Statement of Audited Financial Results for the Quarter/ Nine Months Ended December 31, 2014

( in crore )

Particulars	Quarter ended Dec 31, 2014	Quarter ended Sept 30, 2014	Quarter ended Dec 31, 2013	Nine Months ended Dec 31, 2014	Nine Months ended Dec 31, 2013	Year ended March 31, 2014
Particulars	Un-Audited					Audited
Income from Operations :
a) Revenue from Operations	271.11	257.73	217.39	770.45	610.49	845.69
b) Other Income	0.00	0.00	0.00	0.01	0.50	0.47
Total Income	271.11	257.73	217.39	770.46	610.99	846.16
Expenditure :
a) Finance Cost	173.62	166.45	140.88	494.99	395.70	543.63
b) Employee Benefit Expenses	8.16	12.99	7.96	29.01	25.77	31.73
c) Other Expenses	6.71	6.23	5.36	19.64	15.54	21.46
d) Depreciation	0.79	0.80	0.69	0.33	1.81	2.45
e) Provision for Contingencies/ Bad Debts Written off	14.59	4.07	6.78	30.54	20.91	2.43
Total Expenditure	203.87	190.54	161.67	574.51	459.73	601.70
Profit Before Tax	67.24	67.19	55.72	195.95	151.26	244.46
Tax Expenses	17.40	19.43	20.48	52.21	47.90	67.50
Net Profit before adjustment of Deferred Tax on Special Reserve	49.84	47.76	35.24	143.74	103.36	176.96
DTL on Special Reserve	5.10	4.67	0.00	14.00	0.00	0.00
Net Profit After Tax	44.74	43.09	35.24	129.74	103.36	176.96
Earnings per Share (of 2 each) – Basic ()	1.232	1.192	0.981	3.584	2.882	4.930
– Diluted ()	1.232	1.190	0.979	3.580	2.876	4.896
Paid-up Equity Share Capital (Face Value of 2)	72.68	72.61	35.95	72.68	35.95	36.03
Reserves and Surplus						571.21

Part – II Selected information for the Quarter / Nine Months ended December 31, 2014

A. Particulars of Share Holding	Quarter ended Dec 31, 2014	Quarter ended Sep 30, 2014	Quarter ended Dec 31, 2013	Nine Months ended Dec 31, 2014	Nine Months ended Dec 31, 2013	Year ended Mar 31, 2014
Public Shareholding
– No. of Shares	150299500	149982730	146447320	150299500	146447320	147184450
– Percentage of Shareholding	41.36	41.31	40.73	41.36	40.73	40.85
Promoter and Promoter Group Shareholding
a) Pledged / Encumbered
– No. of Shares	Nil	Nil	Nil	Nil	Nil	Nil
– Percentage of Shares (as a % of thetotal Shareholding of Promoter andPromoter group)	Nil	Nil	Nil	Nil	Nil	Nil
– Percentage of Shares (as a % of thetotal Share Capital of the Company)	Nil	Nil	Nil	Nil	Nil	Nil
b) Non – Encumbered
– No. of Shares	213077850	213077850	213077850	213077850	213077850	213077850
– Percentage of Shares (as a % of thetotal Shareholding of Promoter andPromoter group)	100	100	100	100	100	100
– Percentage of Shares (as a % of thetotal Share Capital of the Company)	58.64	58.69	59.27	58.64	59.27	59.15

B. Investor Complaints						Quarter ended Dec 31, 2014
Pending at the beginning of the quarter						Nil
Received during the quarter						Nil
Disposed off during the quarter						Nil
Remaining unresolved at the end of the quarter						Nil

NOTES :-

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 6,545 crores as on December 31, 2013 to 8,382 crores as on December 31, 2014 registering a growth of 28%.
The Gross NPAs of the Company as on December 31, 2014 are 48.17 crores (0.57% of the Loan Assets) as against 29.93 crores (0.46% of the Loan Assets) as on December 31, 2013. As a result, Net NPAs of the Company are 5.50 crores (0.07% of Loans Assets) as against Nil as on December 31, 2013.
Pursuant to the approval of share holders at the 28th Annual General Meeting (AGM) of the Company held on May 28, 2014, the Company allotted bonus equity shares of 2 each as fully paid up shares in the proportion of 1:1 on June 11, 2014, to Shareholders as on June 10, 2014, being the record date fixed for the purpose. Accordingly, the number of shares and the Earnings Per Share of the previous periods/year have been restated to make them comparable.
During the nine-months ended December 31, 2014, the Company has reviewed its policy of providing for depreciation on its fixed assets and has also reassessed their useful lives. On and from April 1, 2014, the straight line method is being used to depreciate all class of fixed assets. Previously, the straight line method was used for depreciating buildings while other fixed assets were being depreciated using reducing balance method. The revised useful lives, as assessed match those specified in Part C of Schedule II to the Companies Act, 2013, for all classes of assets other than Computer Hardware. Management believes that the revised useful lives of the assets reflect the period over which these assets are expected to be used.As a result of the change, the charge on account of Depreciation for nine-months ended December 31, 2014 is higher by 1.27 crore and for the quarter ended December 31, 2014, is higher by 0.21 crore compared to the method used and useful lives estimated in earlier periods.
During the quarter, the Company allotted 3,16,770 Equity Shares pursuant to the exercise of the stock options by certain employees/directors.
During the period under review, there are no transactions in the nature of exceptional or extraordinary items.
Vide circular NHB(ND)/DRS/Policy Circular 65/2014-15 dated August 22, 2014, the National Housing Bank (“NHB”) has 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. Accordingly, the Company has charged its Statement of Profit & Loss for the nine-months ended December 31, 2014 with the deferred tax liability on additional amount expected to be appropriated towards Special Reserve out of profits. To aid comparability, the deferred tax liability charged to the Statement of Profit & Loss has been separately disclosed.As per above circular, NHB has 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 current financial year, in a phased manner in the ratio of 25:25:50. Accordingly, the Company would create 25% of deferred tax liability on accumulated Special Reserve at the end of the year.
Previous period/year figures have been regrouped and reclassified, where necessary, to make them comparable with current quarter figures.

The above results for the quarter / nine-months ended December 31, 2014, which have been subjected to a ‘Limited Review’ by the Auditors of the Company, were reviewed and recommended by the Audit Committee of Directors and subsequently approved by the Board of Directors at its meeting held on January 19, 2015 in terms of Clause 41 of the Listing Agreement.