Press Release
July 08, 2013
Financial Results for the Quarter Ended June 30, 2013

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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 JUNE 30, 2013

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended June 30, 2013 at their meeting held in Ahmedabad on July 8, 2013.

FINANCIAL RESULTS

Profit after tax for the year amounted to 33.77 crores as compared to 26.72 crores for the previous year – an increase of 26%.

Housing Loan Portfolio

The loan portfolio as at June 30, 2013 amounted to 5727.21 crores as against 4338.49 crores in the previous year – an increase of 32%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the quarter were 566.86 crores as against . 440.64 crores in the previous year indicating a growth of 29%.

Cumulative loan disbursements as of June 30, 2013 were 10083.64 crores.

Non-Performing Loans

The gross NPA as at June 30, 2013 stands at 26.30 crores or 0.46% (total loan outstanding portfolio of 5727.21 crores).

GRUH is required to carry a provision of 8.56 crore in the Balance Sheet as at June 30, 2013 on its NPA portfolio as per the guidelines of NHB. GRUH has also made provision for standard loan assets aggregating 25.28 crore in line with NHB guidelines. Additionally, GRUH carries a provision for contingencies of 14.82crore.

As a result, Net NPA as at June 30, 2013 stands at 2.92 crore indicating Net NPA to loans of 0.05%.

DEPOSITS

GRUH’s deposit portfolio has increased to 659.06 crores, up from 528.37 crores as at June 30, 2012. GRUH’s Fixed Deposit programme has been rated “AAA” by CRISIL and ICRA. The rating of “AAA” indicates that the degree of safety of repayment and principal is Very Strong.

GRUH’s Short Term borrowings including Commercial Paper (CP) and short term NCD’s is rated “A1(+)” by CRISIL and ICRA and Long Term Debt and Sub Ordinate Debt programmes are rated “AA+” by CRISIL and ICRA.

RETAIL NETWORK

GRUH has a network of 136 retail offices across 7 states of the country. GRUH has 40 offices in Gujarat, 41 offices in Maharashtra, 14 offices in Karnataka, 19 offices in Madhya Pradesh, 10 offices in Rajasthan, 7 offices in Chhatisgarh and 5 offices in Tamil Nadu.

Highlights of Operational Performance

( in crore)

Detail June 30, 2013 June 30, 2012 Growth (%)
Net Interest Margin 61.17 47.67 28.32
Non Interest Expenses 12.74 11.18 13.92
Operating Profit 54.02 41.52 30
Profit After Tax 33.77 26.72 26.37
Disbursements 566.86 440.64 28.65
Loan Assets 5727.21 4338.49 32.01

July 08, 2013