Here’s what key brokerages expect from HDFC Bank Q1FY27 results on July 18, 2026:
Motilal Oswal Financial Services
Motilal Oswal expects the bank’s Net Interest Income (NII) to rise 8.5 per cent year-on-year to ₹34,100 crore. The brokerage further added that Net Interest Margins (NIM) are likely to remain largely flat, declining by around 2 basis points Q-o-Q due to seasonal agricultural stress.
The lender’s net profit is expected to spike 5.9 per cent year-on-year to ₹19,230 crore. Meanwhile, loan growth is expected at 14.5 per cent Y-o-Y and 2.4 per cent Q-o-Q, led by corporate, business banking, agriculture and gold loans, while mortgage loan growth may remain subdued, the brokerage noted.
Axis Direct
Axis Direct expects the bank to report a growth of 8.6 per cent year-on-year in net interest income to ₹34,154 crore. Meanwhile, non-interest income is expected to fall 39.4 per cent y-o-y and log a decline of 0.2 per cent quarter-on-quarter.
The brokerage expects the lender’s pre-provision operating profit to decline 20 per cent year-on-year to ₹28,582 crore. Similarly, provisions are expected to fall 78.9 per cent on an annual basis to ₹3,044 crore but expected to gain 16 per cent quarter-on-quarter.
Axis expects HDFC Bank to report a 7.3 per cent gain in net profit to ₹19,484 crore year-on-year and 1.4 per cent on quarterly basis.
The brokerage expects sharp decline in non-interest income due to the high base of Q1FY26, when the bank booked gains from the HDB Financial Services stake sale.
Systematix Research
Systematix Research expects the bank to report a 9.2 per cent rise in net interest income to ₹34,335 crore year-on-year and a 3.8 per cent gain quarter-on-quarter.
The bank’s other income will likely fall by 41.5 per cent on an annual basis to ₹12,721 crore; the drop will likely consolidate on a quarterly basis to 3.6 per cent.
As per the brokerage, HDFC Bank is expected to report a pre-provision operating profit of ₹28,863 crore for the June quarter, up 3.8 per cent sequentially but down 19.2 per cent year-on-year. Provisions are estimated at ₹2,985 crore, rising 14.4 per cent quarter-on-quarter but seen declining sharply 79.3 per cent year-on-year due to a high base in the year-ago period. Consequently, the bank’s net profit is projected to increase 9 per cent year-on-year and 3 per cent quarter-on-quarter to ₹19,796 crore.
Systematix expects loan growth to remain stronger than the industry average. But net interest margins are likely to stay flat sequentially. Meanwhile, fee income may decline due to seasonal factors, while operating expenses are expected to remain well controlled. ============================================================================================== Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers discretion is advised.
