Press Release
July 18, 2016
Financial Results for the Quarter Ended June 30, 2016

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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, 2016

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended June 30, 2016 at their meeting held in Mumbai on July 18, 2016.

FINANCIAL RESULTS

Profit after tax for the quarter amounted to 60.18 crores as compared to 50.31 crores for the previous year quarter – an increase of 20%.

Housing Loan Portfolio

The loan portfolio as at June 30, 2016 amounted to 11,543.53 crores as against 9,329.23 crores in the previous year – an increase of 24%

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the quarter were 939.69 crores as against 773.35 crores in the previous year indicating a growth of 22%.

Cumulative loan disbursements as of June 30, 2016 were 20,011.39 crores.

Non-Performing Loans

The gross NPA as at June 30, 2016 stands at 64.70 crores or 0.56% (total loan outstanding portfolio of 11,543.53 crores).

GRUH is required to carry a provision of 14.46 crore in the Balance Sheet as at June 30, 2016 on its NPA portfolio as per the guidelines of NHB. GRUH has also made provision for standard loan assets aggregating 53.90 crore in line with NHB guidelines. Additionally, GRUH carries a provision for contingencies of 19.45 crore.

As a result, Net NPA as at June 30, 2016 stands at 30.80 crore indicating Net NPA to loans of 0.27%.

DEPOSIT

GRUH’s deposit portfolio has increased to 1,394.75 crores, up from 1,296.49 crores as at June 30, 2015. 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 ICRA and Long Term Debt and Sub Ordinate Debt programmes are rated “AAA” by ICRA.

RETAIL NETWORK

GRUH has a network of 179 retail offices across 10 states of the country. GRUH has 46 offices in Gujarat, 49 offices in Maharashtra, 17 offices in Karnataka, 28 offices in Madhya Pradesh, 11 offices in Rajasthan, 13 offices in Chhattisgarh, 10 offices in Tamil Nadu, 3 branches in Uttar Pradesh and one each in the states of Jharkhand and Bihar.

Highlights of Operational Performance

( in crore)

Details June 30, 2016 June 30, 2015 Growth (%)
Net Interest Margin 114.21 94.75 21
Non Interest Expenses 22.66 18.68 21
Operating Profit 101.68 86.02 18
Profit After Tax 60.18 50.31 20
Disbursements 939.69 773.35 22
Loan Assets 11,543.53 9,329.23 24

July 18, 2016