GRUH Finance Limited

(A Subsidiary of HDFC Limited)

MARCH 2016

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
b idi off Reserve
R
B k off India
Bank
I di (RBI)
Recognized by NHB for Refinance facility

Profile
As on March 31, 2016

Cumulative Housing Units Financed 3,30,243

Cumulative Disbursement of Rs. 19,072 Cr.
Average Loan Per Unit on Cumulative Disbursement Rs.7.39 Lac
Cumulative Disbursement in Rural Areas(*) Rs.8692 Cr.
Retail Network of 179 offices across 10 States.
Consistent track record of Dividend Payout
(*)

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

Profile
As on March 31
31, 2016

Outstanding LoanAssets of Rs. 11,115 Cr.

Average Loan Outstanding Per Unit Rs. 6.38 Lac
Loan Disbursement during the year Rs. 3,857 Cr.
Average Loan Per Unit on Disbursement during the yearRs. 8.86 Lac
Loan Disbursement in RuralAreas during the year Rs. 2,135 Cr. ( 55%)
Gross NPAs Rs. 35.55 Cr 0.32% of Outstanding LoanAssets of Rs. 11,115 Cr.
Net NPAs Rs. 10.38 Cr ( 0.09%)

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

GRUH is a Trend-Setter
First to commence Lending in Rural Areas 1988
First to introduce Tenure Based Pricing 1997
First to target Self
Self-Employed
Employed Category in informal segment
- 2002
First
Fi t to
t introduce
i t d
N
Negative
ti Amortized
A
ti d Loan
L
P d t 2002
Product
First to introduce Risk Based Pricing 2005
- Pricing linked to Credit Score

Share Holding
g Pattern
As on March 31, 2016

Individuals
19.05%

FI, MF & Banks

4.16%

Corporate Bodies
2.23%
FII's
12 91%
12.91%
NRIs/OCBs
3.06%

HDFC
58.59%

GRUHS Presence
Retail Offices
FY

No.ofRetailOffices
AsonMarch 31,2016

Nos.

2010

- 95

2013

- 134

2015

- 154

2016

- 179

Ra ja s than,12

Jha rkha nd,

1
Ta mi l Na du,10
Utta rPra des h,3
Bi ha r,1

Guja ra t,46

Chha tti s garh,13

Ka rna ta ka,17

Districts covered - 121

Taluka serviced - 1107
Ma ha ra shtra,49

Ma dhya Pra des h,

27

Compounded Average Growth Rate

(CAGR) as at March 31, 2016
3 Years
(%)

5 Years
(%)

7 Years
(%)

10 Years
(%)

Disbursements

21

26

29

27

Loan Assets

27

28

27

26

NIM

25

24

26

28

Profit After Tax

19

22

25

27

Assets Profile
100%

0.00% 0.13%

0.00% 0.16%

99%

1.49%

1.75%

98%

1.25%

0.24% 0.15%
1.96%

0.87%

0.73%

97%
96%

Deffered Tax Assets

Fixed Assets

95%

Current Assets
Investments

94%

97.13%

97.22%

96.92%

Mar 16

Mar 15

Mar 14

93%
92%
91%
90%

10

Loan Assets

Loan Assets Profile

100%

3.91%

3.84%

90%

3.59%

4.17%

2.97%

4.88%

80%
70%
60%
50%
40%

DeveloperLoans
p
92.25%

92.24%

92.15%

NRPLoans Individuals
HomeLoans Individuals

30%
20%
10%
0%

Mar16
Mar
16

Mar15
Mar
15

Mar14
Mar
14

* 91.73% of Loans are on Variable Rates

** Average duration of loan sanction is 198.88 months

11

Liability
y Profile
120%
100%

8%

8%

9%

80%
Shareholders'Funds

60%
40%

92%

92%

91%

Mar 16

Mar 15

Mar 14

20%
0%

12

LoanFunds

Sources of Borrowing
g
50%
46%
45%
40%

39%

38%
34%

35%

NHB

33%

BankLoans

30%

PublicDeposits

30%

Others
25%
20%
16%

17%

16%

14%

15%

9%

10%

8%

5%
0%
Mar16

Mar15

13

Mar14

Borrowing Profile
As on March 31, 2016

ROI Base

Tenure Base
1%

52%

Fixed
Floating
48%
99%

ShortTerm(**)

LongTerm(*)

(*) Average tenure 8.79 years

(**) Average tenure less than one year

14

Quarterly Financial Results

As on March 31,

(Rs. In Crore)
Q4-CY

Q4-PY

Q3-CY

YOY CY

YOY PY

1 Operating Income
1.

366 91
366.91

304 99
304.99

323 55
323.55

1275 40
1275.40

1060 32
1060.32

2. Interest and Other Charges

215.09

182.74

203.40

807.41

677.73

20.14

14.09

19.76

81.33

62.74

4. Depreciation

0.80

0.96

0.73

3.03

1.29

5. Provisions, Contingencies &

Write Offs

6.10

2.31

17.84

21.93

17.72

6. Total Expenditure

242.13

200.10

241.73

913.70

759.48

7. Profit Before Tax

124.78

104.89

81.82

361.70

300.84

8 Tax Expenses
8.

36 96
36.96

30 83
30.83

28 08
28.08

118 12
118.12

97 04
97.04

9. Profit After Tax

87.82

74.06

53.74

243.58

203.80

3. Non-interest Expenses

15

Income Statement
As on March 31,

(Rs. in Crores)
2016

2015

1228.58

1021.39

20

Interest expenses

807.41

677.73

19

Net interest Margin

421.17

343.66

23

N I t
Non-Interest
t Income
I

46 81
46.81

38 92
38.92

20

Non-Interest Expenses

81.32

62.73

26

3.03

1.29

135

21.93

17.72

24

Profit Before Tax

361.70

300.84

20

Provision for Taxation

118 12
118.12

97 04
97.04

22

Profit After Tax

243.58

203.80

20

Interest income

Depreciation
Provisions, Contingencies & Write Offs

16

Growth (%)

Operating Income
As on March 31,

(Rs. in Crores)
2016

2015

1207.52

1007.00

20

20.32

14.05

44

0.74

0.34

18

1228.58

1021.39

20

41.05

33.10

24

Bad Debt Recovery

0.18

0.37

(51)

Other Operating Income

5.58

5.45

46.81

38.92

20

Interest on Loans
Interest on Fixed Deposits and SLR
Investments etc.
Surplus from deployment in Cash Management
Schemes/Dividends on Mutual Funds
Interest Income
Fees and Other Charges

Non-Interest Income

17

Growth (%)

As on March 31,

Balance Sheet

(Rs. in Crores)

2016

2015

Growth (%)

72.74

72.68

762.56

638.82

19

10244.40

8215.58

25

304.37

234.90

30

58.55

18.77

212

11442.62

9180.75

25

11114.56

8926.48

25

Investments

142.92

79.81

79

Current Assets

170 58
170.58

160 74
160.74

14.56

13.72

11442.62

9180.75

25

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

Application of Funds
Loan Assets

Fixed Assets

18

Composition of
Outstanding Loans
(Rs. in Crores)

As At
A
March 31,
2016

ComposC
ition

Amount

As At
A
March 31,
2015

ComposC
ition

Amount

G
Growth
th

Individuals
Housing
NRP Loans

10253 51
10253.51

92 25
92.25

8233 76
8233.76

92 24
92.24

24 53
24.53

427.10

3.84

371.97

4.17

14.82

433.95

3.91

320.75

3.59

35.30

11114.56

100.00

8926.48

100.00

24.51

Developers
Construction
Total

19

Risk Profile
Loan Assets & NPAs
As on March 31,

(Rs. in Crores)

2016

2015

2014

Loan Assets (Rs.)

11115

8926

7020

Provision for Standard Assets (Rs.)

51.44

39.11

30.82

Gross NPAs (Rs.)

35.55

25.05

18.87

8.54

8.47

7.60

Provision for Contingencies

16.63

16.58

12.04

Net NPAs (Rs.)

10.38

0.00

0.00

Gross NPA as % to Loans

0 32
0.32

0 28
0.28

0 27
0.27

Net NPA as % to Loans

0.09

0.00

0.00

Provision for NPAs (Rs.)

Ratios

20

Gross NPAs & Net NPAs

0.60

0.50

0.52

0.40
0.32
0.32

0.30
0 27
0.27

0 28
0.28

0.20

0.10

0.09

0 05
0.05
0.00
0.00
Mar-12

Mar-13

0.00
Mar-14

0.00
Mar-15

-0.10
Gross NPA to Loans (%)

Net NPAs to Loans (%)

21

Mar-16

Provisions & Contingencies

55 00
55.00

51.44
47.23
43.21

45.00
40.66

39 11
39.11
36.63
35.00
(Rs. In Crore)

34.97

34.71
30.82

32.23
29.72

25.00

24 61
24.61

22.50
20.62

19.47

16.59
15.00

12.04
10 16
10.16

12.95

16.63

15.67
13.65

12.23

9 98
9.98

7.60

8.54

8.47

5.00

Mar - 14
Mar.

Jun - 14
Jun.

Sep - 14
Sep.

Dec - 14
Dec.

Mar - 15
Mar.

Jun - 15
Jun.

Sep - 15
Sep.

Dec - 15
Dec.

-5.00
Provision for NPAs

Provision for Standarad Assets

22

Provision for Contingencies

Mar - 16
Mar.

NIM & NIE to Average Total Assets

5.00
4.50
4.64
4 38
4.38

4 00
4.00

4.21

4.18
4.08

3.50
3.00
2.50
2.00
1.50
1.00
0.50

0.95

0.89
0.83

0.76

0.76

0.00
Mar-12

Mar-13

Mar-14

Net Interest Margin to Average Total Assets(%)

Mar-15

Mar-16

Non-Interest Expenses to Average Total Assets (%)

23

PBT & PAT to Average Total Assets

4.50
4.00

3.66

3.81

3.51
3.50

3.31

3 34
3.34

3.20

3.29
3.00
2.50

3.19

3.15

2.48
2.76

2.26
2.21

2.00

2.36
2.18

2.14

2.07

2.11

1.50
1.00
0.50
0 00
0.00
Mar. - 14

Jun. - 14

Sep. - 14

Dec. - 14

Mar. - 15

PAT to Average Total Assets (%)

Jun. - 15

Sep. - 15

Dec. - 15

PBT to Average Total Assets (%)

24

Mar. - 16

Cost to Income Ratio (%)

25.00

19.22

20.00

18 04
18.04

17.03
19.03
17.71

17.87

17.03
15.82

16.65

15.00

10.00

5.00

0 00
0.00
Mar. - 14

Jun. - 14

Sep. - 14

Dec. - 14

Mar. - 15

Jun. - 15

Cost to Income Ratio (%)

25

Sep. - 15

Dec. - 15

Mar. - 16

Key Financial Ratios

As on March 31,
2016

2015

2014

Net Interest Margin / ATA (%)

4.08

4.18

4.21

Non Interest Expenses / ATA (%)

0.76

0.76

0.83

PBT/ATA (%)

3.51

3.66

3.81

PAT/ATA (%)

2.36

2.48

2.76

Cost to Income Ratio (%)

17.03

16.65

17.87

ATA = Average Total Assets

26

Key Financial Ratios

As on March 31,

2016

2015

2014

Capital Adequacy Ratio (%)

17.82

15.36

16.36

Tier I

16.13

13.89

14.70

Tier II
II

1 69
1.69

1 47
1.47

1 66
1.66

27

Productivity Ratios
As on March 31,
2016

2015

2014

Average No. of Employees

618

567

532

Average No. of Retail offices

167

148

138

59

53

46

1852

1621

1363

Profit Before Tax Per Employee ( Rs. in Lakhs)

Total Assets Per Employee ( Rs. in Lakhs)

28

Customer Segments
As on March 31,
31 2016

Self Employed
18.31%

In Employment
59.96%

Businessmen
20 41%
20.41%

Professionals
1.32%

29

Profile of Customers
As on March 31,
No. of Incremental Loans
N off Li
No.
Live A
Accounts
t
Average Loan Disbursed per unit (Rs. In lac)

2016

2015

2014

40084

34608

31555

174115 151645

131211

8.86

8.39

7.64

14 97
14.97

14 26
14.26

13 97
13.97

p to Rs. 5 Lakhs
a)) up

12 71
12.71

13 55
13.55

17 22
17.22

b) more than 5 Lakhs up to 10 Lakhs

36.19

34.59

37.10

c) more than 10 Lakhs up to 30 Lakhs

40.56

34.64

32.02

d) more than 30 Lakhs

10.54

17.22

13.65

Average Cost per dwelling unit (Rs

(Rs. In lac)
Loan amount wise break up (%)

30

Profile of Customers
As on March 31,

2016

2015

2014

a) Population is less than 50,000

56.94

54.90

47.91

b) Population is more than 50

50,000
000

43 06
43.06

45 10
45.10

52 09
52.09

67

64

65

43510

34635

39473

Average Installment to Income Ratio

30

30

33

Average Fixed Obligation Ratio

37

37

40

L
Loans
extended
t d d iin areas(%)
(%)

Average Loan to Value Ratio

Average Income of the Borrower

31

T
Types
off Properties
P
ti Financed
Fi
d
Period Ending
March 31, 2016
Cases
Row House / Tenements /
Bungalows
Fl t
Flats
Others
Total

Period Ending
March 31, 2015
Cases

116732

67.09

102128

67.42

56013

32 19
32.19

48216

31 83
31.83

1250

0.72

1133

0.75

173995

100 00
100.00

151477

100

32

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.8,692

,
Cr.
Disbursed 1,79,367 cases in rural segment
Presence in 121Districts of 10 States
Servicing customers in 1,107 Taluka places in 10 States
Disbursed
Di b
d Rs.
R 17,177
1 1
C To
Cr.
T 3,20,969
3 20 969 families
f ili
under
d Golden
G ld
Jubilee Rural Housing Finance Scheme of Government of India
Cumulative disbursement of Rs.1,688 Cr. To 33,678 families
under Rural Housing Fund

33

Thank You

34