Analysts/Institutional Investor Meet/Con. Call Updates

CIN: L65920MH1994PLC080618 HDFC Bank Limited, Email: shareholder.grievances@hdfc.bank.in HDFC House, Website: www.hdfc.bank.in H T Parekh Marg, 165-166 Backbay Reclamation, Churchgate, Mumbai- 400 020 Tel. No.:022-66316000 Ref. No. SE/2026-27/77 July 24, 2026 BSE Limited National Stock Exchange of India Limited Dept of Corporate Services The Listing Department Phiroze Jeejeebhoy Towers, Exchange Plaza Dalal Street, Fort, Bandra Kurla Complex, Mumbai 400 001 Mumbai 400 051 Scrip code: 500180 Scrip code: HDFCBANK Dear Sir/Madam, Sub: Transcript of Earnings Call in relation to the unaudited standalone and consolidated financial results of the HDFC Bank Limited (“the Bank”) for the quarter ended June 30, 2026 We wish to inform you that pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transcript of the Earnings Call with analysts and investors held on Saturday, July 18, 2026 with respect to the unaudited standalone and consolidated financial results of the Bank for the quarter ended June 30, 2026, has been made available on the website of the Bank at the below link: https://www.hdfc.bank.in/about-us/investor-relations A copy of the transcript is also annexed herewith. This is for your information and appropriate dissemination. Thank you. Yours faithfully, For HDFC Bank Limited Ajay Agarwal Company Secretary Group Head – Secretarial & Group Oversight Encl: a/a Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013 “HDFC Bank Limited Q1 FY27 Earnings Conference Call” July 18, 2026 MANAGEMENT: MR. SASHIDHAR JAGDISHAN – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – HDFC BANK LIMITED MR. KAIZAD BHARUCHA – DEPUTY MANAGING DIRECTOR – HDFC BANK LIMITED MR. SRINIVASAN VAIDYANATHAN – CHIEF FINANCIAL OFFICER – HDFC BANK LIMITED HDFC Bank Limited July 18, 2026 Moderator: Ladies and gentlemen, good day and welcome to HDFC Bank Limited Q1 FY27 Earnings Conference Call on the financial results presented by the management of HDFC Bank. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Srinivasan Vaidyanathan, Chief Financial Officer, HDFC Bank. Thank you and over to Mr. Vaidyanathan. Srinivasan Vaidyanathan: Thank you, Neerav. Good evening and a warm welcome to all the participants. We have today with us our CEO, Sashi Jagdishan, and our Deputy MD, Kaizad Bharucha. I'll hand off the call to Sashi and then we can take it forward from there. Sashidhar Jagdishan: Thank you, Srini, and thank you all for joining in on this investor call for the Q1 results for FY27. As you know, we navigated during this period certain challenges over the last four months. Our people have kept steadfast focus on customer needs and further built the franchise. It's been a very tough period, but I really am proud of them and thank you to each one of them who really stood behind in continuing the strength and resilience of the institution. I also sincerely thank the board for their guidance and more so Keki Mistry for chairing as the Interim Chairman during this period. I also heartily welcome our new Chairman, Rajiv Kumar. We look forward to taking the franchise to the next growth stage. With the appointment of Mr. Rajiv Kumar, there is a sense of stability and a clear signal to minimize uncertainties in a very short time period. Coming to some of the accomplishments in Q1, the deposit growth continues to be relatively better than the historical Q1 trends. We continue to gain market share both on an incremental basis and on a stock basis as well. Our productivity at the branch continues to move up and we realize benefits of the investments that we've done over the last five, six years. Advances, as we had envisioned a while ago, I think we are on the verge of pressing the pedal. As you have seen, the advances have done very well over the last three, four quarters and that trajectory continues. We are focusing on certain customer segments to manage more longer-term opportunities. Our focus now, as I may have mentioned in the past and also in our annual report, we are trying to take customer service to a different level, especially in focusing on the turnaround time of product and service offerings. We're now measuring it at a more granular level across the length and breadth of the country. We are reimagining our digital journeys analytics so that we are able to have a new levels of adoption. That should sort of bring in fair amount of efficiencies in the quarters to come. As regards environment, we see our policy responses have been very timely and effective. There is a very healthy credit demand that we are seeing in the system as we speak. We believe that the FCNR policy window that has been offered to the banking system is a great opportunity and we are focusing on that. We've spent a large part of the month of June in completing the documentation Page 2 of 16 HDFC Bank Limited July 18, 2026 and approvals necessary from our side and also from the counterparty banks across various jurisdictions. The ECLGS scheme 5.0 is also a very good opportunity and you will see a fair amount of growth that we will pick up in the mid-market segment. Competition has been very intense, both on the corporate side where the spreads continue to be very thin and we have been rather selective, but we are also looking at a holistic primary relationship engagement. The deposits rates on the granular side has been reasonably stable, but on the non-granular side, I think rates have continued to remain elevated. This quarter, you may see some amount of mix change in terms of more non-retail shorter-term asset mix, the cost of funds moderation, these are all elements which I believe are just tactically being managed. Fundamentally, the franchise continues to be extremely strong and we will be stepping up the multiple product offerings and one customer view and you will see the changes happening in the quarters to come. Productivity is a very key focus and you would see the outcomes of the efficiencies from our focus on digital adoption, the process re-engineering, the kind of customer focus by the senior supervisory architecture which will ensure that we are able to turn around the delivery times much shorter than what we have ever enjoyed and what the best-in-class market is offering today. We have provided a fair amount of tools for deeper customer engagement as I did allude in terms of technology. We are on the cusp of harnessing some of the GenAI technologies on our processes and we do have a fair amount of lighthouse programs that will go into production during the course of the year. Obviously, all of us realize that security is going to be an extremely important part of our strategy and we are focusing on seeing how we can leverage on AI to augment our defence mechanisms as well. Of course, there are risks in the horizon in terms of the weather-related disruptions like El Nino and also the geopolitical situation in West Asia. But I think the country has weathered these reasonably well. I think we continue to remain very sanguine. We are prepared for as the country and hence as a company in terms of weathering any such challenges in the near future. I once again thank everyone for a wonderful performance despite a lot of challenges that have happened over these several months. I think good times are here to come and we stay committed towards customer and other stakeholders in terms of what HDFC Bank has always been to all these stakeholders over these last 30 years. Thank you so much and over to Srini. Srinivasan Vaidyanathan: Thank you, Sashi. Neerav, with that, let' [Showing first 8,000 characters — download PDF for full document]