HDFC's asset quality remain stable with gross stage 3 assets stood at 2.28% vs 2.19% QoQ; better than estimated. Also, restructured assets stood at 0.9% of AUM which majorly comprises of one large real estate builder group (0.5% of AUM). PAT declined by 65%YoY; however adjusted for dividend, fair value gain (merger of Gruh with Bandhan bank), net gains on assigned loans, provisioning and employee stock option, PBT grew by 27% YoY. Collection efficiency for individual loans for December month stood at 97.6% vs 96.3% for September month. Disbursements for individual loan segment grew by 26% YoY reflects housing demand remains robust. December 2020 witnessed the highest ever levels in terms...