Statement of Audited Financial Results For The Quarter Ended June 30 2014

( in crore )

Particulars	Quarter ended June 30, 2014	Quarter ended March 31, 2014	Quarter ended June 30, 2013	Year ended March 31, 2014
Particulars	(Un-Audited)			(Audited)
Income from Operations :
a) Revenue from Operation	241.61	254.42	182.60	845.69
b) Other Income	0.01	0.00	0.59	0.47
Total Income	241.62	254.42	183.19	846.16
Expenditure :
a) Finance Cost	154.92	147.93	115.83	543.63
b) Employee Benefit Expenses	7.86	5.96	6.63	31.73
c) Other Expenses	6.70	5.95	5.53	21.46
d) Depreciation	(1.26)	0.64	0.58	2.45
e) Provision for Contingencies/ Bad Debts Written off	11.88	0.74	9.79	2.43
Total Expenditure	180.10	161.22	138.36	601.70
Profit Before Tax	61.52	93.20	44.83	244.46
Tax Expenses	15.38	19.60	11.06	67.50
Profit After Tax (Before DTL on Special Reserve)	46.14	73.60	33.77	176.96
DTL on Special Reserve	4.23	0.00	0.00	0.00
Net Profit After Tax	41.91	73.60	33.77	176.96
Earnings per Share (of 2 each) – Basic ()	1.163	2.049	0.944	4.930
– Diluted ()	1.157	2.021	0.941	4.896
Paid-up Equity Share Capital ( Face Value of 2 each )				36.03
Reserves and Surplus as at March 31				571.21

Part – II Selected information for the Quarter ended June 30, 2014

A. Particulars of Share Holding	Quarter ended Jun 30, 2014	Quarter ended Mar 31, 2014	Quarter ended Jun 30, 2013	Year ended Mar 31, 2014
Public Shareholding
– No. of Shares	147184450	147184450	145693880	147184450
– Percentage of Shareholding	40.85	40.85	40.61	40.85
Promoter and Promoter Group Shareholding
a) Pledged / Encumbered
– No. of Shares	Nil	Nil	Nil	Nil
– Percentage of Shares (as a % of the total Shareholding of Promoter and Promoter group)	Nil	Nil	Nil	Nil
– Percentage of Shares (as a % of the total Share Capital of the Company)	Nil	Nil	Nil	Nil
b) Non – Encumbered
– No. of Shares	213077850	213077850	213077850	213077850
– Percentage of Shares (as a % of the total Shareholding of Promoter and Promoter group)	100	100	100	100
– Percentage of Shares (as a % of the total Share Capital of the Company)	59.15	59.15	59.39	59.15

B. Investor Complaints				Quarter ended June 30, 2014
Pending at the beginning of the quarter				Nil
Received during the quarter				5
Disposed off during the quarter				5
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 5,727 crores as on June 30, 2013 to 7,378 crores as on June 30, 2014 registering a growth of 29%.
The Gross NPAs of the Company are 32.48 crores (0.44% of the Loan Assets) as against 26.30 crores (0.46% of the Loan Assets) as on June 30, 2013. The Net NPAs of the Company are 0.04% of the Loan Assets as against 0.05% of the Loan Assets as on June 30, 2013.
During the period under review, there are no transactions in the nature of exceptional or extraordinary items.
At the 28th Annual General Meeting (AGM) of the Company held on May 28, 2014, the members had approved the issue of Bonus Shares in the proportion of 1:1 i.e. one new fully paid up Equity Share of 2 each for every 1 (one) fully paid-up Equity Share of 2 each held.Pursuant to the said approval, on June 11, 2014, the Company allotted 18,01,31,150 equity shares of 2 each as fully paid up bonus shares in the proportion of 1:1 to Shareholders as on June 10, 2014, being the record date fixed for the purpose. In order to facilitate issue of Bonus shares, the Company’s Authorised Share Capital has been increased from 50 crores to 100 crores. Accordingly, the number of shares and the Earnings Per Share of the previous periods/year have been restated to make them comparable.
Pursuant to the Provisions of the Companies Act, 2013, the Company has during the quarter ended June 30, 2014 reviewed its policy of providing depreciation on tangible fixed assets and also reassessed the remaining useful lives of assets as on April 1, 2014. Depreciation is now provided on a straight line basis on all tangible fixed assets as against the practice of providing depreciation on some classes of assets on written down value basis and on others on a straight line basis. In respect of assets acquired on or after April 1, 2014, the cost of the asset is depreciated on a straight line basis over the useful lives as assessed by the management which is different from the indicative useful lives given in Schedule II to the Companies Act, 2013 in respect of the same classes of assets. As a result of these changes, depreciation for the quarter ended June 30, 2014 would have been lower by 0.59 crore when compared to the depreciation computed on the basis followed in the previous year.
Vide circular NHB(ND)/DRS/Pol. Circular No. 62/2014 dated May 27, 2014, the National Housing Bank (“NHB”) has directed Housing Finance Companies 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 and Loss for the quarter ended June 30, 2014, with the deferred tax liability on the 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 and Loss has been separately disclosed.
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 ended June 30, 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 July 17, 2014 in terms of Clause 41 of the Listing Agreement.