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Goodwill and Intangible assets (Tables)
 12 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Carrying Amount of Goodwill
The following table represents the changes in the carrying amount of goodwill reported in the consolidated balance sheets for the year ended March 31, 2023 and March 31, 2024:
 
 
 
As of March 31, 2024
 
 
 
Retail

Banking
 
 
Wholesale
Banking
 
 
Treasury
Services
 
 
Insurance
Services
 
 
Others
 
 
Total
 
 
Total
 
 
 
 
 
 
(In millions)
 
 
 
 
Balance as at March 31, 2022
 
 
Rs.74,937.9
 
 
 
Rs.— 
 
 
 
Rs.— 
 
 
 
Rs.   — 
 
 
 
Rs.    — 
 
 
 
Rs.74,937.9
 
 
US$
899.3
 
Balance as at March 31, 2023
 
 
74,937.9
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
74,937.9
 
 
 
899.3
 
Goodwill on acquisition during the year
 
 
368,079.6
 
 
 
71,617.3
 
 
 
— 
 
 
 
959,080.0
 
 
 
229,371.6
 
 
 
1,628,148.5
 
 
 
19,536.2
 
Less: Goodwill Derecognised on disposal during the year
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
73,576.1
 
 
 
.73,576.1
 
 
 
882.9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at March 31, 2024
 
 
Rs.443,017.5
 
 
 
Rs.71,617.3
 
 
 
Rs.— 
 
 
 
Rs.959,080.0
 
 
 
Rs.155,795.5
 
 
 
Rs.1,629,510.3
 
 
US$
19,552.6
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intangible Assets, Net
Intangible assets, net, consists of the following:
 
 
 
  
As of,
 
 
  
July 1, 2023
 
  
March 31, 2024
 
  
March 31, 2024
 
 
  
(Rs. in millions)
 
Brand
      Rs.  750,758.2        Rs.  742,230.7      US$  8,906.1  
Investment management contract
      369,785.6        369,785.6        4,437.1  
Value of business acquired
      221,738.5        221,738.5        2,660.6  
Distribution network
      59,543.2        50,570.8        606.9  
Customer Relationship
      29,874.9        29,874.9        358.4  
Transferable Development Rights
      3,117.7        3,117.7        37.4  
Intangible Assets
      Rs. 1,434,818.1        Rs. 1,417,318.2      US$   17,006.5  
Less: Accumulated amortization
      —        21,201.0        254.4  
  
 
 
     
 
 
     
 
 
  
Total intangible assets, net
      Rs. 1,434,818.1        Rs. 1,396,117.2      US$  16,752.1  
  
 
 
     
 
 
     
 
 
  
 
(*)
All the above intangible assets excluding Brand and Investment Management Contract are subject to amortization. Further, intangible assets include Brand amounting to Rs. 8,527.5 million (US $ 102.3
 
million
) and Distribution network amounting to Rs. 8,972.4 million (US $ 107.6
 
million) pertaining to HDFC Credila Financial Services Limited which is classified as held for sale as on date of acquisition. These have been derecognized following the divestment of stake on March 19, 2024.
Future Amortization of Finite Lived Intangible Assets
At March 31, 2024, the expected future amortization of finite-lived intangible assets is as follows:

 
 
  
As of March 31, 2024
 
 
  
(in millions)
 
Fiscal year ending March 31:
  
  
2025
      Rs.  21,827.1      US$  261.9  
2026
      19,843.8        238.1  
2027
      18,138.2        217.6  
2028
      16,298.0        195.6  
2029
      14,661.8        175.9  
Thereafter
       193,332.0         2,319.8