Press Release
January 19, 2015
Financial Results for the Quarter Ended December 31, 2014

logo-theme-upside
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 DECEMBER 31, 2014

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended December 31, 2014 at their meeting held in Mumbai on January 19, 2015.

FINANCIAL RESULTS

Profit after tax for the year amounted to . 129.74 crores as compared to . 103.36 crores for the previous year, an increase of 26%.

Housing Loan Portfolio

The loan portfolio as at December 31, 2014 amounted to . 8382.43 crores as against . 6544.60 crores in the previous year – an increase of 28%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the year were . 2248.40 crores as against . 1824.74 crores in the previous year indicating a growth of 23%.

Cumulative loan disbursements as of December 31, 2014 were 14342.65 crores .

Non-Performing Loans

The gross NPA as at December 31, 2014 stands at 48.17 crores or 0.57% (total loan outstanding portfolio of . 8382.43 crores).

GRUH is required to carry a provision of . 12.95 crore on its Gross NPA portfolio of . 48.17 crore as on December 31, 2014 and . 36.63 crores towards standard assets i.e. a total provision of . 49.58 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, 2014 stands at . 5.50 crore indicating Net NPA to loans of 0.07%.

DEPOSITS

GRUH’s deposit portfolio has increased to . 1281.12 crores, up from . 926.94 crores last year. GRUH’s Fixed Deposit programme has been rated “FAAA” by CRISIL and “MAAA” by ICRA. The rating of “FAAA” and “MAAA” indicates ‘Highest 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 153 retail offices across 8 states of the country. GRUH has 44 offices in Gujarat, 43 offices in Maharashtra, 17 offices in Karnataka, 23 offices in Madhya Pradesh, 11 offices in Rajasthan, 7 offices in Chhatisgarh, 7 offices in Tamil Nadu and 1 in Uttar Pradesh.

Highlights of Operational Performance

( in crore)

Detail December 31, 2014 December 31, 2013 Growth (%)
Net Interest Margin 247.53 193.72 28
Non Interest Expenses 48.42 43.11 12
Operating Profit 223.19 169.40 32
Profit Before Tax 195.95 151.26 30
Profit After Tax 129.74 103.36 26
Disbursements 2248.40 1824.74 23

January 19, 2015