HDFC Bank vs Kotak Mahindra Bank: share price, P/E, ROE and financials compared
HDFC Bank
Kotak Mahindra Bank
HDFC Bank and Kotak Mahindra Bank at a glance
HDFC Bank and Kotak Mahindra Bank are both listed in Financial Services. HDFC Bank is the larger by market cap, at ₹12.2L Cr against ₹4.8L Cr for Kotak Mahindra Bank (2.5 times as large). On valuation, HDFC Bank has the lower P/E (17.2× against 22.2×) and the lower price-to-book (2.00× against 2.45×). On returns and margins, Kotak Mahindra Bank has the higher ROE (11.8% against 11.0%). Over three years, HDFC Bank has faster 3-year profit growth (+12.5% against +8.9% a year). Both are lenders or insurers, so ROCE, operating margin and debt-to-equity aren’t compared: those ratios don’t fit financial balance sheets.
Key metrics, side by side
| Metric | HDFC BankHDFCBANK | Kotak Mahindra BankKOTAKBANK |
|---|---|---|
| Price (₹) | 788.25 | 480.00 |
| Market cap (₹ Cr) | 12,16,451 | 4,77,498 |
| P/E | 17.2× (the lower figure, shaded) | 22.2× |
| P/B | 2.00× (the lower figure, shaded) | 2.45× |
| Dividend yield, trailing | 1.65% (the higher figure, shaded) | 0.14% |
| ROE | 11.0% | 11.8% (the higher figure, shaded) |
| ROCE | n/m | n/m |
| Operating margin (OPM) | n/m | n/m |
| Net margin (NPM) | 26.5% | 28.7% (the higher figure, shaded) |
| Sales CAGR 3Y | n/m | n/m |
| Profit CAGR 3Y | +12.5% (the higher figure, shaded) | +8.9% |
| Debt to equity | n/m | n/m |
| Interest cover | n/m | n/m |
| Net profit TTM (₹ Cr) | – | 21,473 |
| 1Y return | −22.9% | +11.4% (the higher figure, shaded) |
| Promoter holding | 0.00% | 25.87% |
HDFC Bank vs Kotak Mahindra Bank: common questions
Which is bigger, HDFC Bank or Kotak Mahindra Bank?
By market cap, HDFC Bank is bigger at ₹12.2L Cr, against ₹4.8L Cr for Kotak Mahindra Bank (prices as of 6 Nov 2026).
Which has a lower P/E ratio, HDFC Bank or Kotak Mahindra Bank?
HDFC Bank trades at a P/E of 17.2× and Kotak Mahindra Bank at 22.2×. HDFC Bank has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, HDFC Bank or Kotak Mahindra Bank?
HDFC Bank reports a return on equity of 11.0% and Kotak Mahindra Bank 11.8%. Kotak Mahindra Bank has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, HDFC Bank or Kotak Mahindra Bank?
Over the last three years: profit grew +12.5% a year at HDFC Bank and +8.9% at Kotak Mahindra Bank, so HDFC Bank grew profit faster. Past growth doesn’t predict future growth.