Press Release
October 19, 2015
Financial Results for the Half Year Ended September 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 HALF YEAR ENDED SEPTEMBER 30, 2015

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, 2015 at their meeting held in Mumbai on October 19, 2015.

FINANCIAL RESULTS

Profit after tax for the period amounted to 102.02 crores as compared to 85.00 crores for the previous year – an increase of 20%.

Loan Portfolio

The loan portfolio as at September 30, 2015 amounted to 9912.99 crores as against 7920.35 crores in the previous year – an increase of 25%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the period were 1750.71 crores as against 1503.15 crores in the previous year indicating a growth of 16%.

Cumulative loan disbursements as of September 30, 2015 were 16965.83 crores.

Non-Performing Loans

The gross NPA as at September 30, 2015 stands at 57.87 crores or 0.58% (total loan outstanding portfolio of 9912.99 crores). The Net NPA as at September 30, 2015 stands at 19.62 indicating Net NPA to loans of 0.20%.

DEPOSITS

GRUH’s deposit portfolio has increased to 1328.70 crores, up from 1186.46 crores as at September 30, 2014 indicating a growth of 12%. 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 CaRISIL and ICRA.

During the quarter, ICRA upgraded GRUH’s rating on its Long Term Debt and Sub Ordinate Debt programmes from “AA+” to “AAA”.

RETAIL NETWORK

GRUH has a network of 171 retail offices across 8 states of the country. GRUH has 46 offices in Gujarat, 48 offices in Maharashtra, 17 offices in Karnataka, 24 offices in Madhya Pradesh, 12 offices in Rajasthan, 13 offices in Chhatisgarh, 10 offices in Tamil Nadu and 1 office in Uttar Pradesh.

Highlights of Operational Performance

( in crore)

Detail September 30, 2015 September 30, 2014 Growth (%)
Net Interest Margin 194.92 159.52 22.19
Non Interest Expenses 40.88 33.78 21.03
Operating Profit 172.48 142.47 21.06
Profit After Tax 102.02 85.00 20.02
Disbursements 1750.71 1503.15 16.47
Loan Assets 9912.99 7920.35 25.16

October 19, 2015