HDFC BANK With 3.

6% share of India's total non-food credit disbursements in FY10, HDFC Bank is the second largest private sector bank in the country (after ICICI Bank) in terms of asset size. At the end of March 2010, it had a franchise of 4,232 ATMs and 1,725 branches. Retail assets constituted 60% of advances in FY10. The bank is focusing on loan origination in the retail, SME (small and medium enterprises) and agriculture segments and on non-fund based products and services. Its group companies, HDFC Standard Life (insurance), HDFC AMC (mutual funds) and HDFC Securities (equities) add scalability to the bank's offerings. PNB Punjab National Bank is the third largest banking entity in the country (in terms of asset size) with 4.6% share of the total credit disbursals at the end of FY10. An operating overhaul in terms of asset quality and retention of high margins has helped the bank position itself favourably amongst its peers and marginally enhance its share this fiscal. Thereon, adequate capital, high NPA coverage and interest rate insulation has pegged the bank amongst the frontrunners in the public sector banking space. EQUITY SHARE DATA
HDFC BANK 31/3/2011 High Low Sales per share Earnings per share Cash flow per share Dividends per share Dividend yield (eoy) Book value per share Shares outstanding (eoy) Bonus/Rights/Conversions Price / Sales ratio Avg P/E ratio P/CF ratio (eoy) Price / Book Value ratio Dividend payout Avg Mkt Cap No. of employees Total wages/salary Avg. sales/employee Avg. wages/employee Avg. net profit/employee x x x x % Rs m `000 Rs m Rs Th Rs Th Rs Th Rs Rs Rs Rs Rs Rs % Rs m 2,518 1,785 430.9 6.9 164.2 16.50 0.8 549.9 465.20 ESOP 5.0 313.8 13.1 3.9 240.6 1,000,878 56 29,771 3,595.1 534.0 716.1 PNB 31/3/2011 1,268 933 869.6 63.7 267.3 22.00 2.0 713.8 316.81 PI 1.3 17.3 4.1 1.5 34.5 348,649 57 44,939 4,831.8 788.1 802.3 HDFC BANK/ PNB 198.6% 191.3% 49.5% 10.8% 61.4% 75.0% 38.4% 77.0% 146.8% 394.6% 1,816.7% 318.3% 253.8% 696.9% 287.1% 97.8% 66.2% 74.4% 67.8% 89.3%

INCOME DATA
Net Sales Other income Rs m Rs m 200,433 45,850 275,512 36,554 72.7% 125.4%

Total revenues Gross profit Depreciation Interest Profit before tax Minority Interest Prior Period Items Extraordinary Inc (Exp) Tax Profit after tax Gross profit margin Effective tax rate Net profit margin

Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m % % %

246,283 181,230 73,179 94,252 59,649 -322 0 0 19,401 39,926 90.4 32.5 19.9

312,066 250,763 64,497 155,067 67,753 -219 0 0 21,786 45,748 91.0 32.2 16.6

78.9% 72.3% 113.5% 60.8% 88.0% 147.0% 89.1% 87.3% 99.3% 101.2% 120.0%

BALANCE SHEET DATA

Current assets Current liabilities Net working cap to sales Current ratio Inventory Turnover Debtors Turnover Net fixed assets Share capital "Free" reserves Net worth Long term debt Total assets Interest coverage Debt to equity ratio Sales to assets ratio Return on assets Return on equity Return on capital Exports to sales Imports to sales Net fx Rs m Rs m % x Days Days Rs m Rs m Rs m Rs m Rs m Rs m x x x % % % % % Rs m 1,608,314 0 802.4 43.0 0 0 22,009 4,652 196,944 255,831 146,504 2,779,629 1.6 0.6 0.1 4.8 15.6 38.2 0.0 0.0 0 2,477,466 0 899.2 43.0 0 0 31,505 3,168 131,460 226,147 346,385 3,862,838 1.4 1.5 0.1 5.2 20.2 38.9 0.0 0.0 0 64.9% 89.2% 100.0% 69.9% 146.8% 149.8% 113.1% 42.3% 72.0% 113.6% 37.4% 101.1% 92.9% 77.1% 98.2% -