extent of sale), as of the date of sale. Consequently, the net gain to the Bank in the Consolidated Financials, on sale of shares under the OFS is T 7,000.27 crore (before tax and net of IPO related expenses) during the year ended March 31, 2026.

3. On November 21, 2025, the Government of India notified four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Heallh and Working Conditions Code, 2020, collectively referred to as the 'New Labour Codes', consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs on December 30, 2025, to facilitate assessment of the financial impact arising from these regulatory changes. Accordingly, the Group has recognised an estimated incremental impact of 7 1,037.28 crore under 'Employees cost' in the Profit and Loss Account during the quarter ended December 31, 2025 and year ended March 31, 2026, considering best information available. The Group continues to monitor the finalisation of Central and State Rules and clarifications from the Government on the New Labour Codes and would provide appropriate accounting effect on the basis of such developments, as needed.

4. Other income includes commission income from non-fund based banking activities, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments, and recoveries from accounts previously written off.

5. As intimated to the Stock Exchanges on September 26, 2025, the Bank's branch at the Dubai International Financial Centre ("DIFC Branch") received a decision notice dated September 25, 2025 from the Dubai Financial Services Authority ("DFSA"), prohibiting, amongst other things, the branch from soliciting or conducting business with new clients for specified financial services. The prohibition does not affect servicing of existing customers and will remain in place until otherwise amended or revoked in writing by DFSA. The Bank is taking necessary steps to comply with the directives in the above-referred notice.

   The business undertaken at the DIFC Branch is not material to the Bank's operations or its financial position and accordingly no material impact is expected with respect to the overall operations or financial position of the Bank.

6. As intimated to the Stock Exchanges on March 24, 2026, the Board of Directors of the Bank approved the appointment of external law firms (domestic and international) to conduct a review related to the resignation letter of the Bank's former Part-time Chairman and Independent Director, Mr. Atanu Chakraborty. The Bank does not expect any material impact on the financial statements as of and for the year ended March 31, 2026, arising from the external law firms' review, which is currently in progress. The Bank continues to be committed to corporate governance standards and remains adequately capitalised in accordance with the regulatory requirements.

7. At its meeting held on April 16, 2026, the Board of Directors of the Bank approved an investment of up to T1,0.00.00 crore in the proposed preferential issue of equity shares by HDFC Life Insurance Company Limited, a subsidiary of the Bank, in one or more tranches. The investment will be made in accordance with applicable SEBI ICDR Regulations and is subject to necessary approvals, including from the Reserve Bank of India.

8. In accordance with the RBI guidelines, banks are required to make consolidated Pillar 3 disclosures including leverage ratio, liquidity coverage ratio and net stable funding ratio under the Basel III Framework. These disclosures would be available on the Bank's website at the following link: https://www.hdfc.bank.in/about-us/regulatory-disclosures. The disclosures have not been audited by the statutory auditors.

9. Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current period's classification.

   O

   MUMBAI

   MU BAI

   
   
   

10. 7 10 million = T 1 crore

Place: Mumbai Date: April 18, 2026

Sashidhar Jagdishan Managing Director DIN-08614396

B S R & Co. LLP

Chaf"tei"cd Account lills

l4tli Floor, CCnti'R1 B Wing & North C Wing Nesco IT Park 4, Nesco Center

Westei'n Express Highway, Goi'egaon (East) Mumbai - 400063, India

Independent Auditor' neport

To the Board of Directors of HDFC Bank Limited

Report on the audit of the Consolidated Annual Financial Results

Batliboi & Purohit Chartci'ed Accountants National Instii'alice Building, 2" Floor, 204, D N Road, Foi't, Mumbai - 40000.1

1. We have jointly aiidited the accoiiipanying consolidated annual financi;il results of HDFC Bank Limited (hereinafter refer i ed to as "the Bank"), and its subsidiaries (the Bank and its subsidiaries together refer red to as "the Group") for the year ended 31 March 2026, attached herewith, being submitted by the B‹ink pursuant to the reqtiIreiiients of Regulation 33 rind Regulation 52(4) read with Regriliition 63 of the Securities and Excliiinge Board of India (Listing Obligations and Disclosure Requirements) Regril‹i1ions, 2015, as amended ("the Listing Regulations"), except for the disclosures prescribed by the Reserve Bank of Indi‹i ("the RBI") relating to consolidated Pillar 3 disclosures as ‹it 31 Miwch 2026, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations ‹is would be disclosed on the Bank's website and in respect of which a link has been provided in Note 16 of the consolidated annual financial results and have not been audited by tis.

   In otii opinion and to the best of our information and according to the explanations given to us and based on the consideration of the repoi ts of auditors on separate / consolidated audited financial inforiiiiition of the subsidiaries, the aforesaid consolidated annu‹il financial results:
   
   include the ‹urinal financi‹il results of the entities mentioned in Annexure I;
   
   

   h) are presented in accord‹ince with the reqtiireiiients of Regul‹ition 33 and Regtiliiti on 52(4) read with Regulation 63 of the Listing Regulations, except for the disclosiit-es relating to consolidated Pillar 3 as at 31 March 2026, including leverage r‹itio, Iiqtiidity coverage ratio and net stable funding ratio under Basel III Capital Regulations as would be disclosed on the Bank's website and in respect of which a link has been provided iii Note 16 of the consolidated annual financial resii1ts end lieve not been ndited by us; and

   c) give a true rind fair view in conformity with the recognition ‹ind measurement principles laid down in the a|›yIicablc Accounting Standar ds, the relev.a' nt pt ovisions of tllc Bankin•

   Regulation Act, 1949, the ‹applicable circular's, master directions and gtiideli nes issued by the

   RBI ("the RBI guidelines") froiTi time to time, and other accounting principles generally accepted in Indi‹i of the consolidated net profit and other financial information of the Group for the year ended 31 March 2026.

   BAI

   p

   '"'BAc°

   
   
   

   B SR & Co. LLP

   Chartcied Accountants

   Basis tor Opinion Batliboi & Pul'Obit

   Cliiii tered Accountiiiits

   1. We conducted our joint audit in accordance with the Standiirds on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs ilI'D further described in the Auditor's Responsibilities for the Audit of the Consolitliited Annual Financial Results section of our i eporC We iii'e independent ofi the Group in accordiince with the Code of Ethics issued by ltte Institute of Charter cd Accountants of India ("ICAI") together with the ethical requirements tint are re1ev‹int to orw joint audit of the consolidated annual financial results, and we liiive fulfilled our other ethical responsibilities in accordance with these requii eiiients and the Code of Ethics. We believe that ‹iiidit evidence obt‹iined by rls, illOlig with the consider‹ition of rcports of the auditors refer ied to in paragraphs 13, 14, and 15 of the "Other Matters" section below, is sufficient and appropriate to provide ‹i basis for our opinion on the consolidated annual financial results.

      Management's and Board of Directors' Responsibilities tor the Consolidated Annual Financial Results

   2. These consolidated annual financial results li:we been prepared on the b‹isi s of the consolidated annual financial siateinents.

   3. The Bank's wian‹igeinent and theBoard ofDirectors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated net profit/ loss and other financial information of the Group in ‹accordance with the recognition and measurement principles l‹iid down in the Accounting Stankards prescribed under Section 133 of the Act read with relevant rules issued ther eiiiider in so far ‹is they apply to banks, the relevant tarovisions of the Banking Regulation Act, 1949, the RBI guideliries and the IRDAI guidelines, as applicable and other accounting principles generally accepted in India ‹ind in compliance with Regulation 33 and Regulation 52(4) i ead with Regulation 63 of the Listing Regulations. The respective management ;ind the Board of Director s of the cornp‹@es ‹ind the Trustees of the Eiiiployee Welfare Trust included iii the Group tire responsible

      " for maintenance of adequate accounting records in accordance with the provisions of the Act and the RBI Guidelines fior safeguarding of the issets of each company / Eiiiployee Welfare Trust and for preventinp• and detecting frauds ‹ind other ii i egrilarities; selection and application of ‹appropriate accot@ing policies; making judgements rind estimates tliiit are reasonable rind prudent; and the design, irnplenaenlation and maintenance of adequate internal financial controls, that were oper‹iting effectively for ensui ing accru acy ‹ind completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial iesiilts that p•ive a true and f:iir view and are free front material misstatement, whether due to fi•iiid or error, which have been used for the ptir|aose of preparation of the consolidated anneat fin metal results by rnanageiiient and the Board of Directors of the Bank, as aforesaid.

      
      
      

      MU BAI

      
      
      

   4. In preparing the consolidated annual financial results, the respective rnanageiiient and the Board of Directors of the companies and the Ti'iistees of the Eiiiployee Welfare Trust included in the Gi oiip are responsible fot assessing• the ability of each coirpiiiiy / Employee Welfare Trtist to continue as a going concern, disclosing, ‹is applic‹ible, iii;itters related to going concern and rising the going concern basis of ‹iccounting unless the respective Boai d of Directors and the Trustees either intends to liquidate the company / Employee Welfare Trust or to cease operations, or has no iealistic alternative but to do so.

      2

      B S R & Co. LLP

      Chartered Accountants

      Batliboi & Purohit

      Chartercd Accountants

      Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial

      Results (contd.)

   5. The respeclive Bo‹ird of Directors of the companies and the Ti'iistees of the Eiiiployee Welfare Trust included iii the Group aie y1so responsible for overseeing the finiincial reportinp• process of each coiiipany and Employee Welfare Trust.

      Auditor's Responsibilities for the Audit of the Consolidated Annual Finnncinl Results

   6. Our objectives are to obtain reasonable assurance abotit wlielher the consolidated summat financial results as a whole are free from material naisstateinenls, whether due to fi and or eii or, and to issue an auditor's report tli‹it includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee th it an iitidit conducted in iiccordance with SAs wi]l always detect a iii‹iterial irisstateiiient when it exists. Misstatements can arise from fraud or cii or rind are considered material if, individually or in aggregate, lliey could reasonably be expected to influence the economic decisions of users taken on the basis of these consolid‹ited iinnual financi‹il results.

   7. As part of an audit in accordance with SAs, we exercise professional judgment ‹ind maintain professional skepticisiii tlii'ougliotit the audit. We also:

      1. Identify and assess the risk of material misstatements of the consolidiited iNinti‹il finiincial results, whether due to fraud or error, design and perfoi in audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropiiate to piovide a basis for our opinion. The iisk of not detectinp• a material iiiisstatenaent resulting front fraud is higher than for one resulting front error, as fraud iiiay involve collusion, forp•ery, intentional omissions, iiiisrepi-esentation, or the over i ide of internal controls.

      2. Obtain an iindei standing of internal conti ols i o•levant to the audit iii or der to design audit procedtwes that are appropriate in the circurnstiinces. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of consolidated financi‹il statements on whether the Bank and its siibsidiariex incorporated in India have adequate internal financial controls over financial reporting with reference to consolidated financial stateiiients in place and the operatiiig• effectiveness of such controls.

      3. Evaluate the ilQ]O1'OQl iateness of accounting policies used and the re‹isonabIeness of accounting estimates and related disclosures in the consolidated annual financial resiiIts iiiade by management and the Board of Directors.

      4. Conclude on the ‹ippr vriatenessof inanagciiient's and the Board of Dii ectors' use of the going

         concern basis of accountinq• and, b‹ised on the ‹iudit evidence obtained, whether :i material iincertiiinty exists related to events or conditions that in‹iy rcast a significant doubt on the

         appropriateness of this asstiinpti on. If we conclude that a material tincert‹iinty exists, we are required to driiw attention in otw auditor's repoii to the related disclosure in the consolidated annti‹il fi1i:rncial results or, if such disclosures are inadequate, to modify otrr opinion. Our conclusions are based on the audit evidence obtained tip to the date of off auditor 's report. However, future events or conditions iiiay cause the Gronp to cease to continue as a p•oing concern.

         
         
         

         B S R & Co. LLP

         Cliartercd Accountants

         Batliboi & PUl'Ohit

         Chartered Accountants

         Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results (contd.)

      5. Evaluate the overall presentation, structure and content of the consolidated annual financi‹il results, inclilding the disclosures, and whether the consolidated annual financial results represent the rinderlying tr‹insactions and events in a wanner tli‹it achieves fair presentation.

         Obtain sufficient appropriatc ‹iudit cvidence regarding the fin‹incial information of the entities witlii ii the Group to express ;in opinion on the consolidated annt@ financial results. We are responsible for the dircction, supervision and performance of the aridit of financial information of the Bank included in the consolid‹ited annual financial results of which we are the independent auditors. For the other entities included in the consolidatetl annual financial results, which hiive been audited by other auditors, such other auditors reiiiain responsible for the direction, supervision aiid perfonnance of the audits ciiiiied out by them. We reiaiaiii responsible for our ‹iudit opinion. Our responsibil ities in this regard are further described in paragraphs 13, 14 and 15 of the "Other Matters" section in this audit report.
         
         

   8. We coiriiirinicate with those charged with governance of the Bank regarding, among other matters, the planned scope and

      of llie audit rind significant audit findings, including any significant deficiencies in intern‹il control that we i dentify during our audit.
      
      

   1. We also provide lliose charged with governance with a statement that we have complied with relevant ethical requirements rep•arding independence, and to conaiiitinicate with them :ill relationships and other iii‹itters that rHay reasonably be tlioiig•lit to bear on our independence, and where applicable, rel‹ited safeguards.

1. We also performed piocedijres in accordance with the circular No CIR/CFD/CMD 1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent iipplicable.

   Other matters

2. The consolidated aniuiiil financi‹il i esiilts include the consolidated audited financial results of one subsidiary and the standalone audited financial results of four subsidiaries whose financi‹i1 information reflects total assets (before consolid‹ition adjustiaients) of Rs. 1,44,532.34 crore as at 31 March 2026, total revenues (before consolid‹ition adjustments) of Rs. 23,945.09 crore, total net profit after tax (before consolidation adjustments) of Rs. 3,512.96 ciore and net cash inflows (before consolidation adjustments) of Rs. 4,5I 3.43 crore for the year ended on that date. These financial information have been iiiidited by other auditor s whose ‹iiidit reports have been furnished to tis by the Bank's i management. Ovu opinion on the consolidated annti;il fin iiiciiil results, iii so i'ar as it rel‹ites to the amounts and disclosures included in respect of these subsidiiiries, is based on the reports of the other

   
   
   

   M BAI

   
   
   

   .auditors and the procedijres performed by us as stated in paragraph 12 above.

   4

   B S R & Co. LLP

   Cliartercd Accountants

   Other matter s (contd.)

   Batliboi & Purohit Char teiecl Accountants

3. The consolidated annual financial iesulIs include the consolidated audited financial results of one subsidiary and the stand‹ilone audited financial results of two subsidiaries whose financial information reflects total assets (before consolidation adjustments) of Rs. 10,348.61 crore as at 31 March 2026, total revenues (before consolidation adjustments) of its. 5,729.88 crore, total net pi-ofit after tax (before consolidation adjtistiiients) of Rs. 2,912.49 ciore and net cash inflows (before consolidation adjtistrrients) of Rs. 128.72 crore for the year ended on th‹it date. These financial information have been audited by one of the joint auditors of the Bank. Otw opinion on the consolidated annual financial results, in so far as it relates to the •unonnts rind disclosures included in respect of these siibsidiiii ies, is based on ltte reports issued by the said auditors of these siibsidiarics and the procedures performed by his as stilted in paragr‹ipli 12 ;ibove,

4. The consolidated annual financial results incliide the consolidated audited financial results of one subsidiary and the standalone audited financial results of one subsidiary whose financial inforiiiation reflects total assets (before consolidation adjustments) of Rs. 4,22,675.14 crore as at 31 March 2026, total i-even ties (before consolidation adjustments) of Rs. 1,09,038.70 crore, total net profit after tax (bef'oi e consolidation adjtistiiients) of Rs. 2,642.98 crore and net cash inflows (before consolidation adjustments) of Rs. 258.95 crore for the yeiir ended on that date. These financi;il infonration have been audited by one of the joint auditors of the Bank along with other joint auditor of the respective subsidiaries. Our opinion on the consolidated iinnrial financial results in so fai- as it relates to the anaotrnts and disclosures included in respect of these subsidiaries, is based on the repoi Is issued by the said joint auditors of these subsidiaries and the procedtwes perforiiied by us as stated in paragraph 12 above.

.16. The consolidated annual financial i esiilts include the tinaudited financial information of Employee Welfare Trust, whose financial information reflects total assets (before consolidation adjustments) of Pss. 743.73 crore as at 3! iMarch 2026, total revenues (before consolidation adjuslirents) of Rs. (76.05) crore, tot‹il net loss ‹ifter tax (before consolidation adjustments) of Rs. 76.53 ciore and net cash inflows (before consolidation adjustments) of Rs. 0.99 ciore for hue year en‹led on that date. The fin‹incia1 information of Employee Welfare Trust iS tIii‹iudited and has been furnished to us by the Bank's management. Our opinion on the consolidated ‹iiiiiii‹il financial results, in so far as it relates to the aiiiounts and disclosures included in respect of the Employee Welfare Trust, is based on such riiiaiidited financial information. In our opinion and ‹according to the information and explan‹itions gi ven to his by the Bank's inan‹igeinent, this financial infoi iiiation is not inatcrial to the Group.

Our opinion on the consolidated annu‹il financial results is not modified in respect of the above matters stated in paragraphs 13, 14, 15 and 16 with respect to our reliance on the work done and the reports of the respective auditors and the financi‹i1 inforniiition certified by management of the Bank.

MU BAI

B S R & Co. LLP

Char ferent Accountants

Other matters (contd.)

Charterecl Accountants

1. The joint st‹itiitory ;itiditors of HDFS Life Insurance Coinpiiny Limited ('HDFC Life') vide their atidit report dated 17 April 2026 have expressed an unmodified opinion and have reported in the "Other Matters" section that "tlae actuarial valu‹ition of liiibilities for life policies in-foi-ce and foi- policies in respect of which }9reinitina has been discontinued but liability exists as at 3.1 March 2026 is the responsibility of HDFC Life's Appointed Actuary (thc "Appointed Acttiiwy"). The actuarial v;ilu;ition of these li‹tbilities for life policies in foi'ce and for policies in respect of which premium tins been discontinued brit li‹ibility exists as at 31 March 2026 has been duly certified by the Appointed Actt@y and in her opinion, the assumptions for such valuiition ‹rre in accordance with the gnidelines and norms issued by the Instwance Regulatory ‹ind Development Authority of Indi:i ("IRDAI") and the Institute of Actuarics of India iii concin ience with the IRDAI. We have relied upon the Appointed Actiiai y's certificiile in this regai d for for wing oiir conclusion on the valuation of liabilities for life poIicies in force ;ind for policies in respect of which premium has been discontinued but liability exists, ‹is contained in the group reporting pack of HDFC Life".

   Om opinion is not iiiodified in respect of this matter.

2. The joint statiitoi y auditors of HDFC ERGO Genei al Insrir‹ince Coirp;iny Limited ('HDFC ERGO') vide ther 1' Otldit l'DOI't d¿lfDd 15 A 1H1 2026 have expressed an unmodified opinion and have ieported in the "Other Matters" section th‹it "the actriiii ial valuation of li abilities for non-life policies is the responsibility of the HDFC ERGO' s Appointed Actiiiii y (the "Appointed Actuary"). The actuarial valuation of the outstanding claims reserves, Piemiurn Deficiency Reserve (the "PDR"), Incur red but Not Reported ("IBNR") inc1iidinq• Incurred but Not Enough Reported ("IBNER") iis at 31 March 2026 has been duly certified by the Appointed Actuary and in his opinion, the assurnpti ons for such valuation are in accordance witli the guidelines and norms issued by IRDAI and the Institute of Actuaries of India in concui ience with llie Authority. We have relied upon the Appointed Actuary's certi ficate in this regard for ft'i wing our opinion on the valuation of li‹ibilities for outstanding claims resei'ves, PDR, IBNR (includinq• IBNER) reserves, as containecl in the group reporting pack of HDFC ERGO".

   Our opinion is not modified in respect of this matter.

3. The consolidated ‹iiHni‹il financi‹il rcsults of the Group for the year ended 31 March 2025 were audited jointly by one of the joint iiiiditors along with predecessor auditor whose i eport d‹ited 19 Api il 2025 had expressed •in iiniiiodified opinion.

   
   
   

   B S R & Co. LLP

   Ch‹wtered Accountants

   Other matters (contd.)

   Batliboi & Pu£'0I3it

   Ch‹wtei cd Accoiint‹ints

4. The consolidated annual financiiil results include the results of the quarter ended 31 March 2026 being the balanci rig figure between the aii‹lited figures in respect of the full financial ycar and the published unatidited year to date figiii'es rip to the third qiiiirter of the ctwrent financial yeM which wei'e subjected to limited review by tis.

ror o s ns co. LLP

Cliai-ter-ed Acc'r›uu/rims

Firm's R ration No. 10 1248W/W- 100022

S iir Soni

Membership No. 041870 UDIN: 2604I 870LJMW1F4913

Place: Mtiijib‹ii Date: 18 April 2026

For Batliboi & Purohit

Clwrtri-ecl Accoimtunt.s

Fiiir's Registration No. 101048W

Janalt Mehtn

Membership No. 116976 UDIN:26 116976ZSLAKR1800

Place: Mumbai Date: 18 April 2026

MUMBAI

' '""d AccO *

7

B S R & Co. LLP

Annexure I

List of entities included in the consolidated anntiiil financial res tilts.

Parent entity

HDFC Bank Liiiiited Subsidiaries

Batliboi & Purohit Chartci'er1 Accountants

MU tBAI

8