HDFC net profit up 27% at Rs 2,797 crore

New Delhi, July 27 

HDFC today said it will raise Rs 35,000 crore through private placement.

HDFC said the board of directors has granted its approval for issuance of secured redeemable non-convertible debentures aggregating Rs 35,000 crore on a private placement basis under a Shelf Disclosure Document.

Meanwhile, the private sector lender reported a 26.86% increase in consolidated net profit at Rs 2,796.92 crore, helped by receipts from stake sale in its general insurance arm.

Income during the period rose to Rs 8,311.24 crore for the quarter ended June 2016, up 7.44%, as against Rs 7,735.52 crore a year ago. — PTI