Press Release
July 15, 2017
Financial Results For The Quarter Ended June 30, 2017

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

GRUH FINANCE LTD.
FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2017

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended June 30, 2017 at their meeting held in Mumbai on July 15, 2017.

FINANCIAL RESULTS

Profit after tax for the year amounted to ₹ 72 crores as compared to ₹ 60 crores for the previous year – an increase of 20%.

Highlights of Operational Performance

( in crore)

Detail June 30, 2017 June 30, 2016 Growth (%)
Net Interest Margin 151 114  33
Non Interest Expenses 25 20  27
Operating Profit 136 103 33
Profit After Tax  72 60 20
Disbursements 1,200 940 28
Loan Assets 13,695 11,544 19

Loan Portfolio

The loan portfolio as at June 30, 2017 amounted to ₹ 13,695 crores as against ₹ 11,544 crores in the previous year – an increase of  19%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the quarter were ₹ 1,200 crores as against ₹ 940 crores in the previous year indicating a growth of 28%.

The focus continues to remain on retail home loans, which constitutes ₹ 922 crores (77% of total disbursement) of the total disbursement during the quarter and has grown at 39 % over the corresponding figure of the previous year.

Cumulative loan disbursements as of June 30, 2017 were Rs. 24,397 crores.

Non-Performing Loans

The gross NPA as at June 30, 2017 stands at ₹ 87.25 crores or 0.64% (total loan outstanding portfolio of ₹ 13,695 crores.)

GRUH carries a provision of ₹ 23.96 crore in the Balance Sheet as at June 30, 2017 on its NPA portfolio. GRUH also carries a provision of ₹ 64.63 crores on its standard loan assets. Additionally, as a matter of prudence, GRUH carries an additional provision for contingencies of ₹ 41.78 crore.

As a result, Net NPA as at June 30, 2017 stands at ₹ 21.51 crore indicating Net NPA to loans of 0.16%.

DEPOSITS

GRUH’s deposit portfolio has increased to ₹ 1,485 crores, up from ₹ 1,395 crores as at June 30, 2016. GRUH’s Fixed Deposit programme has been 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 Long Term Debt and Sub Ordinate Debt programmes are rated “AAA” by CRISIL & ICRA.

RETAIL NETWORK

GRUH has a network of 186 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, 12 offices in Rajasthan, 12 offices in Chhatisgarh, 10 offices in Tamil Nadu, 4 branches in Uttar Pradesh, one each in the states of Jharkhand and Bihar and 2 branches in W Bengal.

AWARDS AND RECOGNITION

During the quarter, GRUH received two awards from the Ministry of Housing and Urban Poverty Alleviation, Government of India, in respect of its performance under the CLSS scheme. The awards received were in respect of

a) Maximum number of loans to EWS under the CLSS scheme and

b) First Rank under the Best Performing Primary Lending Institution under the CLSS scheme.

July 15, 2017