12 High Growth Non-Tech Stocks That Are Profitable in 2025

7. HDFC Bank Limited (NYSE:HDB)

5-Year Sales Growth: 31.09%

5-Year Net Income Growth: 21.50%

TTM Net Income: $8.12 Billion (INR 695.8 Billion)

Number of Hedge Fund Holders: 50

HDFC Bank Limited (NYSE:HDB) is one of India’s leading private sector banks, offering a comprehensive suite of banking and financial services. Its operations are divided into key segments such as Retail Banking, Wholesale Banking, Treasury Operations, and other Financial Services.

During the fiscal third quarter of 2024, HDFC Bank Limited (NYSE:HDB) reported ₹652.8 billion in consolidated net revenue and ₹176.6 billion in profit after tax. The profit after tax grew by 13.1% year-over-year, whereas the net income rose 7.7% to ₹306.5 billion. Management noted that the bank is navigating a challenging macroeconomic environment in India, marked by tight liquidity, moderating urban demand, and volatility in the Indian rupee. Despite the challenges, HDFC Bank Limited (NYSE:HDB) achieved robust growth in average deposits, with a 16% increase year-over-year. Moreover, it also added over 1,000 branches, enhancing its reach and accessibility for customers. The bank is well-positioned with sufficient liquidity and capital, enabling it to capitalize on opportunities when macroeconomic conditions improve. It is one of the high-growth non-tech stocks that are profitable.

Brown Advisors Global Leaders Strategy stated the following regarding HDFC Bank Limited (NYSE:HDB) in its Q4 2024 investor letter:

“HDFC Bank Limited (NYSE:HDB) has shown robust fundamental business drivers, but the shares have relatively underperformed since its merger with former parent HDFC Ltd. This merger enhances HDFC Bank’s long-run business opportunities, particularly mortgages, in the Indian market but comes with short-term sub-optimal funding which we expect to unwind over the next couple of years. With an enhanced competitive position, we feel it unlikely this remains an issue over time. HDFC Bank has also shown good downside protection historically when the credit cycle turns, and the bank’s defensive lending practices allow it to outperform peers. Impressively, management has expanded lending at the right time historically too. We believe these characteristics remain intact.”