AHMEDABAD, India, July 9, 2013 /PRNewsServices/ —
GRUH Finance Ltd. – Financial Results for the Quarter Ended June 30, 2013
The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended June 30, 2013 at their meeting held in Ahmedabad on July 8, 2013.
FINANCIAL RESULTS
Profit after tax for the year amounted to Rs. 33.77 crores as compared to Rs. 26.72 crores for the previous year – an increase of 26%.
Housing Loan Portfolio
The loan portfolio as at June 30, 2013 amounted to Rs. 5727.21 crores as against Rs. 4338.49 crores in the previous year – an increase of 32%.
LENDING OPERATIONS
Loan Disbursements
Loan disbursements during the quarter were Rs. 566.86 crores as against Rs. 440.64 crores in the previous year indicating a growth of 29%.
Cumulative loan disbursements as of June 30, 2013 were Rs. 10083.64 crores.
Non-Performing Loans
The gross NPA as at June 30, 2013 stands at Rs 26.30 crores or 0.46% (total loan outstanding portfolio of Rs. 5727.21 crores).
GRUH is required to carry a provision of Rs. 8.56 crore in the Balance Sheet as at June 30, 2013 on its NPA portfolio as per the guidelines of NHB. GRUH has also made provision for standard loan assets aggregating Rs. 25.28 crore in line with NHB guidelines. Additionally, GRUH carries a provision for contingencies of Rs. 14.82 crore.
As a result, Net NPA as at June 30, 2013 stands at Rs. 2.92 crore indicating Net NPA to loans of 0.05%.
DEPOSITS
GRUH’s deposit portfolio has increased to Rs. 659.06 crores, up from Rs. 528.37 crores as at June 30, 2012. 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 “AA+” by CRISIL and ICRA.
RETAIL NETWORK
GRUH has a network of 136 retail offices across 7 states of the country. GRUH has 40 offices in Gujarat, 41 offices in Maharashtra, 14 offices in Karnataka, 19 offices in Madhya Pradesh, 10 offices in Rajasthan, 7 offices in Chhatisgarh and 5 offices in Tamil Nadu.
Highlights of Operational Performance(Rs. in crore)
Detail June 30, 2013 June 30, 2012 Growth (%)
Net Interest Margin 61.17 47.67 28.32
Non Interest Expenses 12.74 11.18 13.92
Operating Profit 54.02 41.52 30
Profit After Tax 33.77 26.72 26.37
Disbursements 566.86 440.64 28.65
Loan Assets 5727.21 4338.49 32.01
Contact : Pritesh Trivedi,
priteshtrivedi@oneadvt.com
91-97272-60309
Contact : Jagan Dave,
jagandave@oneadvt.com
91-98250-39860
