Statement of Audited Financial Results for the Quarter/ Year Ended March 31, 2016

( in crore )

NOTES :

1. 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).
2. Loan Assets have increased from 8,926 crores as on March 31, 2015 to 11,115 crores as on March 31, 2016 registering a growth of 25%.
3. The aggregate NPAs of the Company are 0.32% of the Loan Assets as against 0.28% of the Loan Assets as on March 31, 2015. The Net NPAs of the Company are 0.09% of the Loan Assets.
4. During the quarter ended March 31, 2016, the Company has allotted 15,510 equity shares of 2 each pursuant to the exercise of the stock options by employees.
5. 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. 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 financial year 2014-15, in a phased manner in the ratio of 25:25:50. Accordingly, the Company has adjusted the balance in free Reserves as at April 1, 2015 by 19.89 crores with respect to second tranche 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, 2016 by 24.17 crores (Previous year 19.33 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”.

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

   ( in crores)

   Particulars	As At March 31,
   	2016	2015
   Equity and Liabilities
   Shareholders’ Funds
   Share Capital	72.74	72.68
   Reserves and Surplus	762.56	638.81
   	835.30	711.49
   Non-Current Liabilities
   Long-Term Borrowings	8,628.16	6,624.14
   Deferred Tax Liability (Net)	58.55	18.78
   Other Long – Term Liabilities	69.64	35.94
   Long-Term Provisions	79.20	66.43
   	8,835.55	6,745.29
   Current Liabilities
   Short-Term Borrowings	23.89	973.18
   Trade Payables	1.18	0.92
   Other Current Liabilities	1,643.42	660.76
   Short-Term Provisions	103.26	89.14
   	1,771.75	1,724.00
   	11,442.60	9,180.78
   Assets
   Non-Current Assets
   Tangible Assets	13.83	12.73
   Intangible Assets	0.73	1.00
   Non-Current Investments	32.95	50.50
   Long-Term Loans and Advances
   Loans	10,497.33	8,390.93
   Others	40.26	20.00
   Other Non-Current Assets	28.09	21.20
   	10,613.19	8,496.36
   Current Assets
   Current Investments	109.97	29.32
   Cash and Bank Balances	57.56	74.07
   Short-Term Loans and Advances	37.33	39.06
   Other Current Assets
   Loans	617.22	535.55
   Others	7.33	6.42
   	829.41	684.42
   	11,442.60	9,180.78

   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.

8. The Board of Directors have recommended a dividend of 2.30 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.
9. The Central Government in consultation with National Advisory Committee on Accounting Standards has amended Companies (Accounting Standards) Rules, 2006 (`principal rules’), vide notification issued by Ministry of Corporate Affairs dated March 30, 2016. The Companies (Accounting Standards) Rules, 2016 is effective March 30, 2016. According to the amended rules, the proposed dividend mentioned above in note 8 will not be recorded as a liability as at March 31, 2016. (Refer Para 8.5 of AS – 4 Contingencies and Events occurring after Balance Sheet date). The Company believes, that the Rule 3 (2) of the principal rules has not been withdrawn or replaced and accordingly, the Companies (Accounting Standards) Rule, 2016 will apply for the accounting periods commencing on or after March 30, 2016. Therefore the Company has recorded 100.68 crores as liability for proposed dividends (including corporate dividend tax) as at March 31, 2016.
10. Figures of the quarter ended March 31, 2016 and March 31, 2015 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.
11. Previous period/year figures have been regrouped and reclassified, where necessary, to make them comparable with current period figures.