HDFC Bank will announce its second-quarter results for FY27 on Saturday, 17 October 2026, according to Upstox, BusinessToday and Kotak Neo. It is the bank’s first quarterly result under its new managing director and chief executive, Anup Bagchi, and analysts expect a muted set of numbers, with single-digit growth in net profit and net interest income, according to Upstox.
The estimates differ by source. BusinessToday gives a net profit estimate of Rs 19,606 crore and net interest income (NII) of Rs 34,992 crore, which are Bloomberg consensus figures according to another search summary. Upstox says that net profit could rise only 1 to 3 per cent to between Rs 18,850 crore and Rs 18,930 crore. Business Standard reported that the bank’s profit in the second quarter of FY26 was Rs 18,641 crore, which would make the Upstox range an increase of about 1.1 to 1.5 per cent and the Bloomberg figure an increase of about 5.2 per cent, calculations by IndiaX24.
The difference of about Rs 700 crore between the two estimates is the main uncertainty. The reports reviewed do not say how many analysts are included in each estimate or when they were compiled, so IndiaX24 shows both rather than picking one.
The bank’s own business update for the quarter gives a clear picture of growth. Gross advances grew 16.3 per cent from a year earlier to Rs 32.19 lakh crore, deposits grew 16.8 per cent to Rs 31.66 lakh crore, and CASA deposits, which are current and savings account balances, grew 10.7 per cent to Rs 9.71 lakh crore, according to Upstox. Advances of Rs 32.19 lakh crore against deposits of Rs 31.66 lakh crore mean that the bank lent about 101.7 per cent of its deposits, a ratio that IndiaX24 has calculated and that the reports reviewed do not state.
Margins are the key question. Net interest margin is expected to remain flat from the previous quarter, reflecting continuing pressure on profitability after the merger, according to Upstox. BusinessToday expects the core net interest margin at 3.27 per cent and gross non-performing assets at 1.14 per cent. A flat margin with loans growing at 16.3 per cent suggests that profit growth will come from volume and not from better pricing.
The leadership change adds attention. Kotak Neo’s preview and Upstox both mention the transition, and Upstox says that the stock has fallen more than 26 per cent over the year amid governance concerns and leadership changes. The reports reviewed do not describe those concerns in detail, so IndiaX24 does not characterise them.
The share price has recovered from its low. HDFC Bank shares have risen from a September low near Rs 681 to about Rs 729, according to Upstox, and the options market implies a trading range of roughly Rs 704 to Rs 752 until the 27 October expiry. BusinessToday gives a target price of Rs 981.65, which would be 34.9 per cent above the current price, and that target is one analyst’s view and not a forecast by the bank.
HDFC Bank is one of four large banks reporting on 17 October. ICICI Bank, Axis Bank and Yes Bank are also due, as IndiaX24 reports in a separate article. The first three together account for about 42.85 per cent of the Nifty Bank index weight, according to BusinessToday, so their results can move the sector index.
IndiaX24 will report the bank’s actual results and the market reaction when they are published.
Image: An HDFC Bank branch in Mysuru (file photo). Photo by Christopher J. Fynn, licensed under CC BY-SA 4.0, via Wikimedia Commons.