HDFC Ltd has posted a 24.65 per cent rise in its net profit at Rs 182.81 crore (Rs 1.83 billion) for the third quarter ended December 30, 2003 as against Rs 146.65 crore (Rs 1.47 billion) for the same period in 2002-03.

The income from the operations in the reporting quarter rose marginally to Rs 744.84 crore (Rs 7.45 billion) from Rs 732.45 crore (Rs 7.32 billion) in the October-December 2002, HDFC said in a release in Mumbai on Friday.

The net profit and income from operations for the nine months ended December 30, 2003 stood at Rs 553.81 crore (Rs 5.54 billion) [Rs 451.10 crore (Rs 4.51 billion) in Q3 of 2002-03] and Rs 2,244.45 crore (Rs 22.44 billion) [Rs 2,178.15 crore (Rs 21.78 billion)] respectively, it said.

The housing loan approvals in the nine months grew by 30 per cent to touch Rs 10,390.01 crore (Rs 103.90 billion) from Rs 8,004.82 crore (Rs 80.05 billion) in April-December 2002, the release said.

The disbursements during nine months ended December 2003 rose by 29 per cent at Rs 8,345.83 crore (Rs 83.46 billion) [Rs 6,491.46 crore (Rs 64.91 billion)], it said, adding the approvals and disbursements in respect of individual loans were higher by 33 per cent and 28 per cent, respectively over nine months of 2002-03.

The loan portfolio, inclusive of investment in preference shares, debentures and inter-corporate deposits to finance real estate projects, as on December 31, 2003 amounted to Rs 26,429 crore (Rs 264.29 billion) [Rs 21,184 crore (Rs 211.84 billion) as on December 31, 2002].