Financial Results for the Half Year Ended September 30, 2012

GRUH FINANCE LTD.
FINANCIAL RESULTS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2012

The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the half year ended September 30, 2012 at their meeting held in Mumbai on October 11, 2012.

FINANCIAL RESULTS

Profit after tax for the year amounted to 53.93 crores as compared to 41.47 crores for the previous year – an increase of 30%

Loan Portfolio

The loan portfolio as at September 30, 2012 amounted to4672.03 crores as against 3543.52 crores in the previous year – an increase of 32%.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the half year were 959.96 crores as against 647.56 crores in the previous year indicating a growth of 48%.

Cumulative loan disbursements as of September 30, 2012 were 8302.35 crores.

Non-Performing Loans

The gross NPA as at September 30, 2012 stands at 27.88 crores or 0.60% (total loan outstanding portfolio of 4672.03 crores). An additional provision for contingencies of 6.77 crores has been made for the non performing assets during the year. As a result, Net NPA as at September 30, 2012 stands at NIL indicating Net NPA to loans of NIL.

DEPOSITS

GRUH’s deposit portfolio has increased to 579.01 crores, up from 315.30 crores as at September 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.

RETAIL NETWORK

GRUH has a network of 126 retail offices across 7 states of the country. GRUH has 40 offices in Gujarat, 40 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)

October 11, 2012