Press Release
April 14, 2018
Financial Results For The Period April 1, 2017 To March 31, 2018

Corporate office
Netaji Marg,
Nr. Mithakhali Six Roads,
Ahmedabad – 380 006
Gujarat, India.
Phone : +91 – 079 – 26421671 – 75
Fax : +91 – 079 – 2656 9215


The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the annual audited accounts for the year ended March 31, 2018 at their meeting held in Mumbai on April 14, 2018.


Profit after tax for the year amounted to 363 crores as compared to 297 crores for the previous year indicating a growth of 22%.

The profit for the year has been arrived at after charging 37 crores (Previous Year 29 crores) towards of Deferred Tax Liability (DTL) on Special Reserve created during the year and 4.37 crores (Previous Year 3.36 crores) on Corporate Social Responsibility (CSR) Activities.


The Board of Directors recommended payment of dividend for the year ended March 31, 2018 of 3.30 per equity share as against 2.80 per equity share in the previous year. Dividend payout ratio for the year inclusive of tax on dividend will be 40%.

Year on year financial performance is as follows:

( in crore)

Particulars 2017-18 2016-17 Growth (%)
Net Interest Margin 651 526 24
Operating Profit 605 477 27
Profit After Tax 363 297 22
Loan Assets 15,568 13,244 18
Return on Networth 29.08% 30.45%
Gross NPA (%) 0.45% 0.31%
Cost to Income Ratio 14.16% 15.87%

Loan Portfolio

The loan portfolio as at March 31, 2018 amounted to 15,568 crores as against 13,244 crores in the previous year – an increase of 18%.


Loan Disbursements

Loan disbursements during the year were Rs. 5,259 crores as against 4,125 crores in the previous year indicating a growth of 27%.

Retail Home Loans at 4,016 crores during the year constituted 76% of total disbursement of 5,259 crores and has grown by 29% over the previous year.

Cumulative loan disbursements as of March 31, 2018 were 28,456 crores.

Non-Performing Loans

The gross NPA as at March 31, 2018 stands at Rs 70.09 crores. Gross NPA constitute 0.45% of the total loan outstanding of 15,568.39 crores as against gross NPA for the previous year at 40.58 crores or 0.31% of the outstanding loans.

GRUH carries a provision of 53.47 crores in the Balance Sheet as at March 31, 2018 on its NPA portfolio. Further, GRUH carries provision of 66.10 crores on its standard asset portfolio.

GRUH also carries additional provision for contingencies aggregating 16.63 crores.

The Net NPA stands at NIL indicating a ratio of Net NPA to Loans of NIL at the end of March 31, 2018.


Following the accretion to networth of 268 crore, the Networth of the Company has grown to 1,381 crores, up from 1,113 crore in the previous year.

Capital Adequacy Ratio (CAR) for the company stands at 18.90% as at March 31, 2018 as against the required minimum CAR of 12% as stipulated by NHB. The Tier I Capital stands at 17.68% while Tier II capital is 1.22%.

Issue of Bonus Shares

The Board of Directors have recommended the issue of Bonus Shares in the ratio of one equity share of 2 each for every one equity share of 2 each (1:1). This is subject to the approval of the members of the Company at the ensuing Annual General Meeting (AGM).

Such bonus shares, if approved by the members of the company shall rank pari-passu with the existing equity shares, except for the entitlement of dividend for the financial year ended March 31, 2018.


GRUHs outstanding deposits portfolio are 1,458 crores, down from 1,505 crores during the year indicating a negative growth of 3%.

GRUH’s Fixed Deposit programme is rated “FAAA” by CRISIL and “MAAA” by ICRA. The rating of “FAAA” and “MAAA” indicates the degree of safety of repayment of principal and interest is Very Strong.

GRUH’s Short Term borrowings including Commercial Paper (CP) and short term NCD’s is rated at “A1(+)” by ICRA and CRISIL

GRUH’s Long term Non Convertible Debenture (NCD) and Subordinated Debt NCD’s (Tier II) is rated AAA by ICRA and CRISIL.


GRUH expanded its retail office network to 194 offices across 11 states of the country from 185 offices in the last year. GRUH has 48 offices in Gujarat, 51 offices in Maharashtra, 17 offices in Karnataka, 32 offices in Madhya Pradesh, 13 offices in Rajasthan, 12 offices in Chhattisgarh, 12 offices in Tamil Nadu, 5 office in Uttar Pradesh, 2 offices in West Bengal and one each in Bihar and Jharkhand.


During the quarter, GRUH received the award as Winner in Affordable Housing Finance Category at the Outlook Money Awards 2017. The awards were announced by Outlook group of publication.

April 14, 2018