HDFC Corporate Update

Valuation and Shareholding VALUATION - METHOD 2 • Number of shares outstanding: 1.81 billion Share Price (CMP as at September 30, 2021): Rs. 2,755 Market Capitalisation: Rs. 4,981.6 billion (~US$ 67 bn) Valuation Rs bn US$ bn Market Capitalisation 4,982 67.1 Less: Unaccounted gains on strategic 2,759 37.2 listed investments Less: Unaccounted gains on unlisted 203 2.7 investments Adjusted Market Capitalisation 2,019 27.2 Net Worth (adjusted for dividend) 1,118 15.1 Adjusted Price to Book Ratio 1.8 1.8 HDFC

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