Press Release
April 19, 2016
Financial Results for the Period April 1, 2015 to March 31, 2016

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, 2016 at their meeting held in Mumbai on April 19, 2016.


Profit after tax for the year amounted to 243.58 crores as compared to 203.80 crores for the previous year indicating a growth of 20%.

The profit for the year has been arrived at after charging 24.17 crores (Previous Year 19.33 crores) towards Deferred Tax Liability (DTL) on Special Reserve created during the year and 2.26 crore on Corporate Social Responsibility (CSR) Activities.


The Board of Directors recommend payment of dividend for the year ended March 31, 2016 of 2.30 per equity share as against 2.00 per equity share in the previous year. Dividend payout ratio for the year inclusive of tax on dividend will be 41.34%.

Dividend and the distribution tax on dividend on equity shares have absorbed 83.65 crores and 17.03 crores respectively and the balance has been transferred to reserves.

Year on year financial performance is as follows:

( in crore)

Particulars 2015-16 2014-15 Growth (%)
Loan Assets 11114.56 8926.48 25
Net Interest Margin 421.17 343.66 23
Operating Profit 380.50 312.75 22
Profit Before Tax 361.70 300.84 20
Profit After Tax 243.58 203.80 20
Return on Networth 31.49% 30.91%

Loan Portfolio

The loan portfolio as at March 31, 2016 amounted to 11114.56 crores as against 8926.48 crores in the previous year – an increase of 25%.


Loan Disbursements

Loan disbursements during the year were 3856.58 crores as against 3120.87 crores in the previous year, representing a growth of 24%. Cumulative loan disbursements as of March 31, 2016 were 19071.70 crores.

Non-Performing Loans

The gross NPA as at March 31, 2016 stands at 35.55 crores. Gross NPA constitute 0.32% of the total loan outstanding of 11114.56 crores as against gross NPA for the previous year at 25.05 crores or 0.28% of the outstanding loans.

GRUH is required to carry a provision of 8.54 crores in the Balance Sheet as at March 31, 2016 on its NPA portfolio as per the guideline of NHB. GRUH also carries provision on its standard asset portfolio and additional provision for contingencies aggregating 68.07 crore. The Net NPA stands at 10.38 crore indicating a ratio of Net NPA to Loans of 0.09% at the end of March 31, 2016.


Following the accretion to reserves of 142.87 crore from the current year’s profits, the Networth of the Company has grown to 835.30 crore, up from 711.49 crore in the previous year.

Capital Adequacy Ratio (CAR) for the company stands at 17.82% as at March 31, 2016 as against the required minimum CAR of 12% as stipulated by NHB. The Tier I Capital stands at 16.13% while Tier II Capital is 1.69%.


GRUH’s deposits portfolio has grown to 1462.30 crores from 1292.10 crores during the year indicating a growth of 13%.

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 is rated at “A1(+)” by ICRA

During the year, GRUH’s credit rating for Long term Non Convertible Debenture (NCD) and Subordinated Debt NCD (Tier II) was upgraded by ICRA to AAA.


GRUH expanded its retail office network to 179 offices across 10 states of the country from 154 offices in the last year. GRUH has 46 offices in Gujarat, 49 offices in Maharashtra, 17 offices in Karnataka, 27 offices in Madhya Pradesh, 12 offices in Rajasthan, 13 offices in Chhatisgarh, 10 offices in Tamil Nadu, 3 office in Uttar Pradesh and one each in Bihar and Jharkhand.


During the year, the Managing Director of the Company Mr. Sudhin Choksey was awarded the prestigious ICAI Award 2015 under the Business Leader – Financial Sector category which was presented at a function in New Delhi on January 16, 2016.

GRUH also won the Gujarat Ratna Award for Excellence in the Financial Sector. The awards which were instituted by CNBC Bazaar were presented at a function held in Ahmedabad on March 12, 2016.

April 19, 2016