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Awards for the Year 2006-2007

HDFC BANK
We understand your world

The Asian Banker Achievement Award Our MD, Mr. Aditya Puri, won The Asian Banker Leadership Achievement Award for India in 2007 Global HR Excellence Awards Award for Institution Building and Most Innovative HR Practices Award in 2007 Business Today Award Best Bank in India in 2006 Businessworld Award 8 Best listed Bank of India in 2006

Euromoney Award * Best Bank in India in 2006 Forbes Magazine Award One of Asia Pacific's Best 50 companies in 2006 The Asset Magazine's Triple A Country Award Best Domestic Bank in India in 2006 Asiamoney Award Best Local Cash Management Bank in Large and Medium segments in 2006

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HDFC BANK
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Vibrancy in our Economy Velocity in our

Propelled by a vibrant economy, India is at the forefront of developing nations. At the heart of this growth story is a young middle-class population, with an increasing propensity to consume and invest, fuelling the demand for financial products. In synch with this vibrancy, HDFC Bank has undertaken deliberate strides to service and benefit from a rapidly growing economy. Our journey traverses multiple paths, exploring every avenue of value creation. Acknowledging the fast paced growth of consumerism in the country, retail banking forms a major thrust area for HDFC Bank. Expanding geography, acquisition of new, high-quality customers and end-to-end customer lifecycle management are the key drivers accelerating our growth. The economy's retail revolution has also spawned entrepreneurs across the country, leading to fast growing numbers in the capital-hungry Small and Medium Enterprises (SMEs). We have placed a sharp focus on servicing aspiring businessmen by providing them a gamut of funding and nonfunding solutions to fuel the growth of their businesses. The winds of change sweeping across the country have also spurred business development in rural India. Recognising the enormous growth opportunities that the rural market offers, HDFC Bank is rapidly making its presence felt across the entire supply chain of agricultural and nonagricultural segments. Today, we are pleased to provide a full range of banking services to our customers in some of the remotest recesses of our rural hinterland. Economic progress should not be reserved for the privileged few, but should also touch lives in every segment of our society. Giving more than 7000 self-help groups access to credit through NGOs and MFIs, our drive for delivering Microfinance is playing a meaningful role in ensuring that even the underprivileged sections of the populace are included in our growth story. Our strong sense of social responsibility has also driven us to undertake significant steps in enhancing our service to society by supporting several projects focused on education, health and rehabilitation.

The fundamental substance of HDFC Bank's business model lies in our capacity to adapt and successfully implement our understanding of the change forces of our economy, into long lasting value for our stakeholders.

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Financial Highlights
Interest Income

r
1997-1998
240,80 137,55 103,25 6,1,05 164,30 6,2,71 101,59
7,24 7,22

1998-1999
376,08 229,18 146.90 67,13 214,03 88,79 125,24
8,39 7,58

1999-2000
679,87 374,28 305,59 119,54 425,13 171,39 253,74 58,89 53,60

Interest Expense Net Interest Income

Other Income

Net Revenues Operating costs Operating Result

Provisions and Contingencies Loan Loss Provisions Amortisation on investments Others

2
94,35 31,20 63,15

81
116,85 34,45 82,40

5,29

Profit before tax

Provision for taxation

194,85 74,81 120,04

Profit after tax Funds:

Deposits Subordinated debt Stockholders' Equity Working Funds Loans Investments

2,191,74 100,00 285,13 2,829,98 841,98 1,121,33

2,915,11 135,00 338,93 4,349,96 1,400,56 1,903,80

8,427,72 1 50,00 751,52 11,731,03 3,462,34 5,748,28

Key Ratios:
Earnings per share (Rs) Return on Average Networth Tier 1 Capital Ratio Total Capital Ratio Dividend per share (Rs) Dividend payout ratio Book value per share as at March 31 (Rs) Market price per share as at March 31 (Rs)* Price to Earnings Ratio Rs. 10 Lac = Rs. 1 Million Rs. 1 Crore = Rs. 10 Million
3*. 16

4.12

5.93

23.87% 10.21% 13.92%

1.00

26.41 % 8.34%

29.00% 9.56% 12.19%

1.60

1 1 .86%
1.30

34.84% 14.30 70.80 22.42 ** Proposed

34.71% 16.90 69.15 16.78 *Source : NSE

29.96% 30.90 257.20 43.37

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(Rs. lacs)
I

2000-2001 1,259,46 753,75 505,71 176,57 682,28 309,59 372,69 57,63 52,96

2001-2002 1,702,99 1,073,74 629,25 335,90 965,15 417,95 547,20 121,82 85,77

2002-2003 2,013,61 1,191,96 821,65 465,55 1,287,20 577,05 710.15 139,30 88,39 50,44

2003-2004 ! 2,548,93 1,211,05 1,337,88 480,03 1.817,91 810,00 1,007,91 288,95 178,28 93,22

2004-2005 3,093,49 1,315,56 1,777,93 651,34 2.429,27 1,085,40 1,343,87 364,93 176,22 188,06

2005-2006 4,475,34 1,929,50 2,545,84 1,123,98 3,669,82 1,691,09 1,978,73 725,22 479,76 245,16

2006-2007 6,889,02 3,179,45 3,709,57 1,516,23 5,225,80 2,420,80 2,805,00 1,166,25 861,01 241,09 64,15 1,638,75 497,30 1,141,45

4,42

21,81 14,24
425,38 128,34 297,04

25
315,06 104,94 210,12

47
570,85 183,25 387,60

17,45
718,96 209,46 509,50

65
978,94 313,38 665,56

30
1.253,51 382,73 870,78

11,658,11 200,00 913,09 15,617,33 4,636,66 7,145,14

17,653,81 200,00 1,942,28 23,787,38 6,813,72 12,004,02

22,376,07 200,00 2,244,83 30,424,08 11,754,86 13,388,08

30,408,86 600,00 2,691,88 42,306,99 17,744,51 19,256,79

36,354,25 500,00 4,519,85 51,429,00 25,566,30 19,349,81

55,796,82 1,702,00 5,299,53 73,506,39 35,061,26 28,393,96

68,297,94 3,282,60 6,433,15 91,235,61 46,944,78 30,564,80

8.64

11.01
18.30% 10.81% 13.93%

13.75 18.10% 9.49% 11.12%

3.00

17.95 20.14% 8.03% 11.66%

3.50

22.92 20.44% 9.60% 12.16%

4.50

27.92 17.47% 8.55% 11.41%

5.50

36.29 19.40% 8.58% 13.08% 7.00** 22.92% 201.42 954.15 26.29

24.53% 8.69%

1 1 .09%
2.00

2.50
23.68% 69.00 236.60

25.55% 37.50 228.35 26.43

24.72% 79.60 234.55 17.06

22.15% 94.52 378.75 21.10

24.00% 145.86 573.64 25.03

22.55% 169.24 774.25 27.74

21.50

Financial Highlights
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PROFIT AFTER TAX

DIVIDEND PER SHARE

2007 - ^^^_ 2006 2005 2004 2003 2002

2001
S&L- ' . I " '
tfeV>-,.

1,141 R71 666

510

2006 2005
t
I

55
\ 45 35 30 25 20 16 13
1.0

.&.. ---

2004 .

til'.
&t_

3RR 297 210 120

5
to * cr>
70 UJ

2003 _ 2002 _
2001 _

[ J ;

2000
1999 1998 1997

2000 _
1999 _ 1998 _ 1997 _

82 63 41

OR

(Rs. Crores)

(Rs.)

BALANCE SHEET SIZE

ADVANCES

2007 200& 200S (Rs. Crores)

91,236 73,506 51,429

2007. 2006. 2005. (Rs. Crores)

46,945 35,061 25,566

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HDFC BANK
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EARNING PER SHARE

BRANCHES 2007 2006

684 535
467

2006 20052004200320022001

---

"> ~>

7 Q

22 92 17 95
1375

2005

(Nos)

11 01 8 64 5 93

ATMS 2007

200019991998 1997

1605
.1323 .1147

4 12 3 16
203

2006 2005

(Rs.)

(Nos)

RETAIL ASSETS 2007. 2006. 2005. (Rs. Crores) 28327 2007 2006 2005

CITIES

316
228 211

21231 11817

(Nos.)

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CAPITAL ADEQUACY (%)

NPA % TO CUSTOMER ASSETS 200720062005

1.2% 0.4%
1.2% 0.4%

1.5% 0.2%

Gross NPA %

Net NPA %

NET INTEREST MARGIN

RETURN ON CAPITAL

DEPOSITS 2007 2006 68,298 55,797 36,354 (Rs. Crores)

SAVINGS DEPOSITS

2007 2006
2005

19,585 16,186
11,418

(Rs. Crores)

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HDFC BANK
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AVERAGE SAVINGS BALANCE PER ACCOUNT 2007

200

COST TO REVENUE

40,483

35,515 31,888 (Rs.)

200

DEBIT CARDS

CREDIT CARDS

2007 2006 2005 (Nos in Lacs)

41.3

39.2
29.8 2005 (Nos in lacs)
12.6

(RUPEE EARNED
Commission, Exchange and Brokerage 15.25%

/^RUPEE SPENT
Tax
Provisions Dividend & Tax on Dividend Trans to Reserve Operating Expense Interest Expense Loss on Investment

Other Interest Income 3.02% FX and Derivative Income Interest from Investments Others Interest from Advances 331%

0.87%

Graphs
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to O

Mr. Jagdish Capoor, chairman

Mr. Aditya Purl, Managing Director

U a; Q
M

Executive Vice President (Legal) & Company Secretary

Mr. Sanjay Dongre

Mr. Keki Mistry Mr. Vineet Jain Mrs. Renu Karnad Mr. Arvind Pande Mr. Ashim Samanta Mr. C. M. Vasudev
(Appointed as Additional Director w.e.f. 17.10.2006)

O
fO

Auditors
M/s. Haribhakti & Co., Chartered Accountants

O 00

Mr. Gautam Divan

(Appointed as Additional Director w.e.f. 17.10.2006)

Mr. Bobby Parikh

(Resigned w.e.f. 17.10.2006)

Registered Office
HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel: 5652 1000 Fax: 2496 0737 Website : www.hdfcbank.com

Dr. Venkat Rao Gadwal

(Relinquished Office w.e.f. 14.3.2007)

Dr. Pandit Palande

(Appointed as Additional Director w.e.f. 24.04.2007)

E
03

Mr. A Parthasarthy Mr. A. Rajan Mr. Abhay Aima Mr. Bharat Shah

Registrars & Transfer Agents Datamatics Financial Services Ltd

Plot No. A. 16 & 17, Part B Crosslane, MIDC, Marol, Andheri (East), Mumbai 400093 Tel: 66712151-56. (Extn Nos. 207, 264 and 220) Fax: 28213404; E-mail: hdinvestors@dfssl.com

E <u 0}
03
C 03

Mr. C. N. Ram
Mr. G. Subramanian Mr. Harish Engineer Mr. Kaizad Bharucha Mrs. Mandeep Maitra Mr. Paresh Sukthankar

C O)

Mr. Pralay Mondal Mr. Sudhir M. Joshi Mr. Vinod G. Yennemadi

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