Assumptions blue workbook inputs
Revenue modelIncome statementBalance sheetCash flowScenariosDCF inputs editable input estimate years Expand
HDFC Bank Limited - Standalone Balance Sheet — INR billion | fiscal year ends 31 March | FY2024A-FY2026A audited standalone Indian GAAP, FY2027E-FY2031E projected | Blue = driver assumption (editable) Black = actual or formula Green = cross-sheet link Red = structural-break flag | Projections: cash and balances with the Reserve Bank of India is the balancing item
| FY2024A | FY2025A | FY2026A | FY2027E | FY2028E | FY2029E | FY2030E | FY2031E | |
|---|---|---|---|---|---|---|---|---|
| CAPITAL AND LIABILITIES | ||||||||
| Share capital (face value INR 1 per share, as reported) | 7.60 | 7.65 | 15.39 | 15.46 | 15.52 | 15.58 | 15.64 | 15.70 |
| Employees stock options and units outstanding | 26.53 | 38.05 | 45.45 | 48 | 50 | 52 | 54 | 56 |
| Reserves and surplus | 4,368 | 4,969 | 5,568 | 6,147 | 6,827 | 7,642 | 8,568 | 9,587 |
| NET WORTH | 4,402 | 5,014 | 5,629 | 6,211 | 6,893 | 7,710 | 8,637 | 9,659 |
| Net worth roll-forward: opening balance | 5,629 | 6,211 | 6,893 | 7,710 | 8,637 | |||
| add: net profit for the year | 774.11 | 904.14 | 1,077 | 1,226 | 1,359 | |||
| less: dividends declared for the year | -247.36 | -279.36 | -319.39 | -359.72 | -400.35 | |||
| add: proceeds from share capital and ESOP exercises (driver) | 55 | 57 | 59 | 61 | 63 | |||
| Deposits | 23,798 | 27,147 | 31,053 | 35,245 | 39,650 | 44,408 | 49,515 | 54,962 |
| Borrowings | 6,622 | 5,479 | 4,894 | 5,200 | 5,600 | 6,050 | 6,550 | 7,100 |
| Other liabilities and provisions | 1,354 | 1,461 | 2,073 | 2,256 | 2,498 | 2,753 | 3,070 | 3,408 |
| Other liabilities as % of deposits | 5.69% | 5.38% | 6.68% | 6.4% | 6.3% | 6.2% | 6.2% | 6.2% |
| TOTAL CAPITAL AND LIABILITIES | 36,176 | 39,102 | 43,649 | 48,911 | 54,641 | 60,921 | 67,772 | 75,128 |
| ASSETS | ||||||||
| Cash and balances with the Reserve Bank of India (balancing item) | 1,787 | 1,444 | 2,007 | 1,597 | 1,619 | 1,768 | 2,073 | 2,485 |
| Cash and RBI balances as % of deposits (memo) | 7.51% | 5.32% | 6.46% | 4.53% | 4.08% | 3.98% | 4.19% | 4.52% |
| Cash reserve ratio requirement (RBI, % of net demand and time liabilities) | 4.5% | 4.5% | 3% | 3% | 3% | 3% | 3% | 3% |
| Balances with banks and money at call and short notice | 404.64 | 952.16 | 977.87 | 1,093 | 1,229 | 1,377 | 1,535 | 1,704 |
| Investments, net | 7,024 | 8,364 | 8,842 | 10,045 | 11,300 | 12,656 | 14,112 | 15,664 |
| Advances, net | 24,849 | 26,196 | 29,372 | 33,482 | 37,469 | 41,744 | 46,297 | 51,114 |
| Fixed assets, net | 113.99 | 136.55 | 147.25 | 157 | 168 | 179 | 191 | 204 |
| Other assets | 1,998 | 2,010 | 2,303 | 2,538 | 2,855 | 3,197 | 3,565 | 3,957 |
| Other assets as % of deposits | 8.4% | 7.4% | 7.42% | 7.2% | 7.2% | 7.2% | 7.2% | 7.2% |
| TOTAL ASSETS | 36,176 | 39,102 | 43,649 | 48,911 | 54,641 | 60,921 | 67,772 | 75,128 |
| BALANCE CHECK (total assets less total capital and liabilities - must be nil) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DEPOSIT AND ADVANCE COMPOSITION (memo) | ||||||||
| Demand deposits (audited disclosure; the model drives CASA in aggregate) | 3,100 | 3,141 | 3,545 | |||||
| Savings bank deposits (audited disclosure) | 5,987 | 6,305 | 7,058 | |||||
| CASA deposits | 9,088 | 9,446 | 10,603 | 11,454 | 13,085 | 14,877 | 16,835 | 18,687 |
| Term deposits | 14,710 | 17,702 | 20,450 | 23,790 | 26,566 | 29,531 | 32,680 | 36,275 |
| CASA ratio % | 38.19% | 34.79% | 34.15% | 32.5% | 33% | 33.5% | 34% | 34% |
| Gross advances (standard plus non-performing) | 25,079 | 26,435 | 29,601 | 33,743 | 37,761 | 42,069 | 46,657 | 51,513 |
| Loan-to-deposit ratio % (net advances / deposits) | 104.42% | 96.5% | 94.59% | 95% | 94.5% | 94% | 93.5% | 93% |
| Contingent liabilities | 22,968 | 26,474 | 34,179 | 38,151 | 42,620 | 47,518 | 52,862 | 58,600 |
| Contingent liabilities as % of total assets | 63.49% | 67.71% | 78.31% | 78% | 78% | 78% | 78% | 78% |
| Period-end shares outstanding, restated for the FY2026 1:1 bonus (m) | 15,194 | 15,304 | 15,393 | 15,460 | 15,520 | 15,580 | 15,640 | 15,700 |
| Book value per share (INR, restated for the bonus) | 289.75 | 327.63 | 365.68 | 401.73 | 444.11 | 494.84 | 552.25 | 615.21 |
| CAPITAL ADEQUACY (Basel III) | ||||||||
| Total risk-weighted assets | 24,680 | 26,600 | 29,741 | 33,504 | 37,156 | 41,426 | 46,085 | 51,087 |
| RWA density (RWA / total assets) % | 68.22% | 68.03% | 68.14% | 68.5% | 68% | 68% | 68% | 68% |
| CET 1 capital | 4,022 | 4,582 | 5,141 | 5,652 | 6,272 | 7,016 | 7,860 | 8,790 |
| CET 1 capital as % of net worth | 91.37% | 91.38% | 91.33% | 91% | 91% | 91% | 91% | 91% |
| Additional Tier 1 capital | 120.50 | 122.56 | 132.12 | 132 | 132 | 132 | 132 | 132 |
| Tier 1 capital | 4,143 | 4,705 | 5,273 | 5,784 | 6,404 | 7,148 | 7,992 | 8,922 |
| Tier 2 capital | 497.21 | 495.76 | 589.34 | 620 | 660 | 710 | 770 | 840 |
| Total regulatory capital | 4,640 | 5,200 | 5,862 | 6,404 | 7,064 | 7,858 | 8,762 | 9,762 |
| CET 1 ratio % | 16.3% | 17.23% | 17.28% | 16.87% | 16.88% | 16.94% | 17.06% | 17.2% |
| Tier 1 ratio % | 16.79% | 17.69% | 17.73% | 17.26% | 17.24% | 17.25% | 17.34% | 17.46% |
| Total capital adequacy ratio % | 18.8% | 19.55% | 19.71% | 19.11% | 19.01% | 18.97% | 19.01% | 19.11% |
| Regulatory minimum total capital ratio (incl. CCB and D-SIB surcharge) % | 11.7% | 11.7% | 11.9% | 11.9% | 11.9% | 11.9% | 11.9% | 11.9% |
| Headroom over the regulatory minimum (percentage points) | 7.10 | 7.85 | 7.81 | 7.21 | 7.11 | 7.07 | 7.11 | 7.21 |
| ASSET QUALITY | ||||||||
| Gross non-performing assets | 311.73 | 352.23 | 340.61 | 388.05 | 453.14 | 504.83 | 559.89 | 618.15 |
| Gross NPA ratio % (driver) | 1.24% | 1.33% | 1.15% | 1.15% | 1.2% | 1.2% | 1.2% | 1.2% |
| Provisions held against non-performing assets | 230.82 | 239.02 | 228.92 | 259.99 | 303.60 | 338.24 | 375.13 | 414.16 |
| Provision coverage ratio % (specific, excluding write-offs) (driver) | 74.04% | 67.86% | 67.21% | 67% | 67% | 67% | 67% | 67% |
| Net non-performing assets | 80.92 | 113.20 | 111.69 | 128.06 | 149.54 | 166.59 | 184.76 | 203.99 |
| Net NPA ratio % (net NPA / net advances) | 0.33% | 0.43% | 0.38% | 0.38% | 0.4% | 0.4% | 0.4% | 0.4% |
| Floating provisions, closing balance (held in other liabilities) | 109 | 123.51 | 213.51 | 213.50 | 213.50 | 213.50 | 213.50 | 213.50 |
| Contingent provision held against standard assets (closing balance) | 106.64 | 108.63 | 116.21 | 126.21 | 137.21 | 149.21 | 162.21 | 176.21 |
| Total loss-absorbing provisions as % of gross NPAs | 143.22% | 133.77% | 164.01% | 154.54% | 144.4% | 138.85% | 134.1% | 130.04% |
| STRUCTURAL BREAK - FY2024 is the amalgamation year (HDFC Limited merged into the Bank on 1 July 2023). The FY2024 balance sheet is a merged balance sheet but the FY2024 income statement carries only nine months of the merged entity. FY2024 borrowings of INR 6,621.5bn include the legacy eHDFC Limited wholesale book; INR 2,250.2bn of that book was still outstanding at 31 March 2026, roughly 20% maturing by FY2028. Its run-off is the reason borrowings fall from 18% of total liabilities at March 2024 to 11% at June 2026, and is modelled explicitly on the Revenue model tab rather than as a growth rate. | ||||||||
| FY2026 other liabilities of INR 2,073.4bn are inflated by a presentation change: gross unrealised derivative losses of INR 558.9bn (prior year INR 140.8bn) are now shown in other liabilities with the matching gross gains in other assets. The projection driver on row 18 is set below the FY2026 ratio for that reason, and closer to the 5.7% observed at 30 June 2026. | ||||||||
| The balancing item is cash and balances with the Reserve Bank of India. Row 23 must stay comfortably above the CRR requirement on row 24 (3.0% of net demand and time liabilities since the reporting fortnight beginning 29 November 2025, cut from 4.0% in four tranches during FY2026). The projected range of 4.0% to 4.5% of deposits leaves headroom and is consistent with the 30 June 2026 position. | ||||||||
| Row 72 sums specific, floating and standard-asset provisions over gross NPAs and reads 164% for FY2026 on the audited figures. The Bank quotes 210% in its management commentary on a wider, management-defined basis that does not reconcile to the audited schedules; the audited basis is used here. Gross advances (row 41) are projected on the FY2026 gross-to-net ratio. Statutory liquidity ratio requirement is 18.0% of net demand and time liabilities; investments run at 28.5% of deposits, well above it. |