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GRUH Finance Ltd.

BSE: 511288 Sector: Financials
NSE: GRUH ISIN Code: INE580B01029
BSE 00:00 | 18 Jul 327.55 4.15
(1.28%)
OPEN

331.20

HIGH

334.45

LOW

325.00

NSE 00:00 | 18 Jul 327.75 3.85
(1.19%)
OPEN

330.00

HIGH

334.95

LOW

325.05

OPEN 331.20
PREVIOUS CLOSE 323.40
VOLUME 34532
52-Week high 381.95
52-Week low 226.00
P/E 66.04
Mkt Cap.(Rs cr) 23,959
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 331.20
CLOSE 323.40
VOLUME 34532
52-Week high 381.95
52-Week low 226.00
P/E 66.04
Mkt Cap.(Rs cr) 23,959
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

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. GRUH Finance is a subsidiary of HDFC Ltd - the pioneer in housing finance in India. As on 31 March 2018 GRUH Finance had retail network of 194 offices across 11 states and one union territory. GRUH Finance commenced operations from Ahmedabad Gujarat in January 1988. 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 offices in Amravati Chandrapur Modasa and Palanpur and three service centres - one in Pune and two in Surat. 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 6890000 equity shares from Gujarat Ambuja Cements Ltd.(GACL) in July 2000. As a result GRUH Finance became a subsidiary of HDFC.During the financial year 2011-12 GRUH Finance's loan disbursements rose to Rs 1486.52 crore as against Rs 1210.69 crores in the previous year. The company disbursed Rs 528.03 crore in respect of 10126 dwelling units during the year under the Golden Jubilee Rural Housing Finance Scheme of the Government of India.During the financial year 2012-13 GRUH Finance's loan disbursements rose to Rs 2174.39 crore as against Rs 1486.52 crore in the previous year. The company disbursed Rs 724.96 crore in respect of 12094 dwelling units during the year under the Golden Jubilee Rural Housing Finance Scheme of the Government of India.The Board of Directors of GRUH Finance at its meeting held on 24 April 2012 approved sub-division of the nominal value of the equity shares of the company from Rs 10 each to the nominal value of Rs 2 each subject to the approval of the shareholders at the 26th Annual General Meeting (AGM) of the company.During the financial year 2013-14 GRUH Finance's loan disbursements rose to Rs 2577.47 crore as against Rs 2174.39 crore in the previous year. The company continued to focus mainly on the retail segment and disbursed Rs 2375.10 crore to 31555 families.The Board of Directors of GRUH Finance at its meeting held on 11 April 2014 approved the issue of Bonus shares in the ratio of 1:1.During the financial year 2014-15 GRUH Finance's loan disbursements rose to Rs 3120.87 crore as against Rs 2577.47 crore in the previous year. The company disbursed Rs 1296.14 crore in respect of 18719 dwelling units during the year under the Golden Jubilee Rural Housing Finance Scheme of the Government of India. During the financial year 2015-16 GRUH Finance's loan disbursements rose to Rs 3856.58 crore as against Rs 3120.87 crore in the previous year. The company disbursed Rs 1615.72 crore in respect of 22208 loans during the year under the Golden Jubilee Rural Housing Finance Scheme of the Government of India.During the financial year 2016-17 GRUH Finance's loan disbursements rose to Rs 4125 crore as against Rs 3857 crore in the previous year. During the year GRUH raised NCDs amounting to Rs 1940 crore on a private placement basis. The company mobilised deposits of Rs 521 crore and experienced a renewal ratio of 42.89% during the year.During the financial year 2017-18 GRUH Finance's loan disbursements rose to Rs 5259 crores as against Rs 4125 crores in the previous year. GRUH continued to focus mainly on the retail segment and disbursed Rs 4645 crore to 50137 families. Cumulative disbursements as on 31 March 2018 were Rs 28456 crore. During the year GRUH Finance raised NCDs amounting to Rs 2060 crores on a private placement basis. The company mobilised deposits of Rs 477 crore and experienced a renewal ratio of 50.71% during the year. The Board of Directors of GRUH Finance at its meeting held on 14 April 2018 recommended the issue of bonus shares in the ratio of 1:1.