Business Combination (Tables)

12 Months Ended

Mar. 31, 2025

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