Gruh Finance

Home loan financer & 58.64% subsidiary of HDFC Ltd., Gruh Finance reported a healthy 25% YoY growth in loan assets to Rs. 8393 crore with income from operations at Rs. 323 crore, up 19%. It ended the quarter with a net profit at Rs.54 crore, up 20% (YoY).

Its bad debts stood at Rs.18 lakh compared to Rs.12 lakh in Q2 and Rs.4 lakh in previous Q3. Provisions have increased to Rs.18 crore, up from Rs.7 crore in Q2 and Rs.14 crore in Q3FY15. Its 9MFY16 provisions stood at Rs.36 crore v/s Rs.30 crore (YoY).

Gross NPA and net NPA stand at 0.62% and 0.14% respectively, as of 31-12-15, which is again within comfortable limits. The company continues to command premium valuations given its consistent financials and HDFC’s parentage.