Press Release
July 10, 2015
Financial Results for the Quarter Ended June 30, 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 JUNE 30, 2015

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended June 30, 2015 at their meeting held in Mumbai on July 10, 2015.

FINANCIAL RESULTS

Profit after tax for the year amounted to 50.31 crores as compared to 41.91 crores for the previous year – an increase of 20%.

Housing Loan Portfolio

The loan portfolio as at June 30, 2015 amounted to 9329.23 crores as against 7388.28 crores in the previous year – an increase of 26%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the quarter were 773.35 crores as against 690.03 crores in the previous year indicating a growth of 12%.

Cumulative loan disbursements as of June 30, 2015 were 15988.47 crores.

Non-Performing Loans

The gross NPA as at June 30, 2015 stands at 48.34 crores or 0.52% (total loan outstanding portfolio of 9329.23 crores).

GRUH is required to carry a provision of 12.23 crore in the Balance Sheet as at June 30, 2015 on its NPA portfolio as per the guidelines of NHB. GRUH has also made provision for standard loan assets aggregating 40.66 crore in line with NHB guidelines. Additionally, GRUH carries a provision for contingencies of 22.51 crore.

As a result, Net NPA as at June 30, 2015 stands at 13.60 crore indicating Net NPA to loans of 0.15%.

DEPOSITS

GRUH’s deposit portfolio has increased to 1296.49 crores, up from 1122.95 crores as at June 30, 2014. 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 162 retail offices across 8 states of the country. GRUH has 46 offices in Gujarat, 44 offices in Maharashtra, 17 offices in Karnataka, 23 offices in Madhya Pradesh, 11 offices in Rajasthan, 11 offices in Chhatisgarh and 9 offices in Tamil Nadu and 1 branch in Uttar Pradesh.

Highlights of Operational Performance

( in crore)

Detail June 30, 2015 June 30, 2014 Growth (%)
Net Interest Margin 94.75 77.41 22.40
Non Interest Expenses 16.31 14.56 12.02
Operating Profit 86.04 72.22 19.14
Profit After Tax 50.31 41.91 20.03
Disbursements 773.35 690.03 12.07
Loan Assets 9329.23 7388.28 26.27

July 10, 2015