UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2009
(Rs. in Lacs)
Particulars Quarter Ended Year ended (Audited)
30.06.2009 30.06.2008 31.03.2009
         
1 (a) Income from Operations 20563.45 13,804.15 66,821.43
  (b) Other Operational Income 780.99 361.62 2,228.10
  (c) Other Income 40.21 44.93 189.36
  TOTAL INCOME 21,384.65 14,210.70 69,238.89
2. EXPENDITURE 17,106.55 11,472.23 56,827.40
  a. Interest Expenses 14919.69 10,088.45 49,290.72
  b. Staff Expenses 1,078.43 476.24 2,840.02
  c. Depreciation 60.83 59.05 241.55
  d. Other Expenses 1,047.60 848.50 4,455.11
3. Profit before Tax 4,278.10 2,738.47 12,411.49
4. Provision for Taxation 1,152.00 775.00 3,235.00
5. Profit after Tax ( Before Prior Period Adjustment) 3,126.10 1,963.47 9,176.49
6. Prior Period Adjustment --- --- (544.66)
7. Profit after Tax ( After Prior Period Adjustment) 3,126.10 1,963.47 8,631.83
8. Paid up Equity Share Capital 6,052.30 6,052.30 6,052.30
9. Reserves --- --- 39,401.74
10. Earning per Share - Basic & Diluted.( Before Prior Period Adjustment) 5.17 3.24 * 15.15
11. Earning per Share - Basic & Diluted.( After Prior Period Adjustment) 0.00 0.00 * 14.25
12. Public Shareholding      
  Number of Shares 26,656,575 27,879,086 26,710,625
  Percentage of Shareholding 44.04% 46.06% 44.13%
13 Promoter and Promoter Group Shareholding      
  (a) Pledged/Encumbered      
  - Numbers of shares NIL NIL NIL
  - Percentage of Shares as percentage of total Shareholding of Promoters and Promoter Group NIL NIL NIL
  - Percentage of shares as a percentage of total share capital of the Company NIL NIL NIL
  (b) Non Encumbered      
  - Numbers of shares 33,866,400 32,643,889 33,812,350
  - Percentage of Shares as percentage of total Shareholding of Promoters and Promoter Group 100.00% 100.00% 100.00%
  - Percentage of shares as a percentage of total share capital of the Company 55.96% 53.94% 55.87%

Notes:

  1. The results for the quarter ended 30th June, 2009 have been subjected to "Limited Review" by the statutory Auditors of the Company in compliance with the requirement of listing agreement with Stock Exchanges.
  2. The above financial results have been reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on 28th July, 2009
  3. The main business of the Company is to provide loans for the purchase or construction of residential houses and all other activities of the Company revolve around the main business and as such there are no separate reportable segments as specified in Accounting Standard (AS-17) on "Segment Reporting", and under paragraph 25(2) of the Housing Finance Companies (NHB) Directions 2001, which needs to be reported.
  4. Housing Loans sanctioned during the quarter ended 30th June, 2009 amounted to Rs.105,601 lacs as against Rs.52,238 lacs during the previous corresponding quarter showing an increase of 102%. Disbursements during the quarter ended 30th June, 2009 amounted to Rs.77,394 lacs as against Rs.47,331 lacs during the previous corresponding quarter showing an increase of 64%.
  5. During the quarter ended the Company obtained approval of the shareholders at the Extra-Ordinary General Meeting held on 27th June, 2009, for placement of equity shares to Qualified Institutional Buyers (QIBs) and preferential issue of equity shares to the Promoters/ Promoter Group. The Committee of the Board of Directors has issued and allotted the following securities
    6. (A) On the 7th July, 2009, issued and allotted to QIBs 1,60,12,231 equity shares of Rs. 10/- each, at a price of Rs. 141/- per Equity Share (including a premium of Rs.131/- per Equity Share), aggregating to Rs. 225,77,24,571.
    (B) On 16th July, 2009, issued and allotted to Promoters/Promoters Group 53,50,000 equity shares of Rs. 10/- each, at a price of Rs. 141/- per Equity Share (including a premium of Rs.131/- per Equity Share), aggregating to Rs. 75,43,50,000.
    (C) As a result of (a) & (b) , the paid -up equity share capital of the Company has increased to Rs. 81,88,52,060 divided into 8,18,85,206 equity share of Rs.10/- each. The said equity shares allotted as per (a) and (b) above, are ranking pari-passu in all respects including dividend entitlement.
  6. Interest Income on loans includes income of Rs.49.84 lacs (Rs. 39.26 lacs) being income from securitisation of certain housing loans.
  7. Other income includes Rent Income of Rs.29.44 lacs (Rs.43.42 lacs) and Miscellaneous income of Rs.10.61 lacs (Rs.1.52 lacs).
  8. Provision for Tax includes provision for Deferred Tax for the quarter ended 30.06.2009, in accordance with the requirements of Accounting Standard on taxes on income (AS-22).
  9. There were no unresolved Investor complaints as on 01.04.2009. During the quarter, the Company received six complaints, which all were resolved during the quarter. As such there were no unresolved investor complaints at the end of the quarter.
  10. Figures for the previous year have been regrouped wherever necessary to make them comparable.

For DEWAN HOUSING FINANCE CORPORATION LTD.


KAPIL WADHAWAN
(CHAIRMAN & MANAGING DIRECTOR)
Place: Mumbai
Date : 28th July, 2009