UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th June, 2007

(Rs. in Lacs)
Sr. No. Particulars Quarter Ended Year ended (Audited)
30.06.2007 30.06.2006 31.03.2007
         
1. Income from Operations 10,855.22 6,525.86 33,190.48
2. Other Income 11.50 20.28 38.98
3. TOTAL INCOME 10,866.72 6,546.14 33,229.46
4. TOTAL EXPENDITURE 8,972.72 5,286.25 27,089.24
  a) Interest Expenses 8,033.53 4,487.16 23,215.84
  b) Staff Expenses 321.12 220.97 1,159.24
  c) Other Expenses 618.08 578.12 2,714.16
5. Gross Profit
(before depreciation and taxation)
1,894.00 1,259.89 6,140.23
6. Depreciation 51.78 41.62 194.69
7. Profit before Taxation 1,842.22 1,218.27 5,945.53
8. Provision for Taxation 425.00 225.00 1,105.36
9. Profit after Tax 1,417.22 993.27 4,840.17
10. Net Profit 1,417.22 993.27 4,840.17
11. Paid up Equity Share Capital 5,012.25 5,012.25 5,012.25
12. Reserves --- --- 28848.51
13. Earning per Share - Basic & Diluted. * 2.83 1.98 9.22
14. Aggregate of Non-Promoter Shareholding --- --- ---
  Number of Shares 20813630 20813630 20813630
  Percentage of Shareholding 41.53% 41.53% 41.53%

* Not Annualised

Notes:

  1. The above financial results have been reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on 23rd July, 2007
  2. 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.
  3. The Results for the quarter ended 30th June, 2007 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
  4. Housing Loan disbursements during the quarter amounted to Rs. 40940 lakh as against Rs. 28792 lakh during corresponding quarter of the previous year showing an increase of 42.19 %
  5. Interest Income on loans includes income of Rs. 102.10 lakh (Rs. 93.55 lakh) being income from securitisation of certain housing loans
  6. Other operational income includes penal charges Rs. 26.01 lakh ( Rs. 25.30 lakh), prepayment charges of Rs. 65.20 lakh (Rs.19.97 lakh), Income on sale of investment Rs.165.58 lakh (Rs.137.58 lakh), Rent Income of Rs. 47.53 lakh (Rs.40.99 lakh) and Commission income of Rs. 11.85 lakh (Rs.3.71 lakh)
  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. There were no unresolved Investor complaints as on 01.04.2007. During the quarter, the Company received Twenty Four complaints, which all were resolved during the quarter. As such there were no unresolved investor complaint at the end of the quarter.
  9. Figures for the corresponding quarter have been regrouped wherever necessary to make them comparable with the current quarter.

 

      For DEWAN HOUSING FINANCE CORPORATION LTD.
Place : Mumbai
Date : 23rd July, 2007
KAPIL WADHAWAN
VICE-CHAIRMAN & MANAGING DIRECTOR