Press Release
July 25, 2018
Financial Results For The Quarter Ended June 30, 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 accounts for the quarter ended June 30, 2018 at their meeting held in Mumbai on July 25, 2018.

Pursuant to direction issued by Ministry of Corporate Affairs and National Housing Bank, GRUH has adopted Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) notified under section 133 of the Companies Act, 2013 with effect from April 1, 2018. Accordingly, Financial Results for the quarter ended June 30, 2018 are prepared in compliance with Ind AS requirements. Comparative figures for the corresponding quarter ended June 30, 2017 have been restated to make it comparable with current quarter figures in accordance with Ind AS requirement.


Profit after tax for the quarter amounted to 115 crores as compared to 96 crores for the corresponding period in previous year – an increase of 20%.

Highlights of Operational Performance

( in crore)

Particulars June 30, 2018 June 30, 2017 Growth (%)
Net Interest Margin 175 155 13
Non-Interest Expenses 27 25 8
Profit Before Tax 156 130 20
Profit After Tax 115 96 20
Disbursements 1,226 1,200 2
Loan Assets 15,857 13,665 16

Loan Portfolio

The loan portfolio as at June 30, 2018 amounted to 15,857 crores as against 13,665 crores in the previous year – an increase of 16%.


Loan Disbursements.

Loan disbursements during the quarter were 1,226 crores as against 1,200 crores in the corresponding period in previous year indicating a growth of 2%.

Cumulative loan disbursements as of June 30, 2018 were 29,682 crores.

Provisions for Expected Credit Losses

As per requirement of Ind AS 109 on “Financial Instruments”, provision for credit losses are to be carried in Balance Sheet based on expected credit losses. Accordingly, as required by the said Ind AS, GRUH carries provision of 99.03 crores as on June 30, 2018 towards expected future credit losses on Loan Assets of 15,857 crores.


GRUH’s deposit portfolio has increased to 1,498 crores, up from 1,479 crores as at June 30, 2017. 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 ICRA.


GRUH has a network of 194 retail offices across 11 states of the country. 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 offices in Uttar Pradesh, one each in the states of Jharkhand and Bihar and 2 offices in West Bengal.

July 25, 2018