Gruh Finance

Home loan financer & 58.64% subsidiary of HDFC Ltd., Gruh Finance reported a healthy 24% YoY growth in loan assets to Rs. 11,544 crore with income from operations at Rs. 350 crore, up 18% (YoY). It ended Q1Fy17 with a net profit at Rs.60 crore, up 20% (YoY).

Its provisions, contingencies and write-offs remained steady at Rs.12.54 crore v/s Rs.12 crore in previous Q1 at Rs.12 crore but sequentially, it has doubled up from Rs.6 crore.

Gross NPA and net NPA stand at 0.56% and 0.27% respectively, as of 30-06-16, which is again within comfortable limits. The company continues to command premium valuations given its consistent financials and HDFC’s parentage.