* Not Annualised / Not Weighted
- The above financial results have been reviewed by Audit Committee and
subsequently approved the Board of Directors at their meeting held on
- The Board of Directors is pleased to recommend Final Dividend @15% on the Equity Share capital in addition to 10% interim dividend paid during the year.
- 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 seprate 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.
- Housing loan Sanctioned during the year ended 31st March,2006 amounted to Rs. 125702 lacs as against Rs 74145 lacs during the previous year showing an increase of 70 %. Disbursements during the year ended 31st March 2006 amounted to Rs. 111030 Lacs as against Rs.63376 lacs during the previous year showing an increase of 76 %
- Company has disposed off its leasehold property acquired earlier for
employees housing which could not be developed due to Regulatory
restriction and has earned profits of Rs. 499.44 lacs shown as an
exceptional item as per Accounting Standard (AS-5).
- Pursuant to shareholders approval in the Extra Ordinary General Meeting held on 27th March,2006
(a) The Company has allotted during the year 70,65,456 Optional Convertible Preference Shares (OCPS)aggregating to Rs.5299.09 lacs to M/s Caledonia Investment Plc London, by way of Foreign Direct Investment in India, with the option to the investor, to convert the same into equity shares bearing a face value at Rs.10 each with a premium of Rs.65 per share.
(b) the Company has also alloted 33,35,000 warrants convertible into one equity share of Rs.10 each at a premium of Rs.65 per share to M/s Wadhawan Holding Pvt.Ltd., a promoter group company.
- Dividend includes Rs.82.42 lacs (Rs.61.81 lacs) received from subsidiary company and Interest income includes Rs.27.57 lacs (Rs.38.31 lacs) received from subsidary company.
- Interest Income on loans includes income of Rs.417.56 lacs (Rs.482.96
lacs) being income from securitisation of certain housing loans.
- Other operational income includes penal charges Rs.185.76 lacs
(122.26 lacs), prepayment charges of Rs.124.18 lacs (Rs.151.24 lacs),
income on sale of investments Rs.753.88 lacs (Rs.106.23 lacs), Rent
income of Rs.82.01 lacs (Nil) and commission income of Rs.2.44 lacs
- The Earning per Share has been computed in accordance with the Accounting Standared on Earning per Share (AS 20) issued by the Institute of Chartered Accountants of India.
- Figures for the previous year have been regrouped wherever necessary to make them comparable.
- There were NIL unresolved investor complaints as on 01.01.06. During the quarter ended 31st March'06 , the Company received 36 complaints, which were resolved during the quarter. As such there were no unresolved investor complaint at the end of the quarter.
For DEWAN HOUSING FINANCE CORPORATION LTD.
RAKESH KUMAR WADHAWAN
Date:15th May, 2006