The country’s largest home loan company, Housing Development Finance Corporation (HDFC), has announced its fourth quarter financial results for the fiscal year 2009-10 and has posted a 26% rise in net profit.

The Bank has produced a net profit of Rs 926.38 crore for the quarter that ended on 31st March, 2010. This net profit figure was at Rs 733.37 crore for the same quarter in the preceding year.

The annual net profit of the company has been Rs 2,826.49 crore against Rs 2,282.54 crore in the previous year. It has managed to improve its profit figure by an impressive 24% in this year as compared to the last fiscal year.

The board of directors of the company has decided to propose a stock split with the face value of an equity share of Rs 10 this year. The share price will come down to Rs 2 after the split of the stock.

Last year they had recommended a dividend of Rs 36 per equity share as against Rs 30 to its investors.