Financial Results for the Quarter Ended June 30, 2012

GRUH FINANCE LTD.
FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2012

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended June 30, 2012 at their meeting held in Mumbai on July 12, 2012.

Profit after tax for the year amounted to 26.72 crores as compared to 20.55 crores for the previous year – an increase of 30%.

Housing Loan Portfolio

The loan portfolio as at June 30, 2012 amounted to 4349.51 crores as against 3362.50 crores in the previous year – an increase of 29%.

Loan Disbursements

Loan disbursements during the quarter were 440.64 crores as against 321.56 crores in the previous year indicating a growth of 37%.

Cumulative loan disbursements as of June 30, 2012 were 7783.03 crores.

Non-Performing Loans

The gross NPA as at June 30, 2012 stands at 29.73 crores or 0.68% (total loan outstanding portfolio of 4349.51 crores). An additional provision for contingencies of 4.94 crores has been made for the non performing assets during the quarter. As a result, Net NPA as at June 30, 2012 stands at 3.68 crore indicating Net NPA to loans of 0.08%.

GRUH’s deposit portfolio has increased to 528.37 crores, up from 282.94 crores as at June 30, 2011. 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.

GRUH has a network of 124 retail offices across 7 states of the country. GRUH has 39 offices in Gujarat, 39 offices in Maharashtra, 11 offices in Karnataka, 18 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 12, 2012