Press Release
April 12, 2013
Financial Results for the Period April 1, 2012 to March 31, 2013

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, 2013 at their meeting held in Delhi on April 12, 2013.


Profit after tax for the year amounted 145.88 crores as compared to 120.34 crores for the previous year, an increase of 21%.

The Board of Directors recommend payment of dividend for the year ended March 31, 2013 of 2.50 per equity share as against 2.30 /- per share in the previous year ( 11.50 per share prior to split). Dividend payout ratio for the year inclusive of tax on dividend will be 36%.

Dividend and the distribution tax on dividend on equity shares have absorbed 44.62 crores and 7.58 crores respectively and the balance has been transferred to reserves.

Year on year financial performance is as follows:

( in crore)

Particulars 2012-13 2011-12 Growth (%)
Net Interest Margin 217.75 179.19 22
Operating Profit 193.80 157.38 23
Profit Before Tax 196.81 162.76 21
Profit After Tax 145.88 120.34 21
Disbursements 2174.39 1486.52 46
Loan Assets 5437.80 4066.80 34

Housing Loan Portfolio

The loan portfolio as at March 31, 2013 amounted to 5437.80 crores as against 4066.80 crores in the previous year – an increase of 34%.


Loan Disbursements

Loan disbursements during the year were 2174.39 crores as against 1486.52 crores in the previous year, representing a growth of 46%. Cumulative loan disbursements as of March 31, 2013 were 9516.58 crores.

Non-Performing Loans

The gross NPA as at March 31, 2013 stands at 17.64 crores. Gross NPA constitute 0.32% of the total loan outstanding of 5437.80 crores as against gross NPA for the previous year at 21.11 crores or 0.52% of the outstanding loans.

Against Gross NPA of 17.64 crores, GRUH carries a total provision of 39.46 crores by way of Provision for Contingencies. This is including 24.52 crores for Standard Assets.


Following the accretion to reserves of 93.42 crore from the current year’s profits, the Networth of the Company has grown to 490.99 crore, up from 385.56 crore in the previous year.

Capital Adequacy Ratio (CAR) for the company stands at 14.55% as at March 31, 2013 as against the required minimum CAR of 12% as stipulated by NHB. The Tier I Capital stands at 12.93% while Tier II capital is 1.63%.


GRUHs deposits portfolio has grown to 649.95 crores from 455.46 crores during the year indicating a growth of 43%. During the year, CRISIL upgraded the rating on GRUH’s Fixed Deposit programme to FAAA from FAA+.

GRUH’s Fixed Deposit programme is now rated “FAAA” by CRISIL and “MAA+” by ICRA. The rating of “FAAA” indicates the degree of safety of repayment of principal and interest is Very Strong whereas the rating of “MAA+” indicates ‘High Safety” as regards repayment of interest and principal.

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

GRUH’s Subordinated Debt NCD’s (Tier II) is rated AA+ by CRISIL and ICRA


GRUH expanded its retail office network to 134 offices across 7 states of the country from 120 offices in the last year. GRUH has 40 offices in Gujarat, 41 offices in Maharashtra, 14 offices in Karnataka, 18 offices in Madhya Pradesh, 9 offices in Rajasthan, 7 offices in Chhatisgarh and 5 offices in Tamil Nadu.

April 12, 2013