UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th June, 2006

(Rs. in Lacs)
Particulars Quarter Ended Year ended (Audited)
30.06.2006 30.06.2005 31.03.2006
         
1. Interest from Operations 6525.86 4694.90 22638.08
2. Other Income 20.28 15.44 41.82
3. TOTAL INCOME 6546.14 4710.34 22679.89
4. TOTAL EXPENDITURE 5286.25 3094.04 14817.97
  a) Interest Expenses 4487.16 2572.43 10591.12
  b) Staff Expenses 220.97 204.78 929.03
  c) Other Expenses 578.12 438.08 2285.12
5. Gross Profit
(before depreciation and taxation)
1259.89 973.44 4647.76
6. Depreciation 41.62 24.34 148.35
7. Profit before Taxation 1218.27 949.10 4499.41
8. Exceptional Items / Long term capital gain 0.00 0.00 499.44
9. Provision for Taxation 225.00 161.00 827.63
10. Profit after Tax and exceptional items 993.27 788.10 4171.23
11. Paid up Equity Share Capital 5012.25 5011.61 5012.25
12. Reserves --- --- 20144.28
13. * Earning per Share - Basic & Diluted. 1.98 1.57 8.32
14. Aggregate of Non-Promoter Shareholding Number of Shares 20813630 20804330 20813630
  Percentage of Shareholding 41.51% 41.51% 41.53%

* Not Annualised / Not Weighted

Notes:

  1. The main business of the Company is to provide loans for the purchase, Construction, repairs and renovation of homes / flats / real estate to Individuals,Corporate bodies and Builders and all other activities of the Company are allied to the main business and as such there are no separate segments as per the Accounting Standard on Segment Reporting (AS 17), issued by the Institute of Chartered Accountants of India.
  2. The results for the quarter ended 30th June, 2006 have been subjected to a "Limited Review" by the  Statutory Auditors of  the Company in compliance with the requirement of listing agreement with Stock  Exchanges.
  3. Income from Operations includes Rs.93.55 lacs (Rs.105.26 lacs) being income from securitisation , Rs. 0.29lacs (Rs. 2.44 lacs) being interest on household goods loan, Rs.553.46 lacs (Rs. 272.33 lacs) being interest on loans against real estate rental finance and Rs.59.54 lacs (Rs. 169.40 lacs) being other interest.
  4. Other Operational Income includes Penal charges Rs.25.30 (Rs.27.60 lacs), Prepayment charges Rs.19.97lacs (Rs.48.84 lacs),  Income on sale of investments Rs.137.58 (Rs.243.34 lacs),  Rent income Rs.40.99 lacs (Rs. Nil ), and Commission Rs.3.71 lacs ( Nil ).
  5. Provision for tax includes provision for deferred tax and frienge benefit tax for  the Quarter ended 30th June, 2006, in accordance with the requirements of Accounting Standard on Taxes on Income(AS22).
  6. Loans disbursed during the quarter amounted to Rs. 28792  lacs as compared to Rs.21810 lacs during corresponding quarter of the previous year showing an increase of  32 % . 
  7. During the year the Company has issued and alloted 25,00,000,  1% Non-convertible Preference Shares of Rs. 10/- each at a premium of Rs.90/- each.
  8. Figures for the corresponding quarter have been regrouped wherever necessary  to make them comparable with the current quarter.
  9. There were no unresolved Investor complaints as on 1.4.2006. During the quarter,  the Company received  Thirty  complaints, which all were resolved during  the quarter.
  10. The above results have been reviewed and recommended by the Audit Committee of the Board of Directors and subsequently were taken on record and approved by the Board of Directors at their meeting held on 17th July, 2006.