Press Release
January 15, 2016
Financial Results For The Quarter Ended December 31, 2015

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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 QUARTER ENDED DECEMBER 31, 2015

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended December 31, 2015 at their meeting held in Mumbai on January 15, 2016.

FINANCIAL RESULTS

Profit after tax for the year amounted to 155.76 crores as compared to 129.74 crores for the previous year, an increase of 20%.

Loan Portfolio

The loan portfolio as at December 31, 2015 amounted to 10519.36 crores as against 8392.88 crores in the previous year – an increase of 25%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the year were 2773.91 crores as against 2248.40 crores in the previous year indicating a growth of 23%.

Cumulative loan disbursements as of December 31, 2015 were 17989.03 crores.

Non-Performing Loans

The gross NPA as at December 31, 2015 stands at 65.42 crores or 0.62% (total loan outstanding portfolio of 10519.36 crores).

GRUH is required to carry a provision of 15.67 crore on its Gross NPA portfolio of 65.42 crore as on December 31, 2015 and 47.23 crores towards standard assets i.e. a total provision of 62.90 crore.

However, as a prudent measure, GRUH has made more than the required provision in its books. The total provision carried in the books including the provision for standard assets is 97.87 crore. As a result, the Net NPA as at December 31, 2015 stands at 14.78 crore indicating Net NPA to loans of 0.14%.

DEPOSITS

GRUH’s deposit portfolio has increased to 1389.38 crores, up from 1281.12 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 “A1(+)” by ICRA and Non Convertible Debenture (NCD) is rated at “AAA” by ICRA.

RETAIL NETWORK

GRUH has a network of 175 retail offices across 10 states of the country. GRUH has 46 offices in Gujarat, 48 offices in Maharashtra, 17 offices in Karnataka, 25 offices in Madhya Pradesh, 12 offices in Rajasthan, 13 offices in Chhatisgarh, 10 offices in Tamil Nadu, 2 in Uttar Pradesh and one office each in Bihar and Jharkhand.

Highlights of Operational Performance

( in crore)

Detail December 31, 2015 December 31, 2014 Growth (%)
Net Interest Margin 303.90 247.53 23
Non Interest Expenses 60.22 48.09 25
Operating Profit 271.48 223.19 22
Profit Before Tax 236.92 195.95 21
Profit After Tax 155.76 129.74 20
Disbursements 2773.91 2248.40 23

January 15, 2016