5444292025-10-012025-12-315444292025-12-315444292025-04-012025-12-315444292025-10-012025-12-31in-capmkt:OtherRevenueFromOperations1Member5444292025-04-012025-12-31in-capmkt:OtherRevenueFromOperations1Member5444292025-10-012025-12-31in-capmkt:OtherExpenses1Member5444292025-04-012025-12-31in-capmkt:OtherExpenses1Member5444292025-10-012025-12-31in-capmkt:ReportableSegments1Member5444292025-10-012025-12-31in-capmkt:ReportableSegments2Member5444292025-04-012025-12-31in-capmkt:ReportableSegments1Member5444292025-04-012025-12-31in-capmkt:ReportableSegments2Member5444292025-10-012025-12-31in-capmkt:ReportableSegments1Member5444292025-10-012025-12-31in-capmkt:ReportableSegments2Member5444292025-04-012025-12-31in-capmkt:ReportableSegments1Member5444292025-04-012025-12-31in-capmkt:ReportableSegments2Member5444292025-10-012025-12-31in-capmkt:ReportableSegments1Member5444292025-12-31in-capmkt:ReportableSegments1Member5444292025-10-012025-12-31in-capmkt:ReportableSegments2Member5444292025-12-31in-capmkt:ReportableSegments2Member5444292025-10-012025-12-31in-capmkt:ReportableSegments1Member5444292025-12-31in-capmkt:ReportableSegments1Member5444292025-10-012025-12-31in-capmkt:ReportableSegments2Member5444292025-12-31in-capmkt:ReportableSegments2Member5444292025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15444292025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15444292025-10-012025-12-31ItemsThatWillBeReclassifiedToProfitAndLoss15444292025-10-012025-12-31ItemsThatWillBeReclassifiedToProfitAndLoss25444292025-04-012025-12-31ItemsThatWillBeReclassifiedToProfitAndLoss15444292025-04-012025-12-31ItemsThatWillBeReclassifiedToProfitAndLoss25444292025-10-012025-12-31AuditorDomain15444292025-10-012025-12-31AuditorDomain25444292025-12-31Statement15444292025-10-012025-12-31Statement1iso4217:INRxbrli:pureiso4217:INRxbrli:shares544429HDBFSNOTLISTEDINE756I08058HDB Financial Services LimitedMain BoardEquity2025-04-012026-03-312026-01-142025-12-26INRMillionsQuarterlyThird quarterMulti segment2026-01-1411:15:002026-01-1416:40:00Declaration of unmodified opiniontrue1falseThe Company has not defaulted on any loans and debt securities during quarter ended December 31, 20252025-10-012025-12-31UnauditedStandalone3989017000000072200000-40000003062000000371090000046734870000046734870000000102526000001703960000051220000000071223000003205100000381318000008603070000086030700002111150000526400002163790000643928000000006439280000-10860000063306800008300380000107.767.74007.767.740.0491001. HDB Financial Services Limited ('the Company') is a Non-Banking Financial Company registered with the Reserve Bank of India. The Reserve Bank of India, under Scale Based Regulations has categorised the Company as Upper Layer (NBFC-UL), vide it’s circular dated January 16, 2025. <BR> <BR> 2.The unaudited financial results have been prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standards ('Ind AS') 34 Interim Financial Reporting as prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time, other recognised accounting practices generally accepted in India, the circulars guidelines and directions issued by Reserve Bank of India from time to time and other relevant provisions of the Act and in compliance with Regulations 33 and 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time. <BR> <BR> 3.The above results for the quarter and nine months ended December 31, 2025, have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on January 14, 2026 and have been reviewed by the Joint Statutory Auditors. <BR> <BR> 4.The Secured listed non-convertible debt securities of the Company are secured by first pari passu mortgage on immovable property situated at Heera Panna Commercial Complex, 3rd Floor, Dr. Yagnik Road, Rajkot and/or first and exclusive charge on receivables of the Company by way of hypothecation to the extent of minimum 1.0 times of the outstanding principal and interest thereon. <BR> <BR> 5.Pursuant to Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 read with Master Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper dated May 22, 2024, as amended from time to time, the Company has listed its Commercial Papers on National Stock Exchange of India Limited (NSE). <BR> <BR> 6.During the nine months ended December 31, 2025, the Company has raised equity capital through Initial Public Offer (IPO), of 16,89,18,917 equity shares of Rs. 10 each, comprising a fresh issue of 3,37,83,782 equity shares and 13,51,35,135 equity shares offered for sale by the selling shareholders. The equity shares were issued at a price of Rs 740 per equity share (including a Share Premium of Rs. 730 per equity share). Pursuant to the aforesaid allotment of equity shares, the issued, subscribed and paid- up capital of the Company stands increased to Rs 8,300 million (83,00,38,180 Equity shares of Rs 10 each) and securities premium stands increased to Rs.58,260 million (net of offer expenses Rs.434 million). The Company's equity shares were listed on National Stock Exchange of India Limited and on BSE Limited on July 02, 2025. <BR> <BR> 7.Details of loans transferred / acquired during the quarter ended December 31, 2025 under the Reserve Bank of India (Non-Banking Financial Companies - Transfer and Distribution of Credit Risk) Directions, 2025 and Reserve Bank of India (Non-Banking Financial Companies – Financial Statements: Presentation and Disclosures) Directions, 2025 dated November 28, 2025 are given below: <BR> <BR> (i)The company has transferred Non-Performing Assets. <BR> (ii)The company has not transferred any loan not in default. <BR> (iii)The company has not acquired any special mention account. <BR> (iv)The company has not acquired any stressed loan and loan not in default. <BR> <BR> 8.The Company does not have investment in any subsidiaries, associates, joint ventures or controlled structure entity during the nine months and thus requirement of the consolidated financial results for the quarter and nine months ended December 31, 2025 is not applicable. <BR> <BR> 9.Effective November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 collectively referred to as the ‘New Labour Codes’ - consolidating 29 existing labour laws. The Ministry of Labour & Employment has published draft Central Rules and FAQs on December 30, 2025, to facilitate assessment of the financial impact arising from these regulatory changes. Under IND AS 19, changes to employee benefit plans arising from the New Labour Codes constitute plan amendments and they are required to be treated as past service costs and recognised as an expense in the statement of profit and loss. Accordingly, the New Labour Codes has resulted in an estimated increase in provision for employee benefits of Rs.605 million and the same has been recognized under the head “Employee Benefit Expenses” in the quarter and nine months ended December 31, 2025.The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting treatment on the basis of such developments as needed.2025-04-012025-12-31UnauditedStandalone117070420000000455600000-112000000930430000010024500000136843620000013684362000000029430700000513769000001550000000000213017000009433200000113092500000237511200000237511200006113480000-294480000581900000017932120000000017932120000-4704000001746172000083003800001021.921.830021.921.830.049100Not ApplicableNot ApplicableOther financial charges3710900000Other financial charges10024500000Others expenses3205100000Others expenses9433200000Lending business43673010000BPO Services3061860000Lending business127539060000BPO Services9304560000467348700001368436200000046734870000136843620000Lending business8572000000BPO Services180000000Lending business23591090000BPO Services60663000087520000002419772000000148930000446600000860307000023751120000Lending business1173555580000BPO Services1865820000117542140000093653000001184786700000Lending business983001450000BPO Services23930000009853944500001002510000986396960000Remeasurement loss on defined benefit plan-58700000-58700000Remeasurement loss on defined benefit plan-156400000-156400000-14800000-39400000Change in fair value of debt instruments measured at fair value through other comprehensive income244300000Movement in cash flow hedge reserve-330800000-86500000Change in fair value of debt instruments measured at fair value through other comprehensive income112000000Movement in cash flow hedge reserve-584300000-472300000-21800000-118900000-108600000-470400000UnauditedtrueM/s. Kalyaniwalla & Mistry LLPtrue2027-07-31M/s. G. D. Apte & Co.true2026-11-30Public Issues2025-06-30250000000002025-12-31trueCARE Ratings LimitedfalseDipti Jayesh KhandelwalCompany Secretary and Compliance OfficerMumbai2026-01-14