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Housing Development FinanceCorporation Limited

June 2012

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CONTENTS

HDFC Snapshot

Indian Mortgage Market

Operational and Financial Highlights

Key Subsidiaries and Associates

Financials: Standalone & Consolidated

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HDFC SNAPSHOT

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WHO WE ARE

Incorporated in 1977 as the first specialised mortgagecompany in India

Now a Financial Conglomerate with interests beyondmortgages:

71% shares held by Foreign Investors

HDFC

23.1%

HDFC Bank

72.4%

HDFCStandard Li fe

Insurance

60%

HDFC AssetManagement

74%

HDFC ERGOGeneral

Insurance

60%

GRUHFinance

100%

HDFCPropertyVentures

80.5%

HDFCVentureCapital

87.2%^Credila

FinancialServices

HDFC Snapshot

^ On a fully di luted basis

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BUSINESS SUMMARY

Loans Outstanding : Rs. 1,482.62 bn(June 30, 2012) : US$ 26.96 bn

Mortgage Loans CAGR (5 years) : 22%

Cumulative Housing Units Financed : 4.02 million

Total loan write offs since inception : 4 basis points(of cumulative disbursements)

Cost to Income Ratio (FY 2012) : 7.6%

Unrealised gains on listed investments : Rs. 270.01 bn(June 30, 2012) : US$ 4.91 bn

Profit After Tax CAGR (5 years) : 21%

HDFC Snapshot

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0

100

200

300

400

500

600700

800

900

1,000

FY10 FY11 FY12

606.11

751.85

901.54

504.13

603.14

711.13

Loans Approved Loans Disbursed

Rs.

in

billion

LOAN APPROVALS & DISBURSEMENTS

20%

18%

HDFC Snapshot

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CONTINUING GROWTH MOMENTUM(As at June 30, 2012)

0

300

600900

1200

1500

Jun-10 Jun-11 Jun-12

1,016.251,241.68

1,482.62

Rs.

in

billion

HDFC Snapshot

LOANS OUTSTANDING(Net of loans sold)

0

25

5075

100


56.36

31.23

49.78

Rs.

inbillion

LOANS SOLD(In the preceding 12 months)

As at June 30, 2012:

The growth in the loan book inc lusive of loans sold in the previous 12 months is 23%

No loans were sold dur ing the quarter ended June 30, 2012

Loans sold (outstanding): Rs. 138.72 bn - on which spread at 1.52% p.a. is to be earned overthe life of the loan

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NATIONAL SPREAD

Outreach Programmes to 90 locationsDeposit & loan products offered

to individuals in over 2,400 towns and cities.

* Inclusive of 77 outlets of wholly owned distribution company

HDFC Snapshot

No. of Outlets

2002 1182003 142

2004 173

2005 203

2006 219

2007 2342008 250

2009 267

2010 278

2011 289

2012 (Jun) 318

Denotes cities with 4 or more offices

Denotes cities with 3 Offices

Offices

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INDIAN MORTGAGE MARKET

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High demand growth driven by:

Improved Affordability

Rising disposable income

Tax incentives (interest and principal repayments deductible)

Affordable interest rates

Increasing Urbanisation

Currently only 31% of Indian population is urban

Favorable Demographics

60% of Indias population is below 30 years of age

Rapid rise in new households

Urban housing shortage estimated at 26.53 millionunits (Source: Eleventh Five Year Plan)

MARKET SCENARIO

Mortgage Market in India

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IMPROVED AFFORDABILITY

22.0

15.6

11.1

8.3

6.65.9 5.3 5.1 4.7 4.3 4.7 5.0 5.1 5.1 4.5 4.7 4.8 4.6

0.00

2.00

4.00

6.00

8.00

10.00

12.00

0

5

10

15

20

25

30

35

4045

50

Annua

lIncome(Rs.Lac)

PropertyV

alue(Rs.Lac)&

Affordability

Property Cost (Rs. Lac) Affordabil ity Annual Income (Rs. Lac)


1 Lac = 1,00,000

Representation of property pr ice estimates Affordabi li ty equals property prices by annual income

M M k i I di

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TAX INCENTIVES HAVE LOWERED THEEFFECTIVE RATES ON MORTGAGES


2012 2002 2000

Loan amount (Rs) 2,000,000 2,000,000 2,000,000

Nominal Interest Rate(%) 11.00% 10.75% 13.25%

Max deduction for interest al lowed 150,000 150,000 75,000

Deduction on principal 100,000 20,000 20,000

Tax rate applicable 30.90% 31.50% 34.50%

Tenor (years) 15 15 15

Total amount paid per year 320,000 269,028 307,620

Interest component 220,000 215,000 265,000

Principal repaid 100,000 54,028 42,620

Tax amount saved 77,250 53,550 32,775

Effective interest paid on home loan 142,750 161,450 232,225

Effective interest on home loan 7.1% 8.1% 11.6%

M t M k t i I di

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0%

20%

40%

60%

80%

100%

120%

8%

17%20%

34%36% 40%

43%47%

54%

77%

85%

101%

LOW PENETRATION IMPLIES ROOM FOR GROWTHMORTGAGES AS A PERCENT OF NOMINAL GDP


Source: European Mortgage Federation, 2010, HOFINET, 2010 & HDFC estimates for India

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OPERATIONAL AND FINANCIAL

HIGHLIGHTS


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HDFCs ASSETS(As at June 30, 2012)

86%

9%

5%

Loans (including debentures & corporate depositsfor financing real estate projects) - 86%Investments - 9%

Other Assets - 5%

Total Assets as at June 30, 2012

Rs. 1,746.76 billion (US$ 31.76 billion)

Total Assets as at June 30, 2011

Rs. 1,488.31 billion (US$ 33.28 billion)

Total assets have been computed as per Indian Accounting Standards and consequentlynot fai r valued. The unreal ised gain on l isted investments as at June 30, 2012 of Rs. 270.01bn has not been considered in the aforesaid.



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HDFC Bank - 29%

HDFC Sales

Private Limited -

45%

Direct Walk-ins -

13%

Other DSAs - 13%

HDFC Bank - 29% HDFC Sales Private Limited - 45%

Direct Walk-ins - 13% Other DSAs - 13%

87% OF OUR MORTGAGES ARE SOURCED BYOURSELVES OR THROUGH OUR AFFILIATES


June 30, 2012


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Individuals67%

Corporate13%

Rental

Discounting

7%

ConstructionFinance

13%

INDIVIDUAL LOANS

Home Loans

Fixed rate loans

Floating rate loans

Home ImprovementLoans

Home Extension Loans Short Term Br idging

Loan

Loans to NRIs

CORE BUSINESS LENDING(As at June 30, 2012)


June 30, 2012

Rs . in billionGross Loans 1,621.34

Less: Loans securitised - on w hich

spread is earned over the life of the loan 138.72

Loans Outstanding 1,482.62

LOANS


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OUR CONSERVATIVE LOAN PROFILE

UNDERLIES OUR HIGH CREDIT QUALITY Average Loan Size : Rs. 2.14 mn (US$ 38,909)

Maximum Loan to Value : 80%

Average Loan to Value : 65% (at origination)

Average Loan Term : 13 years

Primary Security : Mortgage of property financed

Repayment Type : Amortising



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0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

FY10 FY11 FY12

0.79% 0.77% 0.74%

0.53%

0.46% 0.44%0.66%

0.95%

1.16%

GROSS NPLs AS A % OF PORTFOLIO

6 MONTH GROSS NPLs AS A % OF PORTFOLIO

PROVISION FOR CONTINGENCIES AS A % OF PORTFOLIO

As at March 31, 2012

(Rs. in bn)

Provision for Contingencies: 16.71

Regulatory Provisioning: 14.02

Of which:

Provisioning for NPLs: 3.18

General Provisioning on

Standard Assets: 10.84

Actual provisioning is 1.2 times theregulatory requirement

Total loan write-offs continue to be 4basis points of cumulative

disbursements

KEY FACTORS

Low loan to value ratio In-house follow up team

Cash flow based lending Experienced appraisal team

HIGH LOAN QUALITY/ LOW CREDIT COSTS


Percentage


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0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%


0.89%0.83% 0.79%

0.68%

0.94%

1.14%

0.21%

0.00% 0.00%

GROSS NPLs PROVISION FOR CONTINGENCIES NET NPLs

PROVISION FOR CONTINGENCIES & NET NPLs


As at June 30, 2012, it was the 30th consecutive quarter end at which thepercentage of non-performing loans have been lower than the correspondingquarter in the previous year.

Percentage


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12%

82%

6%

Shareholders' Funds

Borrowings

Other Liabilities

Rs. 204.66 bn

Rs. 1,438.12 bn

Rs. 103.98 bn

LIABILITIES

(As at June 30, 2012)


Total Liabili ties Rs. 1,746.76 bn (PY Rs. 1,488.31 bn)


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24%25% 28%

31% 32% 25%

43% 42% 46%

2% 1% 1%

0%

20%

40%

60%

80%

100%


International Borrowings

Bonds & Debentures

Term Loans

Deposits

MULTIPLE SOURCES OF BORROWINGS(As at June 30, 2012)

Total Borrowings Rs. 1,438.12 bn (PY Rs. 1,235.19 bn)


Percentag

e


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BORROWINGS (2)

p g g

Borrowings as at 30-Jun-12 31-Mar-12Net

Increase

During the

quarter 2012

During the

quarter 2011

Rs bn Rs bn Rs bn

Term Loans 374.84 406.97 (32.13) -69% -7%Debentures 663.84 621.38 42.46 91% 58%

Deposits 399.44 362.93 36.51 78% 50%

Total 1,438.12 1,391.28 46.85 100% 100%

% of incremental fund ing


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416

735

524

423

772

480

0

100

200

300400

500

600

700

800

900

Up to 1 yr 2-5 yrs Over 5 yrs

Assets Liabilities

Rs.

inbillion

MATURITY PROFILE(As at March 31, 2012)

The above graph reflects adjustments for prepayments and renewals in accordance with theguidelines issued by National Housing Bank.


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10.90%

10.30%

11.83% 12.37%

8.59%

7.97%9.56%

10.10%

2.31%

2.33%

2.27%

2.27%

2.10%

2.15%

2.20%

2.25%

2.30%

2.35%

2.40%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

FY10 FY11 FY12 Apr-Jun-12

Returns on Loans Cost of Borrowings Spread

LOAN SPREADS

p g g


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STRENGTHSHome Loan Strengths

Low average loan to value ratio and instalment to income ratios

Efficient recovery mechanisms

Steady level of prepayments

Quality underwrit ing with experience of over 35 years

Corporate Strengths

Strong brand customer base of 4.02 million

Stable and experienced management average tenor of senior

management in HDFC over 25 years

High service standards

Low cost income ratio: 7.6%


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RISING PRODUCTIVITY RATIOS

FY12 FY00 FY90

# of employees 1,719 794 727

# of outlets 237 67 24

Profit per employee (US$ 000) 473 118 8

Assets per employee (US$ mn) 18.1 4.4 0.5

Admin cost/assets (%) 0.30 0.49 0.76

Cost income ratio (%) 7.6 13.8 30.9


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Mar-12 Mar-11 Mar-10

Pre Tax RoAA (%) 3.9 4.0 3.8

Post Tax RoAA (%) 2.8 2.9 2.7

ROE (%) 22.7 21.7 20.0

Capital Adequacy (%) 14.6^ 14.0 14.6

Of which Tier I 11.8 12.2 12.8

Tier II 2.8 1.8 1.8

KEY FINANCIAL METRICS

^ As at June 30, 2012

March 2012: The drop in the Return on Average Assets is on account of lower prof it on sale ofinvestments amount ing to Rs. 2.70 bn as against Rs. 3.60 bn for the year ended March 31, 2011.

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SIGNIFICANT ACCOUNTING DIFFERENCES

BETWEEN INDIAN GAAP AND IFRS Investments are required to be reflected in the

balance sheet at original cost and not at fair value.

Standalone accounts only reflect dividend paid bythe subsidiary/associate companies and not the pro-rata share of profits.

Insurance companies are required to charge offacquisition costs upfront as against amortising thecosts over the life of the policy.


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VALUATIONS & RETURNSJun-12 Jun-11 Jun-10

Market price per share (Rs) * 684 706 589Market Capitalisation (USD Bn) 19 23 18Price Earnings Ratio (times) 25.4 30.7 30.4Book Value per share (Rs) - Indian GAAP 137 123 114+Adjusted Book value per share (Rs) 319 281 231

(Without considering any gain on unlisted investments)

+Price to Book ratio (times) 2.1 2.5 2.6Foreign Shareholding (%) 71 73 73*Share price as at July 17, 2012

The face value of the equity shares of the Corporation was sub-divided to Rs. 2 per equity share from Rs.10 per equity share w.e.f. August 20, 2010. Figures for June 2010 have been adjusted to reflect the revisedface value.

+Adjusted only for unreal ised gains on listed investments amount ing to Rs. 270.01 bn as at June 30, 2012.All unli sted investments, including investments in the l ife and non-l ife insurance companies and the assetmanagement bus iness are reflected at cost.

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SHAREHOLDING PATTERN

(As at June 30, 2012)71%

11%

12%3%3%

Foreign Shareholders - 71%

Individuals - 11%

Financial Institutions, Banks & InsuranceCompanies - 12%

Mutual Funds - 3%

Companies - 3%

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Associates and Subsidiaries

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HDFC BANK 23.1% owned by HDFC

Market Cap US$ 24 bn ADRs listed on NYSE

2,564 branches, 9,709 ATMs, 1,416 cities

Key business areas

Wholesale banking Retail banking Treasury operations

Financials (as per Indian GAAP) for the quarter ended June 30, 2012

Total net advances as at June 30, 2012, stood at Rs. 2,133.38 bn an increase of 22%

over the previous year.

Total deposits stood at Rs. 2,575.31 bn an increase of 22% over the previous year.

PAT: Rs. 14.17 bn an increase of 31% over the previous year

Arrangement between HDFC & HDFC Bank

HDFC Bank sources home loans for a fee

Loans originated in the books of HDFC

HDFC offers a part of the disbursed loans for sale to HDFC Bank

HDFC retains a spread on the loans that have been sold


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Ownership and Capitalisation

HDFC holds 72.4% and Standard Life 26% of the equity of HDFC Life

Paid up share capital as at March 31, 2012: Rs. 21.6 bn

No additional capital injected in FY12

Solvency Ratio

As at March 31, 2012: 188% (as against regulatory requirement of 150%)

Premium income and growth

Total premium income in FY12: Rs. 102.02 bn (PY Rs. 90.04 bn) a growth of

13%, share of renewal premium to total premium for FY12 is 62% (PY 55%)

HDFC STANDARD LIFE INSURANCE COMPANY LTD.(HDFC LIFE)


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Assets Under Management

As at March 31, 2012, Assets Under Management stood at Rs. 322.54 bn an

increase of 22% over March 31, 2011

Products

Offers 25 individual products and 9 group products along with 10 optional r iders

Offers 25 fund options across product categories

Distribution

HDFC group network is used to cross sel l by offer ing customised products

Operates out of 481 off ices across the country serving over 940 cit ies & a l iaison

off ice in Dubai

Network of 117,000 financial consultants, corporate agents and other sales

intermediaries

Strong bancassurance tie-ups with public, private and co-operative banks

Market share

Market share of 15.5% (private sector ranked 2nd) and 5.7% (overal l) in terms of

weighted received premium of individual business for FY12 (Source: IRDA)

HDFC STANDARD LIFE INSURANCE COMPANY LTD.


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Operating highl ights (Year ended March 31, 2012)

Commission ratio: 5.7% (PY 5.3%)

Operating expenses: 11.5% (PY 16%)

Individual business conservation ratio: 81% (PY 80%)

Financial highlights

Indian GAAP Results: Maiden profit of Rs. 2.71 bn in FY12

Back book started generating sufficient profits to of fset the newbusiness strain on writ ing new policies

As at March 31, 2012: Market Consistent Embedded Value: Rs. 48.16 bn

New business margin on individual business: 17.2% (based on loaded

acquisition expenses); New business margin after impact of acquisition

expenses overrun is 10.5%

HDFC STANDARD LIFE INSURANCE COMPANY LTD.


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HDFC ASSET MANAGEMENT Tie-up with Standard Life Investments (SLI)

HDFC holds 60% of HDFC Asset Management

HDFC Mutual Fund manages 39 schemes comprising debt, equity, exchangetraded fund and fund of fund schemes

Earned a Prof it After Tax of Rs. 2.69 bn for FY12

Average Assets under Management (AUM) as at June 30, 2012, stood atRs. 976.68 bn which is inclusive of assets under discretionary portfoliomanagement and advisory services

Equi ty assets of HDFC MF as a proport ion of total assets is 40%

Ranked first in the industry on the basis of Average Assets under Management


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HDFC ERGO GENERAL INSURANCE COMPANY LTD.Ownership and Capitalisation

HDFC holds 74% and ERGO 26% of the equity of HDFC-ERGO

Paid up share capital as at March 31, 2012: Rs. 5.23 bn

Capital injected in FY12: Rs. 1.48 bn (including Share Premium)

Premium income and growth

Gross writ ten premium stood at Rs. 18.74 bn for FY12 (PY Rs. 13.02 bn) growthof 44%.

Combined Ratio as at March 31, 2012

92.1% (PY 99.6%) before Motor Pool losses

Solvency

As at March 31, 2012: 157% (as against regulatory requirement of 150%, nowrelaxed to 130%)

Market share

Market share of 8% (private sector) and 3% (overall) in terms of gross writtenpremium in FY12 (Source: GI Council)


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HDFC ERGO GENERAL INSURANCE COMPANY LTD.

Products

The company offers insurance products such as:

Motor, health, travel , home and personal accident in the retail segment

and;

Property, marine, aviation and liability insurance in the corporate

segment.

Retai l accounts for 62% of the total business.

Distribution

Operates out of 80 branches across the country

HDFC group network is used to cross sel l home and health insurance products


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GRUH FINANCE LIMITED (GRUH) 60% owned by HDFC

Registered housing finance company offering loans to individuals for purchase, construction and renovation of dwelling units

Also offers loans to the sel f employed segment where formal incomeproofs are not available

Retai l network of 124 offices across 7 states in India Gujarat, Maharashtra,

Karnataka, Rajasthan, Madhya Pradesh, Chhattisgarh and Tamil Nadu

Financials for the quarter ended June 30, 2012

Loan portfolio as at June 30, 2012, stood at Rs. 43.5 bn an increaseof 29% over the previous year

Gross non-performing assets (NPAs) : 0.68%, net NPAs: 0.08%

PAT: Rs. 267 mil lion an increase of 30% over the previous year

Market Capitalisation: US$ 461 mn


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HDFC PROPERTY FUND Launched in 2005

First Scheme: HDFC India Real Estate Fund

Fund corpus : Rs 10 billion fully invested

Domestic investors, 7 year close ended fund

Funds managed by HDFC Venture Capital Limited

Exits have commenced; fund corpus has been returned to investors

HIREF International Fund

International investors, 9 year close ended fund

Targeted at premier institutions and funds across the world interestedin taking an exposure to Indian real estate

Exits have commenced since 2010


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CREDILA FINANCIAL SERVICES

HDFC holds 87.2% in Credila Financial Services Private Limited

Credila is a non-banking finance company and is the only Indian

lender that is exclusively focused on education loans

The company lends to under-graduate and post-graduate students

studying in India or abroad

As at March 31, 2012

Cumulative disbursements: Rs. 4.8 bn

Average loan: Rs. 0.77 mn

Credila uses the existing distribution network of HDFC

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FINANCIALS

Standalone & Consolidated

Financials

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BALANCE SHEET (Standalone)

*Net of loans sold during the preceding 12 months amounting to Rs. 49.78 bn. If these loans wereincluded, the grow th in loans would have been higher at 23%.

No loans were sold dur ing the quarter ended June 30, 2012.

Jun-12 Jun-11 Growth

(Rs. in billion) (Rs. in billion) (%)Sources of Funds

Net Worth 204.66 180.70

Borrowings 1,438.12 1,235.19 16

Current Liabilities & Provisions 103.98 72.42

1,746.76 1,488.31 17

Application of Funds

Loans* 1,482.62 1,241.68 19

Investments 151.83 173.28

Current/ Fixed Assets 112.31 73.35

1,746.76 1,488.31 17

Financials

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PROFIT AND LOSS ACCOUNT (Standalone)Apr-Jun-12 Apr-Jun-11 Growth

(Rs. in billion) (Rs. in billion) (%)

Operating Income of which: 49.15 38.01 29

Interest Expenses 33.88 25.15 35

Net Interest Income 15.27 12.86 19

Add: Other Income 0.07 0.05Less : Non Interest Expenses 1.74 1.31

Profit before Sale of Investments & tax 13.60 11.60 17

Add: Profit on Sale of Investments 0.20 0.16

Profit Before tax 13.80 11.76 17

Provision for tax 3.78 3.31 14

Profit After tax 10.02 8.45 19

Effective tax rate (%) 27.4 28.1

BALANCE SHEET

Financials

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Mar-12 Mar-11 Growth(Rs. in billion) (Rs. in billion) (%)

Sources of Funds

Shareholders' Funds 244.24 211.90

Minority Interest 8.20 6.51

Policy Liabilities 314.22 260.92

Loan Funds 1,424.79 1,180.56 21%Current Liabilities & Provisions 134.59 94.36

2,126.04 1,754.25 21

Application of Funds

Loans 1,449.34 1,201.55 21%

Investments 486.37 415.97Current Assets, Advances & Fixed Assets 187.96 133.26

Others 2.37 3.47

2,126.04 1,754.25 21

BALANCE SHEET (Consolidated)

PROFIT AND LOSS ACCOUNT (Consolidated)

Financials

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PROFIT AND LOSS ACCOUNT (Consolidated)Apr-Mar-12 Apr-Mar-11 Growth

(Rs. in billion) (Rs. in billion) (%)

Income from Operations 182.24 136.10 34

Premium Income from Insurance Business 111.56 95.75 17

Other Operating Income from Insurance Business 2.52 20.73

Profit on Sale of Investments 2.99 5.07

Other Income 0.27 0.28

Total Income 299.58 257.93

Less Expenses

Interest and Other Charges 115.57 78.76

Staff/Other Expenses 8.91 7.44

Claims paid pertaining to Insurance Business 37.98 33.62

Other Expenses pertaining to Insurance Business 74.44 85.18

Depreciation 0.51 0.49

Total Expenses 237.41 205.49

Profit Before Tax 62.17 52.44 19

Tax Expense 17.27 15.39Net Profit (before Profit of Associates and adjus tment of minority Interest) 44.90 37.05

Net share of profit of Associates (Equity Method) 11.81 9.08

Less : Share of profit / (loss) of minority shareholder 2.08 0.85

Profit after Tax attributable to the Corporation 54.63 45.28 21

CONSOLIDATED EARNINGS

Financials

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CONSOLIDATED EARNINGSAs per Indian GAAP

(As at March 31, 2012)

HDFC Consolidated

Return on Equity 22.7% 24%

Return on Average Assets 2.8% 2.9%

Earnings Per Share (Rs.) 28 37

Profit After Tax (Rs. in billion) 41.23 54.63

Total Assets (Rs. in billion) 1,675.20 2,126.04

Financials

CONSOLIDATED PROFIT AFTER TAX

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Mar-12 Mar-11

(Rs. in billion) (Rs. in billion)

HDFC Profi t After Tax 41.23 35.35

HDFC Standard Li fe 1.96 -0.72

HDFC Ergo -0.29 -0.27

GRUH (net of dividend) 0.45 0.38HDFC Bank (net of d ividend) 10.02 7.79

HDFC-AMC (net of dividend) 0.98 0.89

Others (net of d ividend) 0.28 1.86

Consol idated Profi t After Tax 54.63 45.28

Contr ib utio n of sub s/associates to

the consolidated PAT 25% 22%

CONSOLIDATED PROFIT AFTER TAXAs per Indian GAAP

Note: The Profit After Tax (PAT) for the year ended March 31, 2012 does not consider the redempt ionpremium on Zero Coupon Debentures amounting to Rs. 4.85 bn (net of tax). Had this been charged tothe P&L account, the PAT would have been Rs. 49.78 bn.

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WARRANTS Warrants issued in August 2009

Warrants to be exchanged into equity shares on or beforeAugust 24, 2012 (Trading of Warrants on the stock exchangewill be suspended w.e.f. August 17, 2012)

Warrant exercise price: Rs. 600 per equity share (adjusted for

sub-division of equity shares of face value of Rs. 2 each)

Number of Warrants %

Total Warrants Issued 54,768,530

Warrants exchanged & allotted till J uly

18, 2012 13,428,630 25%Exchange of Warrants under process 3,306,180 6%

Total Warrants Outstanding 38,033,720 69%

AWARDS & ACCOLADES

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AWARDS & ACCOLADES HDFC adjudged the Best Home Loan Provider Outlook Money Awards, 2011

HDFC is the only Indian company to be included in the f if th annual l is t of the 2011 Worlds Most Eth icalCompanies by Ethisphere Institute, USA

HDFC voted Best Investor Relations in India Finance Asias 2011 Annual Poll

HDFC ranked amongst Indias best companies to work for Great Place to Work Institute, 2012

Awarded the Trusted Brand in the Home Loans Category by Reader s Digest for two consecutive yearsin 2011 and 2012

Awarded the Best Foreign Enterprise wi th a Developmental Role in Housing Finance in Africa Afri can

Real Estate & Housing Finance Academy HDFC one of Indias Best Managed Companies for two consecut ive years Finance Asias 2010 and

2011 Annual Poll

Best Governed Company Award- 2010 Asian Centre for Corporate Governance & Sustainability

Top Indian Company in the Financial Institutions/Non-Banking Financial Companies/Financial Servicescategory at the Dun & Bradstreet Rolta Corporate Awards 2011. The Corporat ion has won this award

five times. India Shining Star CSR Award for Outstanding CSR in the Banking and Financial Sector FY11

HDFC ranked among the wor ld 's seven best companies in f inancial services to sustain a compet itiveadvantage in the long-term by Goldman Sachs

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Thank YouJuly 19, 2012

hdfc july12 11

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