Financial Results for the Quarter Ended June 30, 2011

GRUH FINANCE LTD.
FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2011

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended June 30, 2011 at their meeting held in Ahmedabad on July 14, 2011.

FINANCIAL RESULTS

Profit after tax for the quarter amounted to 20.55 crores as compared to 15.95 crores for the previous year, an increase of 29%.

Housing Loan Portfolio

The loan portfolio as at June 30, 2011 amounted to 3362.50 crores as against 2565.77 crores in the previous year – an increase of 31%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the quarter were 321.56 crores as against 234.58 crores in the previous year indicating a growth of 37%.

Cumulative loan disbursements as of June 30, 2011 were 6177.43 crores.

Non-Performing Loans

The gross NPA as at June 30, 2011 stands at Rs 37.74 crores or 1.12% (total loan outstanding portfolio of 3362.50 crores). An additional provision for contingencies of 11.31 crores has been made for the non performing assets during the quarter. As a result, Net NPA as at June 30, 2011 stands at NIL indicating NIL Net NPA.

DEPOSITS

GRUH’s deposit portfolio has increased to 282.94 crores, up from 280.69 crores as at June 30, 2010. 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 117 retail offices across 7 states of the country. GRUH has 36 offices in Gujarat, 36 offices in Maharashtra, 11 offices in Karnataka, 17 offices in Madhya Pradesh, 9 offices in Rajasthan, 4 offices in Chhatisgarh and 4 offices in Tamil Nadu.

HIGHLIGHTS OF OPERATIONAL PERFORMANCE

( in crore)

July 14, 2011