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v3.25.2

Business Combination (Tables) | 12 Months Ended
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Mar. 31, 2025
Business Combinations [Abstract] |
Asset acquired liabilities assumed In business combination | The following table provides a purchase price allocation to the identifiable assets acquired and liabilities assumed of eHDFC group and the noncontrolling interest at their estimated fair values as of the acquisition date.
|  | As of July 1, 2023, |
|  | (In millions) |
Consideration |  |  |  |  |  |  |  |
Common equity share issued (3,110,396,492 shares of the Bank) |  |  | Rs. 5,292,028.6 |  |  | US$ | 61,945.7 |
Share-based compensation |  |  | 35,240.7 |  |  |  | 412.5 |
Share warrants |  |  | 10,472.2 |  |  |  | 122.6 |
Fair value of total consideration transferred |  |  | 5,337,741.5 |  |  |  | 62,480.8 |
Settlement of pre-existing relationship (refer note below) |  |  | (69,312.6 | ) |  |  | (811.3 | )
Investment in the Bank by eHDFC (refer note below) |  |  | (1,981,494.4 | ) |  |  | (23,194.4 | )
Fair value of net purchase consideration transferred |  |  | 3,286,934.5 |  |  |  | 38,475.1 |
Acquisition-related costs |  |  | 1,900.0 |  |  |  | 22.2 |
Less: |  |  |  |  |  |  |  |
A. Recognised amounts of identifiable assets acquired |  |  |  |  |  |  |  |
Cash and due from banks |  |  | 10,344.1 |  |  |  | 121.1 |
Investment securities |  |  | 2,842,356.2 |  |  |  | 33,271.2 |
Loans - Net |  |  | 6,428,635.4 |  |  |  | 75,250.3 |
Accrued interest receivable |  |  | 37,276.7 |  |  |  | 436.3 |
Property and equipment |  |  | 39,136.2 |  |  |  | 458.1 |
Identified intangibles assets |  |  | 1,434,818.1 |  |  |  | 16,795.2 |
Other assets |  |  | 622,978.8 |  |  |  | 7,292.3 |
Separate account assets |  |  | 857,528.7 |  |  |  | 10,037.8 |
Total estimated assets acquired |  |  | 12,273,074.2 |  |  |  | 143,662.3 |
Add: |  |  |  |  |  |  |  |
B. Recognized amounts of identifiable liabilities assumed and Noncontrolling Interests |  |  |  |  |  |  |  |
Deposits |  |  | 1,571,204.5 |  |  |  | 18,391.7 |
Accrued expenses and other liabilities |  |  | 781,742.3 |  |  |  | 9,150.7 |
Borrowings |  |  | 4,977,276.5 |  |  |  | 58,261.5 |
Separate account liabilities |  |  | 857,528.7 |  |  |  | 10,037.8 |
Liabilities on policies in force |  |  | 1,499,749.1 |  |  |  | 17,555.3 |
Noncontrolling Interest in eHDFC subsidiaries |  |  | 926,787.1 |  |  |  | 10,848.5 |
Total estimated liabilities assumed |  |  | 10,614,288.2 |  |  |  | 124,245.5 |
Goodwill |  |  | 1,628,148.5 |  |  |  | 19,058.3 |
Goodwill recorded as a result of the acquisition to the Bank's reportable segments | The assignment of Goodwill recorded as a result of the acquisition to the Bank’s reportable segments is as follows:
Particulars |  | As of July 1, 2023, |
|  | (In millions) |
Retail Banking |  |  | Rs. 368,079.6 |  |  | US$ | 4,308.6 |
Wholesale Banking |  |  | 71,617.3 |  |  |  | 838.3 |
Insurance Services |  |  | 959,080.0 |  |  |  | 11,226.5 |
Others |  |  | 229,371.6 |  |  |  | 2,684.9 |
Total |  |  | 1,628,148.5 |  |  |  | 19,058.3 |
Major class of identifiable acquired intangible assets and estimated period of amortisation | The following table summarizes the major class of identifiable acquired intangible assets and estimated period of amortization-
|  | As of July 1, 2023 |
|  | Estimated Fair Value (In millions) |  |  | Useful lives (in years) |  |  | Valuation Methodology |
Intangible asset |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Brand |  | Rs. | 750,758.2 |  |  | US$ | 8,788.0 |  |  |  | Indefinite life |  |  |  | Relief from royalty method (a) |
Investment management contract |  |  | 369,785.6 |  |  |  | 4,328.5 |  |  |  | Indefinite life |  |  |  | Multi-period excess earnings method (b) |
Value of business acquired |  |  | 221,738.5 |  |  |  | 2,595.6 |  |  |  | Life of the underlying contracts |  |  |  | Refer below (c) |
Distribution network |  |  | 59,543.2 |  |  |  | 697.0 |  |  |  | 17 |  |  |  | Multi-period excess earnings method (b) |
Customer relationship |  |  | 29,874.9 |  |  |  | 349.6 |  |  |  | 17 |  |  |  | Multi-period excess earnings method (b) |
Transferable development rights |  |  | 3,117.7 |  |  |  | 36.5 |  |  |  | 8 |  |  |  | Comparison method |
Total |  |  | 1,434,818.1 |  |  |  | 16,795.2 |  |  |  |  |  |  |  |  |
Pro forma financial information | The unaudited pro forma information should not be relied upon as being indicative of the historical results of operations that would have occurred had the acquisition taken place on April 01, 2022.
|  | As of |
Particulars |  | March 31, 2023 |  |  | March 31, 2024 |
|  | (In million) |
Revenue (a) |  |  | Rs. 2,147,961.5 |  |  | US$ | 25,142.9 |  |  |  | Rs. 2,303,956.6 |  |  | US$ | 26,968.9 |
Net Income |  |  | 636,783.4 |  |  |  | 7,453.9 |  |  |  | 645,526.0 |  |  |  | 7,556.2 |
(a) Revenue includes net interest revenue and non-interest revenue. Acquisition costs are included in the periods where such expenses are incurred
Details of PCD of eHDFC | Following are the details of PCD of eHDFC acquired.
|  | As of July 1, 2023 |  |  |  |
Particulars |  | Wholesale |  |  | Retail |  |  | Total |  |  | Total |
|  | (In millions) |  |  |  |
Par value of PCD loans at acquisition |  | Rs. | 72,684.7 |  |  | Rs. | 43,961.6 |  |  | Rs. | 116,646.3 |  |  | US$ | 1,365.4 |
Allowance for credit losses on PCD loans at acquisition |  |  | 36,487.3 |  |  |  | 2,927.9 |  |  |  | 39,415.2 |  |  |  | 461.4 |
Fair value of receivables at acquisition |  |  | 36,197.4 |  |  |  | 41,003.0 |  |  |  | 77,200.4 |  |  |  | 903.7 |
Non-credit discount/(premium) on PCD loans at acquisition |  |  | — |  |  |  | 30.7 |  |  |  | 30.7 |  |  |  | 0.4 |
Details of pre-exiting relationship between HDFC Bank group ("the Bank and its subsidiaries") and eHDFC group | Following are the details of pre-existing relationship between HDFC Bank group (“the Bank and its subsidiaries”) and eHDFC group:
As of July 1, 2023 |
(In millions) |
Financial statement line items |  |  |  |
Cash and due from Banks |  | Rs. | 52,875.3 |  |  | US$ | 618.9 |
Investments, available for sale, at market |  |  | 18,407.5 |  |  |  | 215.5 |
Accrued expenses and other liabilities |  |  | (5,777.5 | ) |  |  | (67.6 | )
Other assets |  |  | 3,807.3 |  |  |  | 44.6 |
Net Assets |  | Rs. | 69,312.6 |  |  | US$ | 811.4 |

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