GRUH Finance Ltd. - Profit After Tax for the Quarter Amounted to Rs. 60.18 Crores as Compared to Rs. 50.31 Crores for the Previous Year Quarter - an Increase of 20%

AHMEDABAD, India, July 19, 2016 /PRNewswire/ --

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 Rs. 60.18 crores as compared to Rs. 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 Rs. 11,543.53 crores as against Rs. 9,329.23 crores in the previous year - an increase of 24%.

LENDING OPERATIONS 

Loan Disbursements 

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

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

Non-Performing Loans 

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

GRUH is required to carry a provision of Rs. 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 Rs. 53.90 crore in line with NHB guidelines. Additionally, GRUH carries a provision for contingencies of Rs. 19.45 crore.

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

DEPOSITS 

GRUH's deposit portfolio has increased to Rs. 1,394.75 crores, up from Rs. 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 CRISIL and 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. For more details, visit:  http://www.gruh.com/

Highlights of Operational Performance

(Rs. in crore)

   
    Detail               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

Media Contact :
Pritesh Trivedi
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91-9727260309
Manager - PR
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