HDFC Bank Limited (HDB) Revenue History
Annual and quarterly revenue from 2001 to present
HDB Revenue Over Time (2001–2025)
HDB Revenue Growth History
24 of 24 years with positive growth- FY2001 revenue growth
- N/A
- FY2002 revenue growth
- +113.2%
- FY2003 revenue growth
- +21.7%
- FY2004 revenue growth
- +22.6%
- FY2005 revenue growth
- +27.9%
- FY2006 revenue growth
- +48.9%
- FY2007 revenue growth
- +53.9%
- FY2008 revenue growth
- +45.1%
- FY2009 revenue growth
- +54.7%
- FY2010 revenue growth
- +4.6%
- FY2011 revenue growth
- +23.6%
- FY2012 revenue growth
- +32.5%
- FY2013 revenue growth
- +26.9%
- FY2014 revenue growth
- +17.7%
- FY2015 revenue growth
- +17.8%
- FY2016 revenue growth
- +24.4%
- FY2017 revenue growth
- +15.7%
- FY2018 revenue growth
- +18.2%
- FY2019 revenue growth
- +21.6%
- FY2020 revenue growth
- +17.3%
- FY2021 revenue growth
- +8.4%
- FY2022 revenue growth
- +4.9%
- FY2023 revenue growth
- +23.5%
- FY2024 revenue growth
- +77.7%
- FY2025 revenue growth
- +19.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.28T | — |
| Q2 2026 | $1.21T | — |
| Q1 2026 | $1.33T | — |
| Q4 2025 | $688.51B | — |
| Q3 2025 | $1.12T | — |
| Q2 2025 | $904.55B | — |
| Q1 2025 | $1.17T | — |
| Q4 2024 | $684.82B | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2012)
HDB's revenue distribution by segment and geography for fiscal year 2012
By Product/Segment
By Geography
HDB Revenue Analysis (2001–2025)
Current Revenue & Growth
As of June 21, 2026, HDFC Bank Limited (HDB) generated trailing twelve-month (TTM) revenue of $4.50 trillion, reflecting strong growth of +14.1% year-over-year. The most recent quarter (Q3 2026) recorded $1.28 trillion in revenue, up 6.2% sequentially.
Historical Growth Trajectory
HDB's 5-year compound annual growth rate (CAGR) stands at +24.4%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +37.8% exceeds the 5-year average, indicating an acceleration in the most recent period. HDFC Bank Limited's highest annual revenue of $4.19 trillion was recorded in 2025, an all-time high.
Revenue by Segment
HDB's revenue is primarily driven by Retail Banking (58%), Wholesale Segment (41%), and Treasury Services Segment (1%). With over half of revenue concentrated in Retail Banking, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Financial Services sector peers — including IBN, HBM (+9.6% YoY), and ITUB — HDB has outperformed the peer group in revenue growth. Compare HDB vs IBN →
HDB Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| HDBCurrent | $4.50T | +14.1% | +24.4% | 20.5% | |
 IBN | $2.95T | - | - | 24.8% | |
 HBM | $2.2B | +9.6% | +15.0% | 25.5% | |
 ITUB | $384.6B | - | - | 13.1% | |
 BBD | $342.2B | - | - | -1.1% | |
 KB | $50.69T | - | - | 16.8% |
HDB Historical Revenue Data (2001–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $4.19T | - | $2.19T | 52.2% | $861.55B | 20.5% |
| 2024 | $3.52T | - | $1.85T | 52.7% | $705.46B | 20.0% |
| 2023 | $1.98T | - | $1.13T | 57.1% | $662.38B | 33.4% |
| 2022 | $1.60T | - | $892.43B | 55.6% | $519.16B | 32.4% |
| 2021 | $1.53T | - | $782.43B | 51.2% | $439.83B | 28.8% |
| 2020 | $1.41T | - | $674.12B | 47.8% | $365.84B | 25.9% |
| 2019 | $1.20T | - | $595.35B | 49.5% | $339.96B | 28.3% |
| 2018 | $988.07B | - | $508.36B | 51.4% | $277.11B | 28.0% |
| 2017 | $835.88B | - | $424.17B | 50.7% | $219.97B | 26.3% |
| 2016 | $722.26B | - | $367.66B | 50.9% | $185.59B | 25.7% |
| 2015 | $580.61B | - | $299.00B | 51.5% | $154.02B | 26.5% |
| 2014 | $493.05B | - | $245.98B | 49.9% | $121.75B | 24.7% |
| 2013 | $419.06B | - | $209.57B | 50.0% | $91.97B | 21.9% |
| 2012 | $330.14B | - | $171.15B | 51.8% | $73.84B | 22.4% |
| 2011 | $249.07B | - | $145.60B | 58.5% | $63.23B | 25.4% |
Full Stock Analysis
Deep dive into HDB consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
25+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
HDB — Frequently Asked Questions
Quick answers to the most common questions about buying HDB stock.
Is HDB's revenue growth accelerating or slowing?
HDB revenue growth is holding steady at +14.1% year-over-year. TTM revenue is $4.5T. The current growth rate closely tracks the 5-year CAGR of +24.4%, signalling consistent execution.
What is HDB's revenue history from 2001 to 2026?
HDFC Bank Limited (HDB) revenue history spans 2001 to 2026. TTM revenue as of 2026 is $4.5T, growing at +14.1% YoY. The 5-year CAGR is +24.4%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is HDB's long-term revenue growth rate (CAGR)?
HDFC Bank Limited's 5-year revenue CAGR of +24.4% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +14.1% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for HDB.
Why does HDB's quarterly revenue fluctuate?
HDB quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. HDFC Bank Limited's revenue data from 2001 to 2026 shows full historical quarterly detail on this page.
How is HDB's revenue distributed by segment?
HDB reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does HDB's revenue compare to industry peers?
HDFC Bank Limited (HDB) with TTM revenue of $4.5T and +14.1% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.