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GRUH Finance Limited

(A Subsidiary of HDFC Limited)


SEPT 2016

GRUH PROFILE

Promoted by HDFC & AKFED on July 21, 1986


Commenced operations in 1988 from Ahmedabad
A subsidiary of HDFC - Since June 2000
Regulated by National Housing Bank (NHB) Wholly
owned subsidiary of Reserve Bank of India (RBI)
Recognized by NHB for Refinance facility

As on Sept. 30, 2016

Cumulative Housing Units Financed 3,50,722


Cumulative Disbursement of Rs. 20,795 Cr.
Average Loan Per Unit on Cumulative Disbursement Rs.7.24 Lac
Cumulative Disbursement in Rural Areas(*) Rs.9,640 Cr.
Retail Network of 180 offices across 10 States.
States
Consistent track record of Dividend Payout
(*)

Rural Areas are locations where populations is less than 50,000

As on Sept. 30, 2016

Outstanding LoanAssets of Rs. 12,089 Cr.


Average Loan Outstanding Per Unit Rs. 6.53 Lac
Loan Disbursement during the period Rs. 1,945 Cr.
Average Loan Per Unit on Disbursement during the PeriodRs. 8.76 Lac
Loan Disbursement in RuralAreas during the Period Rs. 935 Cr. (48%)
Gross NPAs Rs. 74.57 Cr 0.62% of Outstanding LoanAssets of Rs. 12,089 Cr.
Net NPAs Rs.35.59 Cr (0.29%)

Ratings
g
Public Deposits :
MAAA
MAAA by ICRA and
FAAA by CRISIL
Non-Convertible Debentures : AAA ((Stable)
) by
y ICRA
and CRISIL
Subordinated NCD: AAA (Stable) by ICRA and CRISIL
Commercial
C
i lP
Paper : A1
A1+ b
by ICRA and
d CRISIL
These rating
g indicates high
g safety
y with regard
g
to timely
y
payment of interest and principal

HOUSING FINANCE
INDUSTRY SCENARIO

Overall Advances Growth Slows Down For HFCs

Courtesy: CRISIL Credit Rating Report

Banks Outpace HFCs On Growth In Home Loans

Courtesy: CRISIL Credit Rating Report

Asset Quality To Remain Comfortable For HFCs

Courtesy: CRISIL Credit Rating Report

10

10

Profitability To Remain Adequate

Courtesy: CRISIL Credit Rating Report

11

11

GRUH PERFORMANCE

12

12

Compounded Average Growth Rate


(CAGR) as at September 30, 2016
3 Years
(%)

5 Years
(%)

7 Years
(%)

Disbursements

18

25

32

Loan Assets

25

28

28

NIM

23

23

26

Profit After Tax

21

24

29

13

Loan Assets and Gross NPAs to Loans


14000

0.70
0.62
0.62
0 57
0.57

Loan Assets (Rs. in Crore)

0.60

0 58
0.58

0.56

0.52

10000

0.50
12089

8000

6000

0 40
0.40

0.38
0.32

7920

0.30

0.28

4000

0.20

2000

0.10

0.00
Sep-14

Dec-14

Mar-15

Jun-15

Sep-15

14

Dec-15

Mar-16

Jun-16

Sep-16

Gross NPAs to Lo
oans (%)

12000

Provisions & Contingencies


60 00
60.00

56.71
53.90
51.44

50.00

47.23
43 21
43.21
39.11

40.00
(Rs. In Crore)

40.66

36.67

34.97

34.71
29.67

30 00
30.00

24.61

22.50

22.92

20.62

19.45

20.00

16.59
12.95
9.98

16.63
14.46

15.67

12.23

13.65

8.47

10.00

16.06

8.54

0.00
Sep- 14

Dec- 14

Mar- 15

Provision for NPAs

Jun- 15

Sep- 15

Provision for Standarad Assets

15

Dec- 15

Mar- 16

Jun- 16

Provision for Contingencies

Sep- 16

Gross NPAs & Net NPAs


0.70

0.62

0.60

0.62

0.58

0.57

0.56

0.52

0 50
0.50

0.40
0.38
0.32

0.30
0.28

0.27

0.20

0.20
0.15

0.14

0.10

0.09

0.07
0 00
0.00

-0.10

0.29

0 00
0.00
Sept-14

Dec-14

0 00
0.00
Mar-15

Jun-15

Sept-15

Gross NPA to Loans (%)

16

Dec-15

Mar-16

Net NPAs to Loans (%)

Jun-16

Sep-16

NIM & NIE to Average Total Assets


4.50
4.00

4.15

4.15

4.18

4.03

4.03

4.05

4.08
3.93

3.91

3 50
3.50
3.00
2.50
2.00
1.50
1.00
0.50

0.88

0.81

0.76

0.84

0.70

0.80

0.76

0.76

0.65

0.00
Sep- 14

Dec- 14

Mar- 15

Jun- 15

Sep- 15

Net Interest Margin to Average Total Assets(%)

Dec- 15

Mar- 16

Jun- 16

Sep - 16

Non-Interest Expenses to Average Total Assets (%)

17

PBT & PAT to Average Total Assets


4 00
4.00
3.66
3.34

3.50

3.20
3.11

3.19

3 00
3.00

3 15
3.15

2.50

2 00
2.00

3.51

3.29

3.07

2.18
2.11

2.48
2.14

2.21

2.36
2.06

2.07

2.05

1.50

1 00
1.00

0.50

0 00
0.00
Sept- 14

Dec- 14

Mar- 15

Jun- 15

Sept- 15

PAT to Average Total Assets (%)

Dec- 15

Mar- 16

PBT to Average Total Assets (%)

18

Jun - 16

Sep - 16

Cost to Income Ratio (%)


25.00

20.00

17.71
19.22

18.04
19.03

16.65

17.03
18.04

15.00

15.83

15.56

10.00

5.00

0 00
0.00
Sept- 14

Dec- 14

Mar- 15

Jun- 15

Sept- 15

Dec- 15

Cost to Income Ratio (%)

19

Mar- 16

Jun- 16

Sep - 16

Loan Disbursements
(Rs. in Crores)

April Sept.
2016

April Sept.
2015

Growth

A
Amount
t

A
Amount
t

Housing

1474

1201

23

219

339

(35)

NRP Loans

30

36

(16)

Construction

222

175

27

194
1945

1 1
1751

11

Mortgage Loans

Total

20

Outstanding Loans
As at Sept 30, 2016
Amount

As at March 31, 2016

Amount

(Rs. in Crores)

As at Sept 30, 2015

Amount

Individual Housing
Suraksha

6332.64

52.38

5866.96

52.79

5390.6

54.45

Suvidha

3430.49

28.38

3126.54

28.13

2927

29.57

Sajavat

57.66

0.48

45.33

0.41

42.13

0.43

Total Home Loans

9820.79

81.24

9038.83

81.32

8359.7

84.44

Mortgage

1385 18
1385.18

11 46
11.46

1247 30
1247.30

11 22
11.22

818 5
818.5

8 27
8.27

382.00

3.16

394.48

3.55

360.05

3.64

1767.18

14.62

1641.78

14.77

1178.6

11.90

501 16
501.16

4 15
4.15

433 95
433.95

3 90
3.90

361 9
361.9

3 66
3.66

12089.13

100.00

11114.56

100.00

9900.18

100.00

NRP Loans
Other Individual Loans
Construction
Total

21

Loan Portfolio-wise NPL


As at Sept 30,
30 2016

As at March 31,
31 2016

As at Sept 30,
30 2015

Amount

Amount

Amount

Individual Housing

49.46

0.51

23.18

0.26

41.75

0.50

Mortgage

15.43

1.11

9.74

0.78

12.15

1.48

9.68

2.19

2.63

0.59

3.97

0.98

74 57
74.57

0 62
0.62

35 55
35.55

0 32
0.32

57 87
57.87

0 58
0.58

Others

T t l
Total

22

22

Assets Profile
100%

99%

98%

0.00% 0.11%
1.39%

0.00%

0.14%

0.17%

0.15%

1.09%
1.71%

1.12%

1.43%
0.93%

97%

96%

Deffered Tax Assets


Fixed Assets

95%

Current Assets
Investments
Loan Assets

94%

97.38%

97.31%

97.07%

Sept 16

Sept 15

Sept 14

93%

92%

91%

90%

23

Loan Assets Profile


90.00%

82.00% 84.00%

86.00%

80.00%
70.00%
60.00%
50 00%
50.00%
40.00%
30.00%
11.00%

20.00%

8.00%

6.00%
3 00%
3.00%

4 00%
4.00%

5.00%
4 00%
4.00%

4.00%

10.00%
0.00%
HomeLoans Individuals

MortgageLoans
S t 16
Sept16

NRPLoans
S t 15
Sept15

* 95.73% of Loans are on Variable Rates


** Average duration of loan sanction is 208 months

24

S t 14
Sept14

Construction

3.00%

Liability
y Profile
120%
100%

8%

8%

9%

80%
Shareholders'Funds

60%
40%

92%

92%

91%

Sept 16

Sept 15

Sept 14

20%
0%

25

LoanFunds

Sources of Borrowing
g
40%
36%
35%

34%

33%
30%

30%

NHB
29%

29%

BankLoans
PublicDeposits

25%

Others
23%

23%
19%

20%
16%

15%
15%

13%

10%

5%

0%
Sept16

Sept15

26

Sept14

Borrowing Profile
As on Sept. 30, 2016

ROI Base

Tenure Base
34%

22%

Fixed
Floating

78%

66%

ShortTerm(**)

LongTerm(*)

(*) Average tenure 8.87 years


(**) Average tenure less than one year

27

As on Sept. 30,

Balance Sheet

(Rs. in Crores)

2016

2015

Growth (%)

72.78

72.73

0.07

889 56
889.56

741 57
741.57

19 96
19.96

11092.03

9103.35

21.85

313.29

242.52

29.18

65 29
65.29

23 86
23.86

173 64
173.64

12432.95

10184.03

22.08

12089.13

9912.99

21.95

Investments

138.94

145.44

(4.47)

Current Assets

190.84

111.24

71.56

14.04

14.36

(2.23)

12432.95

10184.03

22.08

Sources of Funds
Share Capital
Reserves & Surplus
Borrowings
Current Liabilities & Provisions
Deferred Ta
Tax Liabilit
Liability (Net)

Application of Funds
Loan Assets

Fixed Assets

28

Income Statement
As on Sept. 30,

(Rs. in Crores)
2016

2015

Interest income

693.33

583.84

18.75

Interest expenses

459.24

388.92

18.08

Net interest Margin

234.09

194.92

20.10

Non-Interest Income

20.44

22.34

(8.50)

Non-Interest Expenses

45.27

40.88

10.73

1.48

1.50

(1.33)

21 67
21.67

19 25
19.25

12 57
12.57

0.72

0.53

35.85

185.39

155.10

19.53

63.23

53.08

19.12

122.16

102.02

19.74

Depreciation
Provisions Contingencies and Write Offs
Provisions,
CSR Expenses
Profit Before Tax
Provision for Taxation
Profit After Tax

29

Growth (%)

Risk Profile
Loan Assets & NPAs
As on Sept. 30,

(Rs. in Crores)

2016

2015

12089.13

9912.99

21.95

Provision for Standard Assets (Rs.)

56.71

43.21

31.24

Gross NPAs (Rs.)

74.57

57.87

28.86

Provision for NPAs (Rs.)

16.06

13.65

17.66

Provision for Contingencies

22.92

24.61

(6.85)

Net NPAs (Rs.)

35.59

19.62

81.43

Gross NPA as % to Loans

0 62
0.62

0 58
0.58

5 66
5.66

Net NPA as % to Loans

0.29

0.20

48.77

Loan Assets (Rs.)

Growth (%)

Ratios

30

Quarterly Financial Results


(Rs. In Crore)

As on Sept 30,
Q2-CY

Q2-PY

Q1-CY

YOY CY

YOY PY

1. Operating
p
g Income

367.43

311.81

346.34

1382.97

1167.17

2. Total Income

367.43

311.81

346.34

1382.97

1167.17

3. Interest and Other Charges

235.14

198.74

224.10

877.73

745.28

26.56

24.93

19.40

85.89

70.39

5. Depreciation

0.74

0.72

0.74

3.01

3.25

6. Provisions, Contingencies &


Write
te O
Offss

9.13
9
3

7.17

12.54
5

35
24.35

21.02
0

271.60

231.56

256.78

990.98

839.94

8. Profit Before Tax

95.83

80.25

89.56

391.99

327.23

9 Tax Expenses
9.

33 85
33.85

28 54
28.54

29 38
29.38

128 27
128.27

106 41
106.41

10. Profit After Tax

61.98

51.71

60.18

263.72

220.82

4. Non
Non-interest
interest Expenses

7. Total Expenditure

31

Key Financial Ratios


As on Sept. 30,
2016

2015

2014

Net Interest Margin / ATA (%)

3.93

4.03

4.15

Non Interest Expenses


p
/ ATA ((%))

0 76
0.76

0 84
0.84

0 88
0.88

PBT/ATA (%)

3.11

3.20

3.34

PAT/ATA ((%))

2 05
2.05

2 11
2.11

2 21
2.21

Cost to Income Ratio (%)

18.04

19.03

19.22

ATA = Average Total Assets

32

Key Financial Ratios


As on Sept. 30,

2016

2015

2014

Capital Adequacy Ratio (%)

18.26

15.73

16.71

Tier I

16.65

14.33

15.16

Tier II

1.61

1.40

1.55

33

Productivity Ratios
As on Sept. 30,
2016

2015

2014

A
Average
No.
N off Employees
E l

637

593

545

Average No. of Retail offices

176

160

142

38

34

31

1952

1718

1497

Profit After Tax Per Employee (Rs. In Lakhs)

Total Assets Per Employee ( Rs. in Lakhs)

34

Rural Focus
(Rural location is a location where population is less than 50000.
A state is divided into districts and each District cover 10-15 Talukas and
each Taluka is a cluster of 80-100 villages)

Cumulative Rural Disbursement of Rs. 9,640


,
Cr.
Disbursed 1,90,788 cases in rural segment
Presence in 122 Districts of 10 States
Servicing customers in 1,102 Taluka places in 10 States
Disbursed
Di b
d Rs.7,772
R
2 Cr.
C To
T 1,56,855
1 68
f ili
families
under
d
G ld
Golden
Jubilee Rural Housing Finance Scheme of Government of India
Cumulative disbursement of Rs. 1,895 Cr. To 35,955 families
under Rural Housing Fund

35

Thank You

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