You are here » Home » Companies » Company Overview » GRUH Finance Ltd

GRUH Finance Ltd.

BSE: 511288 Sector: Financials
NSE: GRUH ISIN Code: INE580B01029
BSE LIVE 15:44 | 17 Nov 506.25 2.95
(0.59%)
OPEN

512.00

HIGH

517.85

LOW

501.60

NSE 15:31 | 17 Nov 508.25 3.50
(0.69%)
OPEN

512.00

HIGH

520.00

LOW

502.05

OPEN 512.00
PREVIOUS CLOSE 503.30
VOLUME 15836
52-Week high 551.00
52-Week low 283.00
P/E 57.01
Mkt Cap.(Rs cr) 18,498
Buy Price 0.00
Buy Qty 0.00
Sell Price 506.25
Sell Qty 7.00
OPEN 512.00
CLOSE 503.30
VOLUME 15836
52-Week high 551.00
52-Week low 283.00
P/E 57.01
Mkt Cap.(Rs cr) 18,498
Buy Price 0.00
Buy Qty 0.00
Sell Price 506.25
Sell Qty 7.00

GRUH Finance Ltd. (GRUH) - Company History

Gruh Finance Ltd (formerly known as Gujarat Rural Housing Finance Corporation) was incorporated in 1986 to provide financial services mainly for rural housing, construction/upgradation of dwelling units, and to developers. The company came out with an FCD issue in 1994-95, which was oversubscribed. Keeping in view the competitive environment and the emerging challenges, the company has introduced new loan products like site finance and loans for non-residential premises. It also plans to finance land development projects. The company received a rating of "MA+" (1999-2000) for its fixed deposit programme from Investment Information & Credit Rating Agency of India. To focus on poorer households in rural and semi-urban areas, the company decided to set up Gruh Foundation. Also, during the year 1999-2000, GRUH opened four new retail office in Amravati, Chandrapur, Modasa and Palanpur and three service centres - one in Pune and two in Surat and hence total retail network now consists of 28 offices - 17 in Gujarat and 11 in Maharashtra. Due to the stiff competition, the company has introduced three-tier pricing strategy linked to the duration of the loan. The company was the first HFC to re-introduce the 20 year home loan product in the market. During the year 2000-01, Housing Development Finance Corporation Ltd., (HDFC) the largest shareholder of the company acquired 68,90,000 equity shares from Gujarat Ambuja Cements Ltd.,(GACL) in July 2000. As a result, HDFC's shareholding in GRUH currently stands 54.49% and therefore it is a subsidiary of HDFC. Under the Golden Jubilee Rural Housing Finance Scheme of the Government of India, GRUH has financed 4,891 dwelling units registering a growth of 35% over the previous year.