Press Release
July 17, 2014
Financial Results for the Quarter Ended June 30, 2014

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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, 2014

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended June 30, 2014 at their meeting held in Mumbai on July 17, 2014.

FINANCIAL RESULTS

Profit after tax for the year amounted to 41.91 crores as compared to 33.77 crores for the previous year – an increase of 24%.

Housing Loan Portfolio

The loan portfolio as at June 30, 2014 amounted to 7377.94 crores as against 5727.21 crores in the previous year – an increase of 29%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the quarter were 690.03 crores as against 566.86 crores in the previous year indicating a growth of 22%.

Cumulative loan disbursements as of June 30, 2014 were 12784.28 crores.

Non-Performing Loans

The gross NPA as at June 30, 2014 stands at 32.48 crores or 0.44% (total loan outstanding portfolio of 7377.94 crores).

GRUH is required to carry a provision of 10.16 crore in the Balance Sheet as at June 30, 2014 on its NPA portfolio as per the guidelines of NHB. GRUH has also made provision for standard loan assets aggregating 32.19 crore in line with NHB guidelines. Additionally, GRUH carries a provision for contingencies of 19.51 crore.

As a result, Net NPA as at June 30, 2014 stands at 2.80 crore indicating Net NPA to loans of 0.04%.

DEPOSITS

GRUH’s deposit portfolio has increased to 1122.95 crores, up from 659.06 crores as at June 30, 2013. 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 145 retail offices across 7 states of the country. GRUH has 42 offices in Gujarat, 42 offices in Maharashtra, 17 offices in Karnataka, 21 offices in Madhya Pradesh, 10 offices in Rajasthan, 7 offices in Chhatisgarh and 6 offices in Tamil Nadu.

Highlights of Operational Performance

( in crore)

Detail June 30, 2014 June 30, 2013 Growth (%)
Net Interest Margin 77.41 61.17 26.55
Operating Profit 72.22 54.02 33.69
Profit After Tax 41.91 33.77 24.13
Disbursements 690.03 566.86 21.73
Loan Assets 7377.94 5727.21 28.82

July 17, 2014