For FY 14 Gruh Finance net rises 21%
For the year 2013-14, Gruh Finance Ltd, a housing finance arm of HDFC registered a 21 per cent jump in the net profit.
For the year 2013-14, Gruh Finance Ltd, a housing finance arm of HDFC registered a 21 per cent jump in the net profit. In 2013-14 the company’s profit after tax increased from Rs 146 crore to Rs 177 crore.
A dividend of Rs. 3 per equity share as against Rs 2.50 per share in the previous year has been recommended by the Board of Directors. The issue of bonus shares in the ratio of 1:1 was also recommended by the board.
As on March 31, 2014 Gruh Finance’s loan portfolio stood at Rs 7,009 crores as against Rs 5,438 crores in the previous year, up 29 per cent.
As on March 31, 2014 the gross non-performing assets (NPAs) stood at Rs 18.87 crore, which is 0.27 per cent of the total outstanding loan. Indicating a growth of 54 per cent the company’s deposits have grown from Rs 650 crore during previous year to Rs 1,003 crore last year.
Source: The Hindu Business Line
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