HDFC Bank Share Price Target 2026: HDFC Bank shares will be in focus as brokerages largely retained their bullish outlook on the lender following its Q4FY26 earnings, supported by improving asset quality, lower credit costs and a steady recovery in loan growth. Nirmal Bang raised its target price to Rs 1,069, implying a 33.6 per cent upside, while major global and domestic brokerages such as Morgan Stanley, Bernstein, Motilal Oswal and Nuvama reiterated Buy or Outperform ratings, citing resilient margins, benign slippages and strengthening deposit trends. The bank reported a 9.1% year‑on‑year rise in standalone profit, improved GNPA to 1.15% and declining provisions, reinforcing confidence in its medium‑term earnings trajectory despite near‑term margin pressures.
Motilal Oswal On HDFC Bank
Elara Capital on HDFC Bank
HDFC Bank reported a 9.1 per cent year-on-year growth in its standalone profit after tax (PAT ) at Rs 19,221 crore for the March quarter against Rs 17,616 crore posted in the same quarter the previous financial year. The bank’s interest income was down 1.1 per cent YoY to Rs 76,610 crore in Q4 FY26 compared to Rs 77,460 crore reported in the year-ago period.
HDFC Bank reported an 8.04 per cent rise in its consolidated net profit to Rs 20,350.76 crore for the March quarter. It had reported a consolidated net profit of Rs 18,834.88 crore in the year-ago period. For the reporting quarter, its consolidated total income rose to Rs 89,809 crore in the January-March 2026 period from Rs 89,488 crore in the year-ago period, while the total expenditure declined to Rs 62,006 crore from Rs 62,951 crore.
The gross non-performing assets ratio improved to 1.15 per cent from 1.24 per cent at the end of the preceding December quarter and 1.33 per cent in the year-ago period. The overall provisions declined to Rs 2,610 crore from Rs 3,193 crore in the March 2025 quarter.
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