The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the accounts for the quarter ended December 31, 2013 at their meeting held in Mumbai on January 16, 2014.
FINANCIAL RESULTS
Profit after tax for the year amounted to Rs. 103.36 crores as compared to Rs. 82.82 crores for the previous year, an increase of 25%.
Housing Loan Portfolio
The loan portfolio as at December 31, 2013 amounted to Rs. 6544.60 crores as against Rs. 4995.11 crores in the previous year – an increase of 31%.
LENDING OPERATIONS
Loan Disbursements
Loan disbursements during the year were Rs. 1824.74 crores as against Rs. 1490.71 crores in the previous year indicating a growth of 22%.
Cumulative loan disbursements as of December 31, 2013 were Rs. 11341.52 crores.
Non-Performing Loans
The gross NPA as at December 31, 2013 stands at Rs 29.93 crores or 0.46% (total loan outstanding portfolio of Rs. 6544.61 crores).
GRUH is required to carry a provision of Rs. 9.44 crore on its Gross NPA portfolio of Rs. 29.93 crore as on December 31, 2013 based on the revised guidelines and Rs. 28.68 crores towards standard assets i.e. a total provision of Rs. 38.12 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, 2013 stands at NIL indicating Net NPA to loans of NIL.
DEPOSITS
GRUH’s deposit portfolio has increased to Rs. 926.94 crores, up from Rs. 632.35 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 “P1(+)” by CRISIL and Non Convertible Debenture (NCD) is rated at “AA+” by ICRA.
RETAIL NETWORK
GRUH has a network of 138 retail offices across 7 states of the country. GRUH has 40 offices in Gujarat, 41 offices in Maharashtra, 15 offices in Karnataka, 20 offices in Madhya Pradesh, 10 offices in Rajasthan, 7 offices in Chhatisgarh and 5 offices in Tamil Nadu.
FINANCIAL RESULTS
Profit after tax for the year amounted to Rs. 103.36 crores as compared to Rs. 82.82 crores for the previous year, an increase of 25%.
Housing Loan Portfolio
The loan portfolio as at December 31, 2013 amounted to Rs. 6544.60 crores as against Rs. 4995.11 crores in the previous year – an increase of 31%.
LENDING OPERATIONS
Loan Disbursements
Loan disbursements during the year were Rs. 1824.74 crores as against Rs. 1490.71 crores in the previous year indicating a growth of 22%.
Cumulative loan disbursements as of December 31, 2013 were Rs. 11341.52 crores.
Non-Performing Loans
The gross NPA as at December 31, 2013 stands at Rs 29.93 crores or 0.46% (total loan outstanding portfolio of Rs. 6544.61 crores).
GRUH is required to carry a provision of Rs. 9.44 crore on its Gross NPA portfolio of Rs. 29.93 crore as on December 31, 2013 based on the revised guidelines and Rs. 28.68 crores towards standard assets i.e. a total provision of Rs. 38.12 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, 2013 stands at NIL indicating Net NPA to loans of NIL.
DEPOSITS
GRUH’s deposit portfolio has increased to Rs. 926.94 crores, up from Rs. 632.35 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 “P1(+)” by CRISIL and Non Convertible Debenture (NCD) is rated at “AA+” by ICRA.
RETAIL NETWORK
GRUH has a network of 138 retail offices across 7 states of the country. GRUH has 40 offices in Gujarat, 41 offices in Maharashtra, 15 offices in Karnataka, 20 offices in Madhya Pradesh, 10 offices in Rajasthan, 7 offices in Chhatisgarh and 5 offices in Tamil Nadu.
