GRUH Finance Ltd.    
16 Oct 2019
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GRUH Finance Ltd.    
07 Jan 2019
Motilal Oswal
7 January 2019 Post amalgamation, Bandhan will have strong presence in the affordable housing segment. This will also help Bandhan to increase its reach in the western region. Promoter shareholding of Bandhan will fall to 61% v/s 82.3% as of now. This will take Bandhan a step closer to fulfil the 40% promoter shareholding requirement. The biggest advantage for GRHF is access to a stable source of funding and ability to expand its presence in the eastern region on the back of Bandhans branch network. HDFC Ltd will become the largest shareholder (Post Promoter) of Bandhan with ~15% shareholding. According to regulations, HDFC Ltd can a maximum hold 9.9% in any banking entity, subject to regulatory approval, and hence, we expect at least ~5% stake sale in future from HDFC Ltd in Bandhan (~INR40b based on combined MCAP of INR806b).
GRUH Finance Ltd.    
31 Dec 2018
Geojit BNP Paribas
GRUH primarily provides home loans to individuals and families, especially in the lower-income group in the rural and semi-urban areas, for purchase, construction, extension, repair and renovation. NII increased at a modest pace of 9% YoY in Q2FY19 mainly due to 27 bps Asset quality continues to remain broadly stable as Gross NPA ratio increased marginally by 2 bps QoQ (21 bps YoY) to 0.9% as of Q2FY19. We project Gross/Net NPA ratios at 1.0%/0.5% by FY20E. Though we like GRUH in the HFCs space, the current stock price has...
GRUH Finance Ltd.    
06 Nov 2018
Motilal Oswal
6 November 2018 GRUH Finance (GRHF) reported 2QFY19 PAT of INR1.06b, up 20% YoY (8% miss compared to our estimate of INR1.14b). While net interest income was largely in line, higher-than-expected operating expenses drove the PAT miss. Disbursements for the quarter picked up smartly on a QoQ basis from INR12b to INR15b. Annualized repayment rate, too, has moderated from 25% in 2QFY18 to 21% this quarter. Loan growth was in line with prior quarters at 4% QoQ/ 17% YoY. The company continues to slow down on LAP growth in LAP has been sub- 10% YoY for the second consecutive quarter. Borrowings grew 14% QoQ in order to maintain liquidity on the balance sheet. CoF for the quarter was up only 10bp sequentially to 7.5%. It has been range-bound at 7.4-7.6% for the past 5-6 quarters.
GRUH Finance Ltd.    
30 Oct 2018
HDFC Securities
GRUH Finance Ltd Q2FY19 results Comment Operating Income grew by 6.27% to Rs. 480.54 Cr in Q2FY19 when compared to the previous quarter. Also, it rose by 15.45% when compared with Q2FY18.
GRUH Finance Ltd.    
27 Jul 2018
HDFC Securities
Operating Income fell by 6.63% to Rs. 452.19 Cr in Q1FY19 when compared to the previous quarter. GRUH Finance Ltd Q1FY19 results Comment
GRUH Finance Ltd.    
17 Apr 2018
HDFC Securities
GRUH Finance Ltd Q4FY18 results comment Operating Income increased by 13.03% to Rs. 484.31 Cr in Q4FY18 when compared to the previous quarter.
GRUH Finance Ltd.    
17 Apr 2018
Motilal Oswal
GRUH Finance (GRHF) reported strong 4QFY18 results, with continued high-teens loan growth, an improvement in margins and lower-than-expected operating expenses. However, higher tax expenses drove in-line PAT. Disbursements were up 20% YoY to INR15.1b for the quarter and up 28% YoY for the full year. Disbursement growth in the quarter was driven by home loans (+24% YoY) and developer loans (+33% YoY). Loan growth came in at 18% YoY/5% QoQ. The loan book stands at INR156b.Growth in the LAP book continues to decline (+13% YoY), while the NRP loan book continues to de-grow (-9% YoY).
GRUH Finance Ltd.    
01 Mar 2018
Geojit Research
GRUH primarily provides home loans to individuals and families, especially in the lower-income group in the rural and semi-urban areas, for purchase, construction, extension, repair and renovation....
GRUH Finance Ltd.    
23 Jan 2018, 04:01PM
HDFC Securities
GRUH Finance Ltd Q3FY18 results comment Operating Income grew by 3.48% to Rs. 428.47 Cr in Q3FY18 when compared to the previous quarter.
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