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Non-bank lender majority-owned by HDFC Bank, providing consumer, commercial and asset-backed loans across India.
Non-bank lender majority-owned by HDFC Bank, providing consumer, commercial and asset-backed loans across India.
Earns the gap between its borrowing cost, mostly bank loans and bonds, and the interest charged on loans to individuals and small businesses, spread across consumer loans, vehicle and other asset finance, and loans to enterprises. A smaller fee line comes from back-office and collection services for HDFC Bank. It listed on the stock exchanges in 2025.
In one line: India's smaller consumer-finance arm of a major bank, like Synchrony.
Moat: narrow (brand, distribution, scale). HDFC Bank parentage and an extensive branch/agent network across India give strong distribution reach.
Headquarters: Ahmedabad, India · Founded: 2007 · Employees: 88,163
Size HDB Financial Services (HDBFS.NS) is an India Financials company (Finance/Rental/Leasing) with a market value of $4.71B, the 219th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹534.75 on 6 Nov 2026.
Performance Over six months the shares fell 23.7%, against -5.5% for the median peer and 0.0% for the India market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 11.2% over the last twelve months (peer median +7.0%); the operating margin is 35.1% (peer median 31.4%).
Valuation It trades at 2.01× book value against a peer median of 1.90× (10th most expensive of 20).
Price implies The share price implies a return on equity of about 30.2%; HDB Financial Services delivers 14.3%, so the price asks more than the business earns today.
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹194B | ₹184B | ₹163B | ₹141B | ₹124B |
| Revenue growth | — | +13% | +15% | +14% | — |
| Gross profit | ₹122B | ₹182B | ₹161B | ₹140B | ₹123B |
| EBITDA | ₹70.1B | ₹133B | ₹117B | ₹94.1B | ₹76.0B |
| Net income | ₹29.6B | ₹25.4B | ₹21.8B | ₹24.6B | ₹19.6B |
| Free cash flow | n/a | ₹54.0B | ₹48.8B | ₹45.5B | ₹35.0B |
| Capital expenditure | n/a | ₹1.44B | ₹2.10B | ₹1.23B | ₹1.11B |
| Total debt | ₹1.04T | ₹1.00T | ₹879B | ₹754B | ₹564B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| HDB Financial Services HDBFS.NS | $4.71B | -24% | +11% | 14% | 2.01× | 30.2% |
| Bajaj Finance BAJFINANCE.NS | $71.6B | +12% | +19% | 19% | 5.50× | 77.1% |
| Cholamandalam Investment and Finance CHOLAFIN.NS | $16.2B | +6% | +21% | 21% | 4.43× | 67.7% |
| L&T Finance LTF.NS | $7.36B | -9% | +17% | 12% | 2.38× | 45.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HDBFS.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.9% | -1.3% | 3rd lowest of 21 |
| 6-month return | -23.7% | -5.5% | 3rd lowest of 21 |
| Return on equity | 14.3% | 14.4% | 10th lowest of 20 |
| Price / book | 2.01× | 1.90× | 10th most expensive of 20 |
| Trailing P/E | 15.0× | 11.9× | 10th most expensive of 20 |
| ROE the price implies | 30.2% | 18.5% | 7th most demanding of 20 |
| ROE delivered | 14.3% | 14.4% | 10th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| HDB Financial Services HDBFS.NS | India | $4.71B | -24% | +11% | 14% | 2.01× | 30.2% | 14.3% |
| Nelnet NNI | United States | $4.67B | +7% | -7% | 8% | 1.24× | 10.1% | 8.1% |
| Sundaram Finance SUNDARMFIN.NS | India | $4.95B | -11% | +14% | 14% | 2.89× | 35.3% | 14.4% |
| Bohai Leasing 000415.SZ | China | $4.44B | +2% | -7% | 18% | 0.90× | 6.3% | 17.8% |
| Poonawalla Fincorp POONAWALLA.NS | India | $4.42B | +4% | +77% | 9% | 3.02× | 47.4% | 9.2% |
| ACOM 8572.T | Japan | $4.38B | -12% | +7% | 9% | 0.96× | 5.6% | 9.3% |
| Herc HRI | United States | $5.08B | +14% | +19% | 6% | 2.56× | 33.3% | 6.3% |
| Blue Owl Technology Finance OTF | United States | $4.36B | -13% | +95% | 5% | 0.58× | 4.9% | 4.8% |
| Figure Technology Solutions FIGR | United States | $5.10B | -40% | +66% | 26% | 3.58× | 26.5% | 26.2% |
| Enova International ENVA | United States | $4.22B | -1% | +20% | 27% | 2.72× | 26.6% | 26.8% |
| Avis Budget CAR | United States | $4.20B | -18% | -1% | n/a | n/a | n/a | n/a |
| Credit Acceptance CACC | United States | $5.37B | -1% | +2% | 23% | 3.86× | 38.2% | 22.7% |
| Mahindra & Mahindra Financial Services M&MFIN.NS | India | $4.12B | -15% | +15% | 14% | 1.41× | 23.7% | 13.8% |
| GMO Payment Gateway 3769.T | Japan | $3.98B | +6% | +13% | 22% | 5.02× | 32.4% | 21.5% |
| Element Fleet Management EFN.TO | Canada | $5.61B | -31% | +5% | 11% | 2.06× | 9.2% | 10.6% |
| Bread Financial BFH | United States | $3.87B | +17% | +2% | 16% | 1.13× | 12.2% | 15.9% |
| Chailease 5871.TW | Taiwan | $5.74B | -10% | -4% | 12% | 0.97× | 3.8% | 11.5% |
| SBI Cards & Payment Services SBICARD.NS | India | $5.89B | -10% | +6% | 16% | 3.24× | 40.7% | 16.3% |
| Sixt SIX2.DE | Germany | $3.67B | +4% | +7% | 15% | 1.67× | 15.8% | 15.0% |
| Credit Saison 8253.T | Japan | $3.62B | -10% | +10% | 9% | 0.73× | 6.3% | 9.2% |
| OneMain OMF | United States | $6.42B | 0% | +6% | 23% | 1.90× | 18.5% | 22.7% |