Press Release
October 10, 2016
Financial Results for the Half Year Ended September 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 HALF YEAR ENDED SEPTEMBER 30, 2016

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, 2016 at their meeting held in Mumbai on October 10, 2016.

FINANCIAL RESULTS

Profit after tax for the period amounted to 122.16 crores as compared to 102.02 crores for the previous year – an increase of 20%.

Loan Portfolio

The loan portfolio as at September 30, 2016 amounted to 12,089 crores as against 9,913 crores in the previous year – an increase of 22%.

LENDING OPERATIONS
Loan Disbursements

Loan disbursements during the period were 1945.13 crores as against 1750.71 crores in the previous year indicating a growth of 11%.

Cumulative loan disbursements as of September 30, 2016 were 21016.83 crores.

Non-Performing Loans

The gross NPA as at September 30, 2016 stands at 74.57 crores or 0.62% (total loan outstanding portfolio of 12,089 crores). The Net NPA as at September 30, 2016 stands at 35.59 crores indicating Net NPA to loans of 0.29%.

DEPOSIT

GRUH’s deposit portfolio has increased to 1455.60 crores, up from 1328.70 crores as at September 30, 2015 indicating a growth of 10%. GRUH’s Fixed Deposit programme is rated “AAA” by CRISIL and ICRA. The rating of “AAA” indicates that the degree of safety regarding timely payment of interest 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.

During the year, CRISIL upgraded GRUH’s rating on its Long Term Debt and Sub Ordinate Debt programmes from “AA+ (positive)” to “AAA (stable)”. Now GRUH’s Long Term Debt and Subordinate Debt Programme are rated AAA by both rating agencies viz. CRISIL and ICRA.

RETAIL NETWORK

GRUH has a network of 180 retail offices across 10 states of the country. GRUH has 47 offices in Gujarat, 49 offices in Maharashtra, 17 offices in Karnataka, 28 offices in Madhya Pradesh, 12 offices in Rajasthan, 12 offices in Chhattisgarh, 10 offices in Tamil Nadu, 3 offices in Uttar Pradesh and one each in Jharkhand and Bihar.

Highlights of Operational Performance

( in crore)

Details Sept 30, 2016 Sept 30, 2015 Growth (%)
Net Interest Margin 234 195 20
Non Interest Expenses 45 41 10
Operating Profit 204 172 18
Profit After Tax 122 102 20
Disbursements 1945 1751 11
Loan Assets 12089 9913 22

October 10, 2016