GRUH Finance Ltd. - Profit After Tax for the Year Amounted to Rs. 129.74 Crores as Compared to Rs. 103.36 Crores for the Previous Year, an Increase of 26%

AHMEDABAD, India, January 19, 2015 /PRNewswire/ --

Financial Results for the Quarter Ended December 31, 2014

The Board of Directors of GRUH Finance Ltd. (GRUH) - a subsidiary of HDFC Ltd. - has approved the accounts for the quarter ended December 31, 2014 at their meeting held in Mumbai on January 19, 2015.

Financial Results

Profit after tax for the year amounted to Rs. 129.74 crores as compared to Rs. 103.36 crores for the previous year, an increase of 26%.

Housing Loan Portfolio 

The loan portfolio as on December 31, 2014 amounted to Rs. 8382.43 crores as against Rs. 6544.60 crores in the previous year - an increase of 28%.

LENDING OPERATIONS

Loan Disbursements 

Loan disbursements during the year were Rs. 2248.40 crores as against Rs. 1824.74 crores in the previous year indicating a growth of 23%.

Cumulative loan disbursements as of December 31, 2014 were Rs. 14342.65 crores.

Non-Performing Loans 

The gross NPA as on December 31, 2014 stands at Rs 48.17 crores or 0.57% (total loan outstanding portfolio of Rs. 8382.43 crores).

GRUH is required to carry a provision of Rs. 12.95 crore on its Gross NPA portfolio of Rs. 48.17 crore as on December 31, 2014 and Rs. 36.63 crores towards standard assets i.e. a total provision of Rs. 49.58 crore.

However, as a prudent measure, GRUH has made more than the required provision as a result of which, the Net NPA as on December 31, 2014 stands at Rs. 5.50 crore indicating Net NPA to loans of 0.07%.

Deposits

GRUH's deposit portfolio has increased to Rs. 1281.12 crores, up from Rs. 926.94 crores last year. GRUH's Fixed Deposit programme has been rated "FAAA" by CRISIL and "MAAA" by ICRA. The rating of "FAAA" and "MAAA" indicates 'Highest Safety" as regards repayment of interest and principal. GRUH's Commercial Paper (CP) is rated at "P1(+)" by CRISIL and Non Convertible Debenture (NCD) is rated at "AA+" by ICRA.

About GRUH Finance Ltd. 

GRUH has a network of 153 retail offices across 8 states of the country. GRUH has 44 offices in Gujarat, 43 offices in Maharashtra, 17 offices in Karnataka, 23 offices in Madhya Pradesh, 11 offices in Rajasthan, 7 offices in Chhatisgarh, 7 offices in Tamil Nadu and 1 in Uttar Pradesh. For more information, visit www.gruh.com

Highlights of Operational Performance                                                                                                          

   

                                        (Rs. in crore)
    Detail                December 31, 2014  December 31, 2013  Growth (%)
    Net Interest Margin        247.53            193.72           28
    Non Interest Expenses       48.42             43.11           12
    Operating Profit           223.19            169.40           32
    Profit Before Tax          195.95            151.26           30
    Profit After Tax           129.74            103.36           26
    Disbursements             2248.40           1824.74           23

Media Contact: Pritesh Trivedi, [email protected], +91-9727260309, Manager - PR, One Advertising & Communication Services Ltd.