Press Release
October 15, 2014
Financial Results for the Half Year Ended September 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 HALF YEAR ENDED SEPTEMBER 30, 2014

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the half year ended September 30, 2014 at their meeting held in Mumbai on October 15, 2014.

FINANCIAL RESULTS

Profit after tax for the period amounted to 85.00 crores as compared to 68.12 crores for the previous year – an increase of 25%.

Loan Portfolio

The loan portfolio as at September 30, 2014 amounted to 7910.15 crores as against 6142.90 crores in the previous year – an increase of 29%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the quarter were 1503.15 crores as against 1197.15 crores in the previous year indicating a growth of 26%.

Cumulative loan disbursements as of September 30, 2014 were 13597.40 crores.

Non-Performing Loans

The gross NPA as at September 30, 2014 stands at 30.40 crores or 0.38% (total loan outstanding portfolio of 7910.15 crores).

GRUH is required to carry a provision of 9.98 crore towards NPAs and 34.67 crore towards standard assets as per the guidelines of NHB. However, GRUH is carrying total provisions of 65.31 crores on its Balance Sheet. As a result, Net NPA as at September 30, 2014 stands at NIL indicating Net NPA to loans of NIL.

DEPOSITS

GRUH’s deposit portfolio has increased to 1186.46 crores, up from 834.11 crores as at September 30, 2013 indicating a growth of 42%. GRUH’s Fixed Deposit programme is 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 148 retail offices across 7 states of the country. GRUH has 43 offices in Gujarat, 43 offices in Maharashtra, 17 offices in Karnataka, 22 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 September 30, 2014 September 30, 2013 Growth (%)
Net Interest Margin 159.52 124.87 27.75
Non Interest Expenses 33.32 29.20 14.12
Operating Profit 142.47 107.92 32.01
Profit After Tax 85.00 68.12 24.78
Disbursements 1503.15 1197.15 25.56
Loan Assets 7910.15 6142.90 28.77

October 15, 2014