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