Statement of Audited Financial Results For The Quarter / Year Ended March 31, 2017

( in crore )

# Not annualised for the quarters

NOTES :

The Classification of Assets and Liabilities into Current and Non-Current is carried out based on their residual maturity profile as per the requirement of Schedule III to the Companies Act, 2013.

The estimates and assumptions regarding prepayments and renewals as prescribed by the National Housing Bank (NHB) (which are taken into account for ALM purpose) are not considered while classifying the assets and liabilities into current and non-current.

• The Company’s main business is to provide loans for purchase or construction of residential houses. All other activities of the Company revolve around the main business. As such, there are no separate reportable segments as per the Accounting Standard on Segment Reporting (AS 17).
• Loan Assets have increased from 11,115 crores as on March 31, 2016 to 13,244 crores as on March 31, 2017 registering a growth of 19%.
• The aggregate NPAs of the Company are 0.31% of the Loan Assets without taking into account relaxation given by NHB vide circular number NHB(ND)/DRS/Policy circular No. 77/2016-17 dated November 21, 2016 as against 0.32% of the Loan Assets as on March 31, 2016. The Net NPAs of the Company are Nil as against 0.09% as on March 31, 2016.
• During the quarter ended March 31, 2017, the Company has allotted 6,33,706 equity shares of 2 each pursuant to the exercise of the stock options by employees and directors.
• Vide circular NHB(ND)/DRS/Policy Circular 65/2014-15 dated August 22, 2014, the National Housing Bank (“NHB”) had directed Housing Finance Companies (HFCs) to provide for a deferred tax liability in respect of amount transferred to “Special Reserve” created under section 36(1)(viii) of the Income Tax Act, 1961. As per above circular, NHB had advised HFCs to create deferred tax liability in respect of accumulated balance of Special Reserve as on April 1, 2014 from the reserves over a period of 3 years starting with financial year 2014-15, in a phased manner in the ratio of 25:25:50. Accordingly, the Company has adjusted third and final tranche of 50% in free Reserves as at April 1, 2016 by 39.09 crores ( 39.09 crores created during previous two years) of deferred tax liability on Special Reserve balance as at April 1, 2014.

  Company has charged its Statement of Profit & Loss for the year ended March 31, 2017 by 29.07 crores (Previous year 24.17 crores) with the deferred tax liability on additional amount appropriated towards Special Reserve out of current year’s profits. This amount is reflected under the head “Tax Expenses”.

• During the period under review, there are no transactions in the nature of exceptional or extraordinary items.
• Audited Statement showing Assets and Liabilities :

  ( in crores)

  Particulars	As At March 31,
  	2017	2016
  Equity and Liabilities
  Shareholders’ Funds
  Share Capital	72.91	72.74
  Reserves and Surplus	1,040.30	762.56
  	1,113.21	835.30
  Non-Current Liabilities
  Long-Term Borrowings	10,491.96	8,628.11
  Deferred Tax Liability (Net)	122.99	58.55
  Other Long – Term Liabilities	65.43	69.64
  Long-Term Provisions	106.85	79.20
  	10,787.23	8,835.50
  Current Liabilities
  Short-Term Borrowings	22.99	23.89
  Trade Payables	2.19	1.18
  Other Current Liabilities	1,657.19	1,643.47
  Short-Term Provisions	3.13	103.26
  	1,685.50	1,771.80
  	13,585.94	11,442.60
  Assets
  Non-Current Assets
  Property, Plant & Equipment	13.12	13.83
  Intangible Assets	0.58	0.73
  Non-Current Investments	158.09	32.95
  Long-Term Loans and Advances
  Loans     Others	12,431.44 36.24	10,497.33 40.26
  Other Non-Current Assets	33.00	28.09
  	12,672.47	10,613.19
  Current Assets
  Current Investments	0.00	109.97
  Cash and Bank Balances	38.65	57.56
  Short-Term Loans and Advances	54.20	37.33
  Other Current Assets
  Loans     Others	812.88 7.74	617.22 7.33
  	913.47	829.41
  	13,585.94	11,442.60

• The Board of Directors have recommended a dividend of 2.80 Per Share of face value of 2 each. The dividend recommended will also be applicable for the full year in respect of Equity Shares issued during the year.
• The Central Government in consultation with National Advisory Committee of Accounting Standards vide notification dated March 30, 2016 and circular number 04/2016 dated April 27, 2016 had amended Companies (Accounting Standards) Rules, 2006 (`principal rules’) effective FY 1617. According to the amended rules, the proposed dividend mentioned in note 8 above is not be recorded as a liability as at March 31, 2017. (Refer Para 8.5 of AS – 4 Contingencies and Events occurring after Balance Sheet date). Accordingly, the proposed dividend of 102.08 crores and Tax thereon of 20.78 crores are not recognised as liability in annual accounts of FY 1617. However, the same will be recognized as liability on approval of shareholders at ensuing Annual General Meeting.
• Figures of the quarter ended March 31, 2017 and March 31, 2016 are the balancing figures between audited figures in respect of the full financial year and published year to date figures up to the third quarter of the relevant financial year.
• Previous period/year figures have been regrouped and reclassified, where necessary, to make them comparable with current period figures.

The above audited results were reviewed and recommended by the Audit Committee of Directors and subsequently approved by the Board of Directors at its meeting held on April 17, 2017. The statutory auditors have expressed an unqualified audit opinion.