GRUH Finance Limited
Add to watch list to get report alerts
BSE Code:
511288
NSE Code:
GRUH
Business Profile
Business Profile
Gruha Finance (GRUHFIN) is involved in providing housing finance to the rural and semi urban areas. Promoted by HDFC bank (61.52% stake), the company was incorporated on Jul. 21, 1986 as Gujarat Rural Housing Finance Corporation, became a public listed company on Jan. 8, 1993 and got its current name on Aug. 21, 1995.
The company focuses on providing home loans to individuals and families for purchase, construction, extension, repair and renovation of houses with schemes like Suraksha, Sahyog and Sajavat. It provides loans to families for purchase, construction, repair and renovation of non-residential properties like office premises, clinics, shops and nursing homes under its Samruddhi scheme. The company has also introduced personal loans under the Sahyog scheme for its existing home loan customers for other financial needs like education, hospitalization, holiday travel and wedding against the mortgage of residential properties. It offers loans to developers for the construction of housing projects. Multiple option deposit schemes have been made available. The company provides insurance products and has a tie-up with HDFC Standard Life Insurance Company.
Gruha Finance is a N.H.B. approved housing finance company with an extensive network of over 55 retail offices in the state of Gujarat, Maharashtra, Rajasthan, Madhya Pradesh and Karnataka. The loan disbursements till March 31, 2007 were Rs 4742.1 million and the outstanding balance of deposits was Rs 1175.9 million.
The registered office of the company is at GRUH Netaji Marg, Near Mithakali Six Roads, Ellisbridge, Ahmedabad-380006.
Financials
Gruh Finance registered a 57.99% growth in net profit to Rs 50.4 million for the quarter ended June 2007 from a profit of Rs 31.9 million for the quarter ended June 2006.
Net sales rose 54.27% to Rs 439.2 million for the quarter ended June 2007 from Rs 284.7 million for the quarter ended June 2006.
Total income rose 53.80% to Rs 439.7 million for the quarter ended June 2007 from Rs 285.9 million for the quarter ended June 2006.
The earnings per share (EPS), of the company stood at Rs 1.46 for the quarter ended June 2007.