Investor Presentaiton

100% Mortgage Market in India HDFC LOW PENETRATION IMPLIES ROOM FOR GROWTH MORTGAGES AS A PERCENT OF NOMINAL GDP 80% 60% 40% 20% 0% 11% India China 89% 83% 68% 56% 52% 45% 44% 39% 34% 20% 18% Thailand Malaysia Japan Singapore Germany USA Australia UK Denmark Netherlands Source: European Mortgage Federation, Hofinet & HDFC estimates for India. Note: India's lower GDP resulted in an increase in the mortgage to GDP ratio. 10

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