Financial Results For The Quarter Ended December 31, 2017

GRUH FINANCE LTD.
FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2017

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended December 31, 2017 at their meeting held in Mumbai on January 20, 2018.

FINANCIAL RESULTS

Profit after tax for the period amounted to 232.17 crores as compared to 186.20 crores for the previous year, an increase of 25%.

Loan Portfolio

The loan portfolio as at December 31, 2017 amounted to 14,803 crores as against 12,534 crores in the previous year – an increase of 18%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the period were 3,748 crores as against 2,870 crores in the previous year indicating a growth of 31%.

Cumulative loan disbursements as of December 31, 2017 were 26,945 crores.

Non-Performing Loans

The Gross NPAs of the Company at 108.18 crores is 0.73% of the Loan Assets as against 0.67% of the Loan Assets as on September 30, 2017.

GRUH carries a provision of 23.96 crores on its NPA portfolio of 108.18 crores as on December 31, 2017. GRUH also carries a provision of 65.77 crores on its standard assets. Additionally, it carries an additional provision for contingencies of 84.22 crores.

As a result, the Net NPA as at December 31, 2017 stands at NIL indicating Net NPA to loans of NIL.

DEPOSITS

GRUH’s deposit portfolio is 1,402 crores, down from 1,503 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 “A1(+)” by ICRA and CRISIL and Non- Convertible Debenture (NCD) is rated at “AAA” by ICRA and CRISIL.

RETAIL NETWORK

GRUH has a network of 192 retail offices across 11 states of the country. GRUH has 48 offices in Gujarat, 51 offices in Maharashtra, 17 offices in Karnataka, 30 offices in Madhya Pradesh, 13 offices in Rajasthan, 12 offices in Chhattisgarh, 12 offices in Tamil Nadu, 5 in Uttar Pradesh, one office each in Bihar and Jharkhand and two in West Bengal.

January 20, 2018