Housing Development Finance Corporation (HDFC) witnessed a 20% YoY growth in standalone net profit for Q4FY23 to INR 4,425.50 crore, surpassing the estimated INR 3,807 crore as per an ET NOW poll. HDFC's total revenue from operations also increased by 35.6% YoY, and net interest income grew by 16% YoY. Several top brokerages including Motilal Oswal, Kotak Institutional Equities, Nomura, and Macquarie recommended 'Buy' or 'Outperform' ratings on HDFC shares, with a target range of INR 3,060 to INR 3,290, implying an upside potential of 7% to 15%.
