HDB Financial Services Raises ₹2,018 Cr Through NCDs; Q1 FY27 Profit Rises 38%
HDB Financial Services raises ₹2,018 crore through secured NCDs as its loan book expands, while Q1 FY27 profit and NIM show year-on-year growth.
HDB Financial Services raised ₹2,018.17 Cr through secured NCDs in September, adding to its funding activity as the NBFC continues expanding its loan book. Q1 FY27 PAT rose 38.31% YoY, while NIM improved and asset quality strengthened during the quarter.
HDB Financial Services remains in focus after raising ₹2,018.17 Cr through secured redeemable non-convertible debentures in September. The fundraising comes as the NBFC continues to expand its loan book and maintain access to debt markets.
The company also allotted 29,480 equity shares to employees under its ESOP scheme on September 21. The latest disclosures follow a strong Q1 FY27 performance, when profit, net interest income and the gross loan book increased year-on-year.
HDB Financial Services Raises ₹2,018 Cr Through NCDs
On September 9, 2026, HDB Financial Services allotted 20,000 secured redeemable NCDs on a private-placement basis. The debentures, with a face value of ₹10 lakh each, aggregated to ₹2,018.17 Cr and are proposed to be listed on the wholesale debt market segment of BSE.
The fundraising is relevant for HDB Financial Services because its lending business depends on continued access to debt funding to support loan growth.
The company had also filed an intention to raise funds through NCDs on September 4. Its investor disclosures show continued debt-market activity through the year, including multiple NCD and commercial-paper issuances.
On September 21, the company separately allotted 29,480 equity shares to employees under its Employees Stock Option Scheme. The allotment increased the company's paid-up share capital.
HDB Financial Services Share Price Today
HDB Financial Services shares were trading at ₹661.60, down ₹9.20 or -1.37%, on September 24, 2026. The stock has delivered -13.41% YTD returns and -14.40% returns over the past one year.
Data as of September 24, 2026, 3:30 PM IST.
How Did HDB Financial Services Perform in Q1 FY27?
HDB Financial Services reported strong financial performance for the quarter ended June 30, 2026.
Revenue from operations increased 10.58% YoY to ₹4,937.90 Cr from ₹4,465.40 Cr in Q1 FY26. PAT increased 38.31% YoY to ₹785.20 Cr from ₹567.70 Cr.
Net interest income increased 19.90% YoY to ₹2,509 Cr, while NIM improved to 8.35% from 7.74% a year earlier and 8.23% in Q4 FY26.
|
Metric |
Q1 FY27 |
Q4 FY26 |
QoQ % |
Q1 FY26 |
YoY % |
|---|---|---|---|---|---|
|
Revenue from Operations (₹ Cr) |
4,937.90 |
4,745.40 |
4.06% |
4,465.40 |
10.58% |
|
Net Interest Income (₹ Cr) |
2,509.00 |
2,399.00 |
4.60% |
2,092.00 |
19.90% |
|
Net Interest Margin |
8.35% |
8.23% |
+12 bps |
7.74% |
+61 bps |
|
PAT (₹ Cr) |
785.20 |
750.60 |
4.61% |
567.70 |
38.31% |
|
EPS – Diluted (₹) |
9.43 |
9.02 |
4.55% |
7.11 |
32.63% |
|
GNPA |
2.34% |
2.44% |
-10 bps |
2.56% |
-22 bps |
Source: HDB Financial Services Q1 FY27 financial results and investor presentation.
Loan Book Crosses ₹1.21 Lakh Cr
HDB Financial Services' gross loan book increased 11.44% YoY to ₹1,21,846 Cr as of June 30, 2026, compared with ₹1,09,342 Cr a year earlier. The loan book also increased 2.83% from ₹1,18,493 Cr in March 2026.
Secured loans accounted for 74% of the gross loan book. The customer base increased 18.6% YoY to 23.9 million, while quarterly disbursements rose 16.2% YoY to ₹17,629 Cr.
|
Segment (₹ Cr) |
Jun 2026 |
Mar 2026 |
QoQ % |
Jun 2025 |
YoY % |
|---|---|---|---|---|---|
|
Enterprise Lending |
45,742 |
44,841 |
2.01% |
42,365 |
7.97% |
|
Asset Finance |
45,009 |
44,729 |
0.63% |
41,305 |
8.97% |
|
Consumer Finance |
31,095 |
28,923 |
7.51% |
25,672 |
21.12% |
|
Gross Loan Book |
1,21,846 |
1,18,493 |
2.83% |
1,09,342 |
11.44% |
Source: HDB Financial Services Q1 FY27 investor presentation.
Consumer Finance recorded the fastest growth among the three major segments, rising 21.12% YoY. Enterprise Lending remained the largest segment, followed closely by Asset Finance.
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Asset Quality Improves During Q1 FY27
Asset quality also improved during the June quarter. Gross Stage 3 assets stood at 2.34%, compared with 2.56% in Q1 FY26 and 2.44% in Q4 FY26.
Net Stage 3 stood at 1.04%. The company reported an annualised RoA of 2.50%, RoE of 15% and a capital adequacy ratio of 21.29% for Q1 FY27.
However, credit costs remained significant at ₹697 Cr during the quarter, compared with ₹670 Cr in Q1 FY26. Investors will therefore need to track whether asset-quality improvements continue as the loan book expands.
What Should Investors Watch Next?
The September NCD allotment highlights the importance of funding for HDB Financial Services as it continues to grow its loan book.
Investors should monitor the company's borrowing costs, NIM and funding mix alongside loan growth. The Q1 improvement in NIM to 8.35% provides a positive starting point, but maintaining margins will be important if funding costs rise.
Asset quality will remain another key factor. GNPA improved in Q1, but credit costs remained elevated and Stage 2 loans also increased sequentially. The next few quarters will show whether the improvement in headline asset quality is sustainable.
Final Takeaway
HDB Financial Services' latest September disclosures highlight continued funding activity, with ₹2,018.17 Cr raised through secured NCDs. This supports the company's ability to fund further loan-book expansion.
Q1 FY27 provided a strong operating base, with PAT rising 38.31%, NII increasing 19.90% and NIM improving to 8.35%. The key question now is whether HDBFS can sustain loan growth and profitability while keeping funding costs and credit losses under control.
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