Desk note · industry · NBFCs / consumer credit
HDFC Bank’s NBFC arm HDB Financial Services reported net profit of ₹780.2 crore for the quarter ended 30 September 2026, up 34% year on year, as assets under management rose 11.6% to ₹1.24 lakh crore and credit costs eased slightly.
On 14 October 2026, HDB Financial Services Ltd, the non-bank lender promoted by HDFC Bank, published results for the second quarter of fiscal 2026–27. Net profit rose 34.3% year on year to ₹780.2 crore from ₹581 crore in the same quarter last year. Net interest income, the gap between interest earned on loans and interest paid on funding, increased 15.5% to ₹2,534 crore. Total income grew 12% to ₹3,188 crore. Assets under management reached ₹1,24,638 crore at 30 September 2026, up 11.6% from ₹1,11,721 crore a year earlier, while the gross loan book expanded 11.7%. Provisions for loan losses edged down 2.5% to ₹730 crore, and pre-provisioning operating profit rose 15.9% to ₹1,774 crore.
HDB sits in the slice of Indian credit between banks and small NBFCs, lending to consumers and businesses that may not qualify for the cheapest bank rates. Double-digit balance-sheet growth with only a modest drop in provisions suggests demand for unsecured and secured retail loans is still holding after the RBI’s October rate hike. Because funding costs for NBFCs track money-market yields, the treasury bill spike on the same day is a reminder that future margins depend on how quickly HDB reprices loans versus its borrowings. The HDFC Bank parentage also means HDB can tap wholesale funding and co-lending partnerships that smaller rivals lack.
If you borrow from HDB or similar NBFCs for vehicles, equipment, or personal needs, compare EMI quotes after the RBI move and check whether your rate is fixed or linked to benchmarks. Investors watching HDFC Bank should treat HDB as a growth and credit-quality barometer for the group’s non-bank book. If loan growth stays near 12% while provisions stay flat, it supports the broader story that Indian households and small firms are still willing to borrow for durables and working capital heading into the festive season.
Telecom / IPO
On 22 October 2026, exchange data showed Jio Platforms’ ₹30,213 crore issue had drawn about ₹3.73 lakh crore of total bids by late evening on Day 2, with the retail portion oversubscribed and market commentators citing diverted cash from other listed stocks during the book build.
SEBI / market infrastructure
On 22 October 2026, the Securities and Exchange Board of India proposed letting stock exchanges and depositories fund core-market and regulator-mandated initiatives without prior approval for each ticket, while keeping board oversight and financial safeguards and inviting comments until 12 November.
E-commerce / food delivery
On 22 October 2026, reporting said Flipkart is testing an internal food delivery product called Eat-in by Minutes with more than 8,000 employees in Bengaluru, using Ekart logistics as it prepares to compete with Zomato and Swiggy in meal delivery.
Digital trust / compliance
On 22 October 2026, eMudhra Ltd said its board will voluntarily withdraw from the global SSL/TLS certificate segment after a key-security incident on eight intermediate certificates, citing compliance cost and weak economics while stressing that other digital-trust services continue.
For informational purposes only. Not investment advice. Verify with filings and a licensed adviser.