Financial Results for the Nine Months Ended December 31, 2012
Press Release
January 15, 2013
Financial Results for the Nine Months Ended December 31, 2012
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Corporate office |
GRUH FINANCE LTD.
FINANCIAL RESULTS FOR THE NINE MONTHS ENDED DECEMBER 31, 2012
The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended December 31, 2012 at their meeting held in Mumbai on January 15, 2013.
FINANCIAL RESULTS
Profit after tax for the year amounted to 82.82 crores as compared to 64.77 crores for the previous year, an increase of 28%.
Housing Loan Portfolio
The loan portfolio as at December 31, 2012 amounted to5002.92 crores as against 3761.31 crores in the previous year – an increase of 33%.
LENDING OPERATIONS
Loan Disbursements
Loan disbursements during the half year were 1490.71 crores as against 1001.19 crores in the previous year indicating a growth of 49%.
Cumulative loan disbursements as of December 31, 2011 were 8833.10 crores.
Non-Performing Loans
The gross NPA as at December 31, 2012 stands at 26.74 crores or 0.53% (total loan outstanding portfolio of 5002.92 crores).
GRUH is required to carry a provision of 8.06 crore on its Gross NPA portfolio of 26.74 crore as on December 31, 2012 based on the revised guidelines and . 22.41 crores towards standard assets i.e. a total provision of 30.47 crore.
However, as a prudent measure, GRUH has made more than the required provision as a result of which, the Net NPA as at December 31, 2012 stands at NIL indicating Net NPA to loans of NIL.
DEPOSITS
GRUH’s deposit portfolio has increased to 632.35 crores, up from 357.25 crores last year. GRUH’s Fixed Deposit programme has been rated “FAA+” by CRISIL and “MAA+” by ICRA. The rating of “FAA+” and “MAA+” indicates ‘High 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.
RETAIL NETWORK
GRUH has a network of 130 retail offices across 7 states of the country. GRUH has 40 offices in Gujarat, 40 offices in Maharashtra, 13 offices in Karnataka, 18 offices in Madhya Pradesh, 9 offices in Rajasthan, 5 offices in Chhatisgarh and 4 offices in Tamil Nadu.
Highlights of Operational Performance
( in crore)
| Detail | December 31, 2012 | December 31, 2011 | Growth (%) |
|---|---|---|---|
| Net Interest Margin | 155.87 | 130.72 | 19.24 |
| Non Interest Expenses | 36.04 | 29.52 | 22.11 |
| Operating Profit | 136.01 | 114.56 | 18.72 |
| Profit Before Tax | 121.90 | 95.76 | 27.29 |
| Profit After Tax | 82.82 | 64.77 | 27.88 |
| Disbursements | 1490.71 | 1001.19 | 48.89 |
January 15, 2013
