HDFC Bank Ltd. - ADR
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+ FollowMarket Cap$116.83B
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Earnings Call Q2 2027
October 17, 2026 - AI Summary
Strong balance-sheet + liability momentum (core “growth engine”)
- Deposits up 18.8% YoY (reported), with FCNR(B) special window adding ~4pp to that growth.
- CASA grew ~10.8% YoY; retail CASA up ~11.2% YoY (vs ~9% YoY a year ago), signaling improving retail deposit momentum.
- ~1.7 million new liability relationships in Q2, 25% higher than Q1 and 33% higher than Q4 last year → management expects this to scale further as the retail franchise matures.
Asset growth solid; retail + SME disbursements accelerating
- Total AUM up 15.3% YoY (includes ~1.9% impact from FCNR(B) leverage).
- Retail disbursements crossed INR 90,000 cr in Q2 FY27 vs INR 76,000 cr in Q1 (clear sequential acceleration).
- EOP loan book trend improving: Sep’26 retail ex-agri annual growth ~11.2% (vs 9.1% in Jun’26 and 7.4% in Mar’26).
- MSME/mid-market strengthening: Sep’26 EOP loan growth 23.5% YoY (vs 17–18% YoY in prior quarters).
- Credit cards: 1.4 million new issuances, ~19% QoQ increase → indicates continued demand/rollout strength.
Asset quality remains “pristine” / low credit costs
- GNPA 1.11%, 13 bps lower YoY.
- Credit cost 44 bps (management characterizes as low).
- Risk weights ~69% of total assets (portfolio mix / risk discipline).
- Surprising/positive watchout: on agri, despite monsoon shortfall, agri sowing largely stable (~-1.5% to -2%) and agri gross NPA remained largely constant as of Sep vs Jun; they’re monitoring as the season unfolds.
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$101.85
348.5% upside
Current Fair Value
348.5% upsideUndervalued by 348.5% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $116.83 Billion |
|---|---|
| Enterprise Value | $3.43 Trillion |
| Annual dividend | $1.20 |
| Dividend yield | 2.24% |
| Earnings per Share | $148.5 |
| Beta | 0.42 |
| Outstanding Shares | 5,144,269,000 |
Return
| Return on Equity | 13.20% |
|---|---|
| Return on Assets | 1.55% |
| Return on Invested Capital | 2.14% |
Valuation & Multiples
| P/E Ratio | 13.32 |
|---|---|
| PEG | 245.84 |
| Price to Sales | 0.02 |
| Price to Book Ratio | 0.02 |
| Enterprise Value to Revenue | 0.67 |
| Enterprise Value to EBIT | 3.09 |
| Enterprise Value to Net Income | 4 |
| Total Debt to Enterprise | 1.74 |
| Debt to Equity | 0.98 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 17, 2026
EPS Estimate
$0.40
Consensus analyst estimateRevenue Estimate
$4.95 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 15, 2027
EPS Estimate
$0.42
Consensus analyst estimateRevenue Estimate
$5.24 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 271.31% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 5.48%▼ 32.32% |
|---|---|
| Total Invested | $2.10B▼ 87.48% |
| Investors Holding | 155▼ 419.00% |
About HDFC Bank Ltd.
212,958 employees
CEO: Sashidhar Jagdishan
HDFC Bank Limited, founded in Mumbai, India, in 1994, is a prominent provider of comprehensive banking and financial solutions. The institution serves both individual and corporate clients across India, Bahrain, Hong Kong, and Dubai, ope...