Press Release
January 15, 2013
Financial Results for the Nine Months Ended December 31, 2012

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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 NINE MONTHS ENDED DECEMBER 31, 2012

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended December 31, 2012 at their meeting held in Mumbai on January 15, 2013.

FINANCIAL RESULTS

Profit after tax for the year amounted to 82.82 crores as compared to 64.77 crores for the previous year, an increase of 28%.

Housing Loan Portfolio

The loan portfolio as at December 31, 2012 amounted to 5002.92 crores as against 3761.31 crores in the previous year – an increase of 33%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the half year were 1490.71 crores as against 1001.19 crores in the previous year indicating a growth of 49%.

Cumulative loan disbursements as of December 31, 2011 were 8833.10 crores.

Non-Performing Loans

The gross NPA as at December 31, 2012 stands at 26.74 crores or 0.53% (total loan outstanding portfolio of 5002.92 crores).

GRUH is required to carry a provision of 8.06 crore on its Gross NPA portfolio of 26.74 crore as on December 31, 2012 based on the revised guidelines and . 22.41 crores towards standard assets i.e. a total provision of 30.47 crore.

However, as a prudent measure, GRUH has made more than the required provision as a result of which, the Net NPA as at December 31, 2012 stands at NIL indicating Net NPA to loans of NIL.

DEPOSITS

GRUH’s deposit portfolio has increased to 632.35 crores, up from 357.25 crores last year. GRUH’s Fixed Deposit programme has been rated “FAA+” by CRISIL and “MAA+” by ICRA. The rating of “FAA+” and “MAA+” indicates ‘High Safety” as regards repayment of interest and principal. GRUH’s Commercial Paper (CP) is rated at “P1(+)” by CRISIL and Non Convertible Debenture (NCD) is rated at “AA+” by ICRA.

RETAIL NETWORK

GRUH has a network of 130 retail offices across 7 states of the country. GRUH has 40 offices in Gujarat, 40 offices in Maharashtra, 13 offices in Karnataka, 18 offices in Madhya Pradesh, 9 offices in Rajasthan, 5 offices in Chhatisgarh and 4 offices in Tamil Nadu.

Highlights of Operational Performance

( in crore)

Detail December 31, 2012 December 31, 2011 Growth (%)
Net Interest Margin 155.87 130.72 19.24
Non Interest Expenses 36.04 29.52 22.11
Operating Profit 136.01 114.56 18.72
Profit Before Tax 121.90 95.76 27.29
Profit After Tax 82.82 64.77 27.88
Disbursements 1490.71 1001.19 48.89

January 15, 2013