Mumbai, Apr 30: Private sector lender Housing Development Finance Corporation on Wednesday said it has posted a profit after tax of Rs 2,712.19 crore for the year ended March 31, excluding Rs 293 crore it earned through derivative exposure.

The company's pat for the year is 54.74 per cent higher than the last fiscal when it earned Rs 1,741.98 crore.

HDFC income from operations for the year stood at Rs 8,036.42 crore against Rs 5,458.98 crore a year ago.

The board has recommended a dividend of Rs 25 per share.

Loan approvals went up 28 per cent in the reporting year, HDFC Vice Chairman Keki Mistry told reporters. During the year, approvals aggregated to Rs 42,520 crore compared to Rs 33,332 crore a year ago.

HDFC disbursed Rs 32,875 crore during the year against Rs 26,178 crore a year ago, a jump of 26 per cent.

The company has earned a profit of Rs 293 crore in the year through its exposure in derivatives, but "we have not shown the profit through derivatives in the accounts as a matter of prudence," he said.

In the next calendar year, the company would look at listing its subsidiary life insurance company to unlock value, Mistry added. On a question on interest rates after the Reserve Bank has raised the statutory deposits bank should keep in cash as reserve by 0.25 per cent to 8.25 per cent, he said "at this time, there is no change in our interest rate".

Property prices are expected to be flat and they are not going to rise, he said.

"We have not seen any significant correction in real estate. We have seen a correction of 5 per cent, 10 per cent only in a few pockets. We don't see prices going up," he said.