Statement of Unaudited Financial Results For The Quarter / Half Year Ended September 30,2018

( in crore )

Particulars
	Quarter ended Sept 30, 2018	Quarter ended June 30, 2018	Quarter ended Sept 30, 2017	Half Year ended Sept 30, 2018	Half Year ended Sept 30, 2017
	Reviewed
Income from Operations :
a) Interest Income	464.20	438.00	401.86	902.20	793.79
b) Fees and Other Income	16.34	14.19	14.36	30.53	26.84
Total Income from Operations	480.54	452.19	416.22	932.73	820.63
Expenditure :
a) Finance Cost	289.78	263.43	242.44	553.21	479.43
b) Employee Benefit Expenses	20.85	14.99	20.64	35.84	33.59
c) Other Expenses	14.61	13.46	9.72	28.07	22.40
d) Depreciation and Amortisation	0.87	0.83	0.76	1.70	1.42
e) Provisions for Expected Credit Loss and Write offs	8.47	3.77	22.85	12.24	34.14
Total Expenditure	334.58	296.48	296.41	631.06	570.98
Profit Before Tax	145.96	155.71	119.81	301.67	249.65
Tax Expense
– Current Tax	43.29	40.40	40.05	83.69	77.02
– Deferred Tax	(2.82)	0.20	(8.11)	(2.62)	(11.18)
Total Tax Expense	40.47	40.60	31.94	81.07	65.84
Net Profit After Tax	105.49	115.11	87.87	220.60	183.81
Other Comprehensive Income (net of tax)	(0.10)	(0.07)	(0.18)	(0.17)	(0.31)
Total Comprehensive Income	105.39	115.04	87.69	220.43	183.50
Earnings per Share (of 2 each)# (Not Annualised) – Basic ()	1.44	1.57	1.20	3.01	2.52
– Diluted ()	1.44	1.57	1.20	3.01	2.51
Paid-up Debt Capital	35.00	35.00	35.00	35.00	35.00
Paid-up Equity Share Capital (Face Value of 2 each)	146.48	146.29	73.08	146.48	73.08

# Earnings per Share for corresponding period in previous year have been adjusted to give impact of bonus shares issued during June’2018.

NOTES :

The Company has adopted Indian Accounting Standards (Ind AS) with effect from April 1, 2018 with comparative figures being restated to make them comparable. The above financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 – Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with relevant Rules issued thereunder and other accounting principles generally accepted in India.
Further transition adjustments may be required to these financial results including those arising from new or revised standards or interpretations issued by the Ministry of Corporate Affairs and National Housing Bank, as applicable.
Loan Assets have increased from 14,137 crore as on September 30, 2017 to 16,534 crore as on September 30, 2018 registering a growth of 17%.
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 Ind AS 108 “Operating Segments” specified under section 133 of the Companies Act, 2013.
Reconciliation of Net Profit as reported under erstwhile Indian GAAP and Ind AS is given below:

( in crore)

Particulars	Quarter ended Sept 30, 2017	Half year ended Sept 30, 2017
Net Profit reported as per previous Indian GAAP	77.77	150.01
Add / (Less) : Adjustments for GAAP Differences
Net gain arising on Financial Assets measured at amortised cost	(0.07)	(0.04)
Increase in Employee Benefit Expenses due to Fair Valuation of Employee Stock options	(1.05)	(2.13)
Increase in Interest Income pursuant to application of Effective Interest Rate (EIR) Method	2.21	8.46
Increase in Borrowing cost pursuant to application of Effective Interest Rate (EIR) Method	(0.94)	(1.48)
Reclassification of net Actuarial loss on Employee defined Benefit obligation to Other Comprehensive Income (OCI)	0.10	0.30
Provision for Expected Credit Loss	–	16.67
Deferred Tax impact on Ind AS adjustments	9.85	12.02
Net Profit Before Other Comprehensive Income as per Ind AS	87.87	183.81
Other Comprehensive Income after Tax	(0.18)	(0.31)
Total Comprehensive Income as per Ind AS	87.69	183.50

During the half-year, the Company has allotted 9,51,610 (previous half-year 8,30,530) Equity Shares pursuant to exercise of stock options by employees.
During the period under review, there are no transactions in the nature of exceptional or extraordinary items.
The results have been prepared based on the notified Schedule III for Non-Banking Financial Companies issued by the Ministry of Corporate Affairs on October 11, 2018.
A Statement showing Assets and Liabilities is as under :

( in crore)

Particulars	September 30, 2018
Particulars	Reviewed
Assets
1 Financial Assets
a) Cash and Cash Equivalents
– Bank and Cash Balances	20.96
– Bank Deposits	1,438.00
Total Cash and Cash Equivalents	1,458.96
b) Receivables
– Trade Receivables	–
– Other Receivables	–
c) Gross Loans	16,662.89
Less : Provisions	129.03
Net Loans	16,533.86
d) Investments	209.77
e) Other Financial Assets	75.29
	18,277.88
2 Non-Financial Assets
a) Current Tax Assets (Net)	32.34
b) Deferred Tax Assets (Net)	42.21
c) Property, Plant and Equipment	13.41
d) Intangible Assets	1.84
e) Other Non-Financial Assets	6.56
	96.36
Total Assets	18,374.24
Liabilities and Equity
Liabilities
1 Financial Liabilities
a) Payables
i) Trade Payables
– total outstanding dues of Micro Enterprises and Small Enterprises	–
– total outstanding dues of creditors other than Micro Enterprises and Small Enterprises	3.21
ii) Other Payables
– total outstanding dues of Micro Enterprises and Small Enterprises	–
– total outstanding dues of creditors other than Micro Enterprises and Small Enterprises	–
b) Debt Securities	7,339.66
c) Borrowings (Other than Debt Securities)	7,599.85
d) Public Deposits	1,514.97
e) Subordinated Liabilities	35.00
f) Other Financial Liabilities	150.70
	16,643.39
2 Non-Financial Liabilities
a) Provisions	6.43
b) Other Non-Financial Liabilities	62.69
	69.12
3 Equity
a) Equity Share Capital	146.48
b) Other Equity	1,515.25
	1,661.73
Total Liabilities and Equity	18,374.24

The above results for the quarter and half-year ended September 30, 2018, 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 October 29, 2018 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.