News About Gruh Finance Limited Home Loan

• 20% growth in profits for Gruh Finance in Q1

  Gruh Finance Limited recorded a profit of 20% (Rs.72 crore) for the quarter that ended in June, 2017. During the same quarter last year, Gruh Finance Limited recorded profits of Rs.60 crore. This year’s result clearly showed the year on year basis growth of 20%. The net interest margins of the company went upto 151 crore, improving by 33%. For the same quarter last year, the growth stood at Rs. 114 crore.

  The company mentioned that the non-performing assets at present stands at Rs.87.25 crore and the NPAs stand at Rs.21.51 crore.

  

  26th July 2017

• Now is the right time to purchase property

  According to Sudin Choksey, the Managing Director of Gruh Finance, now the market conditions are ideal to buy property. The interest rates have come down for home loans, therefore, customers may be induced to purchase property. As the Government of India is focused on providing affordable housing for all, the market's focus is also on housing companies. As the supply for affordable housing will take almost 2 years, the home loan growth will also pick up slowly.

  Post-budget revelations, the market condition for private housing developers is looking positive. Gruh Finance focuses on pure housing loans, however, there has been a decline in the last few years. In FY17, the loan asset growth has reduced to 19%. Sudin Choksey believes that in the next 2 to 3 years, there will be a rise in loan asset growth. According to him, the Real Estate Regulatory Authority (RERA) won't cause any pressure on the quality of credit loans. Gruh Finance has restrained the loan against property at 11% compared to the 20-25% for major players. The pure home loan business is at 80-85%.

  

  30th May 2017

• The best time to cash in on Gruh Finance

  Ever since the landmark announcement of 50 percent reduction in the repo rate by RBI, housing loans offered by various banks have predictable become cheaper. But more than a dip in the home loan rates, which can only cause a surge in affordability to a certain extent, it is the central bank’s bid to bring down potential risk weights that have lighted spark of hope in current EMI payers. Companies like Gruh Finance are ideally placed to deflect rivalry from banks and other financiers.

  Gruh Finance, a branch of Housing Development Finance Corporation (HDFC), is one of the innovators in the rural housing finance sector, offering house loans to financially backward and those with lesser income in rural and semi-urban. This step of RBI will provide a boost to the central government’s emphasis on the reasonably priced real estate arena through its ‘Housing for all by 2022’ policy. The firm has already announced a yearly net growth of 29 percent in the last ten years and 20 percent in the previous quarter alone.

  

  12th October 2015