Q2 2025 Earnings Call Transcript October 21, 2024 Operator: Ladies and gentlemen, good day, and welcome to HDFC Bank Limited Q2 FY25 Earnings Conference Call. As a reminder all participant lines will be in the listen-only mode,

HDFC Bank reports steady numbers, plans IPO for subsidiary, and aims for balanced loan growth and improved NIM.

Even as the lender posted steady Q2, Goldman Sachs remains positive on the stock's outlook and sees potential gains of 28 per cent.

HDFC Bank shares surged nearly 3% on Monday after the company reported a 6% rise in net profit for the September quarter, reaching Rs 17,825.91 crore on a consolidated basis. The stock closed at Rs 1,

HDFC Bank stock price has remained flat and failed to give any significant returns this year. The stock has gained over 7% in three months, but is flat year-to-date (YTD). In the past one year, HDFC Bank share price has gained more than 13%.

HDFC Bank has reported a 5% year-on-year (YoY) increase in its net profit for the second quarter of FY25, reaching ₹16,821 crore. The figure surpasses the average estimate of ₹16,570 crore as projected by seven brokerages. Despite the ongoing economic challenges, India's largest private-sector bank has shown robust performance for Q2.

The bank's credit deposit ratio was at 99.8, the first time that the number has fallen below the 100 per cent mark since the merger of mortgage major parent HDFC into itself in July 2023. Without giving a timeline or a desired level, Vaidyanathan said it would like to bring down the level further.

The shares climbed to ₹1,740.55, with market valuation increasing by ₹46,433.29 crore. Standalone net profit grew to ₹16,820.97 crore.

Analysts believe the relative underperformance of HDFC Bank stock is likely to be capped as the there is visibility of earnings improvement ahead