October 14, 2017
Financial Results For The Half Year Ended September 30, 2017
Nr. Mithakhali Six Roads,
Ahmedabad – 380 006
Phone : +91 – 079 – 26421671 – 75
Fax : +91 – 079 – 2656 9215
GRUH FINANCE LTD.
FINANCIAL RESULTS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2017
The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the half year ended September 30, 2017 at their meeting held in Mumbai on October 14, 2017.
Profit after tax for the period amounted to 150.01 crores as compared to 122.16 crores for the previous year – an increase of 23%.
The loan portfolio as at September 30, 2017 amounted to 14,304 crores as against 12,089 crores in the previous year – an increase of 18%.
Loan disbursements during the period were 2,483 crores as against 1,945 crores in the previous year indicating a growth of 28%.
Cumulative loan disbursements as of September 30, 2017 were 25,680 crores.
The gross NPA as at September 30, 2017 stands at 95.55 crores or 0.67% (total loan outstanding portfolio of 14,304 crores).
GRUH carries a provision of 23.96 crores in its Balance Sheet as at September 30, 2017 on its NPA portfolio. GRUH also carries a provision of 65.56 crores on its standard assets. Additionally, GRUH carries an additional provision for contingencies of 61.60 crores.
As a result, the Net NPA as at September 30, 2017 stands at 10.00 crores indicating Net NPA to loans of 0.07%.
GRUH’s deposit portfolio has decreased to 1,425 crores, from 1,456 crores as at September 30, 2016. GRUH’s Fixed Deposit programme is rated “AAA” by CRISIL and ICRA. The rating of “AAA” indicates that the degree of safety of repayment and principal is Very Strong.
GRUH’s Short Term borrowings including Commercial Paper (CP) and short term NCD’s is rated “A1(+)” by CRISIL and ICRA and GRUH’s Long Term Debt and Sub Ordinate Debt programmes are rated AAA by both rating agencies viz. CRISIL and ICRA.
GRUH has a network of 187 retail offices across 11 states of the country. GRUH has 48 offices in Gujarat, 50 offices in Maharashtra, 17 offices in Karnataka, 29 offices in Madhya Pradesh, 13 offices in Rajasthan, 12 offices in Chhattisgarh, 10 offices in Tamil Nadu, 4 offices in Uttar Pradesh, 2 offices in W Bengal and one each in Jharkhand and Bihar.
October 14, 2017