GRUH FINANCE 2s LIMITED We Frlp you build homes SEC: 2016: October 10, 2016 ‘The BSE Ltd. The National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, “Exchange Plaza”, 26" Floor, Dalal Street Bandra-Kurla Complex, Mumbai ~ 400 001 Bandra (E ), Mumbai 400 051 BSE Security Code No: 511288 ‘Symbol : GRUH Kind Attn : Mr § Subramanian - DCS -CRD | Kind Attn : Mr K Hari ~ Head - Listing Dear Sir, ‘Sub: Unaudited Financial Results for the quarter/half year ended September 30, 2016 : We are pleased to inform you that at the meeting of the Board of Directors of the Company held today at Mumbai the Unaudited Financial Results of the Company for the ‘querter / half year ended on September 30, 2016 which have been subjected to a “Limited Review” by the Auditors, were token on record/ approved. Pursuant to Regulation 33 of the SEBI (LODR) Regulations, 2015 we are enclosing herewith the Annexure containing the said results, in the prescribed form duly signed by the Managing Director of the Company. Further, pursuant to the listing regulations, we enclose herewith the Review Report of the Auditors. Kindly note the same and notify your constituents accordingly. Thanking you, Yours sincerely, For GRUH FINANCE LIMITED Mal WE Company Secretary Registered Office: GRUH™, Netaji Marg, Near Mithakhali Six Roads, Ellisbridge, Anmedabad-380 006. Tel. :(91)(79)3290 1222/23, 2642 1671-74 Fax: (91)(79)26560649 CIN: L65923GJ1986PL.C008809 - Website: www.gruh.comGRUH FINANCE 2S LIMITED We help you build homes UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED SEPTEMBER 30, 2016 (Rs. in crores Quarter | Quarter | Quarter | Half Year | Half Year | Year roe ended | ended | ended | ended | ended | ended ee: ‘Sept 30, | June 30, | Sept 30, | Sept 30, | Sept 30, | March 2016 | 2016 | 2015 | 2016 | 2015 | 31, 2016 reviewed Audited Income from Operations : Revenue from Operations 367.43 | 346.34] 311.81| 713.77 | 606.20| 1,275.40 Total Income from Operations | 367.43| 346,34| 311.81| 713.77| 606.20 | 1,275.40 Expenditure : a) Finance Cost 235.14| 224.10] 198.74 459.24 388.92| 807.41 b) Employee Benefit Expenses | 17.45| 9.74| 15.67 27.19| 23.97| 42.80 ¢) Other Expenses 914| 9.66| 9.36] 18.80] 17.46| 38.53 4) Depreciation 074] 074] 072; 1.48/ 1.50 3.03 1) Provisions, Contingencies | aa ara] 1284] 77] 21.67| 19.25] 21.93 | Total Expenditure 271.60| 256.78| 231.56| 528.38) 451.10) 913.70 Profit from Operations Before nes eee 95.83| 89.56) 80.25| 185.39| 155.10, 361.70 Other Income 0.00| 0.00] 0.00| 0.00| 0.00 0.00 | Profit Before Tax 95.83| 89.56| 80.25| 185.39| 155.10| 361.70 Tax Expenses 3a.85| 29.38/ 28.54] 63.23| 53.08| 118.12 Net Profit After Tax | 6198] 60.18) 51.71 122.16] 102.02| 243.58 Earnings per Share # | (of Rs. 2 each) | | Basic (Rs.) 1.703| 1.655| 1.423, 3.358| _2.807| _ 6.699 -Dituted Rs.) | 1.703] 1.655] 1.423; 3.358] 2806|/ 6.698 Paid-up Debt Capital 35.00} 35.00| 36.00] 35.00| 38.00| 36.00 Paid-up Equity Share Capital eevee Creel 72.78| 72.74) 72.73| 72.78| 72.73| 72.74 Reserves excluding Revaluation Reserves as at March 31, 2016 cere | eee 26. # Not Annualised for the quarters and hail-years Tel (91) (78) 3290 1222123, 2642 1671-74 CIN: L65923G/1986PLC008809 - Website: www.gruh.com 1 js, Ellisbridge, Anmedabad-380 006 Fax: (91)(79) 2656 0649LIMITED 1 bo por Ba oes NOTES = 1. The Company's main business is to provide loans for purchase or construction of residential houses. All other activities of the Company revolve around the main business. As such, there are no separate reportable segments as per the Accounting Standard on Segment Reporting (AS 17). 2. During the quarter, CRISIL has upgraded GRUH's Long-Term Borrowings rating from [CRISIL] AA+ (pronounced CRISIL double A plus) with positive outlook to [CRISIL] AAA (pronounced CRISIL triple A) with stable outlook. GRUH already carries the rating of [ICRA] AAA, (pronounced as ICRA Triple A) with stable ‘outlook from ICRA, to GRUH's Long - Term Borrowings. 3. Loan Assets have increased from Rs. 9,913 crores as on September 30, 2015 to Rs. 12,089 crores as on September 30, 2016 registering a growth of 22%. 4. The aggregate NPAs of the Company are 0.62% of the Loan Assets as against 0.58% of the Loan Assets as on September 30, 2015. The Net NPAs of the Company are 0.29% of the Loan Assets. 5. Vide circular NHB(ND)/ORS/Policy Circular 65/2014-16 dated August 22, 2014, the National Housing Bank ("NHB") had directed Housing Finance Companies (HFCs) to provide for a deferred tax liability in respect of amount transferred to "Special Reserve” created under section 36(1)(viil) of the Income Tax Act, 1961. Accordingly, the Company has charged its ‘Statement of Profit & Loss for the quarter and half-year ended September 30, 2016 with the deferred tax liability on additional amount expected to be appropriated towards Special Reserve out of profits. This amount is reflected under the head “Tax Expenses”, As per above circular, NHB has advised HFCs to create deferred tax liability in respect of accumulated balance of Special Reserve as on April 1, 2014 from the reserves over a period of 3 years starting with financial year 2014-15, in @ phased manner in the ratio of 28:26:50. Accordingly, the Company has created first and second phase of 25% each deferred tax liability on accumulated special reserve as on April 1, 2014 at the year-end in annual accounts of FY 2014-15 and 2015-16. The Company would create third and final phase of 50% of deferred tax liability on accumulated Special Reserve as on April 1, 2014 at the year-end in annual accounts of FY 2016-17. 6. During the quarter, the Company allotted 2,12,578 Equity Shares pursuant to the exercise of the stock options by employees. 7. During the period under review, there are no transactions in the nature of exceptional or extraordinary items. \8. A Statement showing Assets and Liabilities Cpa: (Rs. in crores) ; ‘As At September 30, ‘As At March 31, ey 8 | 2018 2016 Equity and Liabilities Shareholders’ Funds Share Capital 72.18 72.73 72.74 Reserves and Surplus 889.56 741.57 762.56 ‘Sub-Total Shareholders’ Funds 962.34 814.30 836.30 Non-Current Liabilities Long-Term Borrowings 7,243.98 6,858.44 8,628.16 Deferred Tax Liability (Net) 65.29 23.86 58.55 Other Long-Term Liabilities 92.04 84.90 69.64 Long-Term Provisions 98.27 83.73 79.20 ‘Sub Total Non - Current bilities 7,498.98 | __ 7,050.93 $835.55, Current Liabilities Short-Term Borrowings 2,435.08) 1,274.17 23.89 Trade Payables 121 0.79 118 Other Current Liabilities 1,532.66, 1,041.39 1,643.42 Short-Term Provisions 2.68 5.81 103.26 Sub - Total Current Liabiltios 3,971.63| 2,822.16 1771.76 “Total Equity and Liebilte 72,432.95 | 10,187.39 11,442.60 Non - Current Assets Fixed Assets Tangible Assets 13.38 13.49 13.83 Intangible Assets 0.67 0.87 0.73 Non-Current Investments 138.94 38.38 32.95 Long-Term Loans and Advances Loans 11,405.16 | 9,324.19 10,497.33 Others 18.34 9.04 40.26, Other Non-Current Assets 13.00 19.95 28.09 ‘Sub - Total Non - Current Assets 117,589.49 | __ 9,405.92 10,613.19 Current Assets Current investments 0.00 107.07 109.97 Cash and Bank Balances 54.89 25.99 57.56 Short-Term Loans and Advances 95.33 52.77 37.33, Other Current Assets Loans 683.96 588.80 617.22 Others 9.28 6.84 7.33 ‘Sub - Total Current Assets 843.46 761.47 329.41 Total Assets 12,432.95 | 10,187.39 77,442,60 ‘The Classification of Assets and Liabilities into Current and Non-Current is carried out based on their residual maturity profile as per the requirement of Schedule Ill to the Companies Act, 2013. \vGRUK FINANCE LIMITED, ‘The estimates and assumptions regarding pre-payments and renewals as prescribed by the National Housing Bank (NHB) (which are taken into account for ALM purpose) are not considered while classifying the assets and liabilities into “Current” and “Non-current”. 9. Previous period/year figures have been regrouped and reclas: make them comparable with current period figures. ied, where necessary, to The above results for the quarter and half-year ended September 30, 2016, which have been subjected to a ‘Limited Review’ by the Auditors of the Company, were reviewed and recommended by the Audit Committee of Directors and subsequently approved by the Board of Directors at their meeting held on October 10, 2016 in terms of Regulation 33 of the SEB! (Listing Obligations and Disclosure Requirements) Regulations, 2015. For GRUH Finance Limited Weoe ‘Sudhin Choksey Managing Director October 10, 2016 MumbaiSORAB S. ENGINEER & CO. (Regd.) CHARTERED ACCOUNTANTS: ‘TELEPHONE : +91 79 2658 4304 FAX +491 79 2658 9710 EMAIL :sseahm@sseco.in 909, ATMA HOUSE, ‘sseahm@hotmall.com OPP. OLD RESERVE BANK OF INDIA, WEB. : www.sseco.in ASHRAM ROAD, AHIMEDABAD-380 009, Review Report to the Board of Directors GRUH Finance Limited Ahmedabad We have reviewed the accompanying statement of unaudited financial results of GRUH FINANCE LIMITED (“the Company”) for the period ended September 30, 2016. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of Material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion, Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. he For Sorab S. Engineer & Co. ¢ Firm Registration No. 110417W Chartered Accountants CA. N. D. Anklesaria Partner Membership No. 10250 Mumbai October 10, 2016 Head Office : 902, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai-400 021. Telephone : +81 22 2282 4811, 2204 0861 + Email : sorabsengineer@yahoo.com, ssemum@sseco.in Bangalore Branch : Flat No.1, First Foor, 1, No.9, Vaasthu Jayalakshami, 1st Main Road, Sheshadripuram, Bangaloro-560 020. Telephone : +91 9925879234 * Email : sseblr@sseco in