AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st MARCH, 2007.

(Rs. in Lacs)
Particulars Nine Month Ended(Unaudited) Quarter Ended Year Ended (Audited) Consolidated Financial Results for the Year Ended (Audited)
31.12.2006 31.03.2007 31.03.2006 31.03.2007 31.03.2006 31.03.2007 31.03.2006
                 
1. Interest from Operations 22986.33 10204.15 6701.85 33190.48 22638.08 35681.36 24472.25
2. Other Income 63.03 -24.05 -14.02 38.98 41.82 38.98 41.86
3. TOTAL INCOME 23049.36 10180.10 6687.83 33229.46 22679.89 35720.34 24514.11
4. TOTAL EXPENDITURE 18676.10 8413.14 5358.16 27089.24 18032.13 28876.22 19346.63
  a) Interest Expenses 16017.46 7198.37 4259.76 23215.84 14817.97 24667.83 15864.78
  b) Staff Expenses 745.40 413.83 295.25 1159.24 929.03 1324.58 1075.74
  c) Other Expenses 1913.23 800.94 803.15 2714.16 2285.12 2883.81 2406.11
5. Gross Profit
(before depreciation and taxation)
4373.27 1766.96 1329.67 6140.23 4647.76 6844.12 5167.48
6. Depreciation 129.62 65.07 11.30 194.69 148.35 215.09 159.62
7. Profit before Tax and exceptional items 4243.65 1701.89 1318.37 5945.53 4499.41 6629.03 5007.86
8. Exceptional Items / Long term capital gain - - 499.44 - 499.44 - 499.44
9. Provision for Taxation 755.00 350.36 293.63 1105.36 827.63 1246.92 949.78
10. Profit after Tax and exceptional items 3488.65 1351.53 1524.18 4840.17 4171.23 5382.11 4557.52
11. Prior Period Adjustment - - - - - - -1.86
12. Minority Share of Profit - - - - - 230.02 195.91
13. Net Profit 3488.65 1351.53 1524.18 4840.17 4171.23 5612.13 4751.57
14. Paid up Equity Share Capital 5012.25 5012.25 5012.25 5012.25 5012.25 5012.25 5012.25
15. Reserves - - - 28848.51 20037.19 29631.37 20631.62
16. * Earning per Share - Basic & Diluted. 6.96 2.27 3.04 9.22 8.32 9.85 8.70
17. * Earning per Share - Basic & Diluted - excluding exceptional items (income) 6.96 2.27 2.03 9.22 7.33 9.85 7.71
18. Aggregate of Non-Promoter Shareholding Number of Shares 20813630 20813630 20813630 20813630 20813630    
  Percentage of Shareholding 41.53% 41.53% 41.53% 41.53% 41.53%    

* Not Annualised / Not Weighted

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 15th May 2007
  2. The Board of Directors is pleased to recommend Final Dividend @ 15% on the Equity Capital in addition to 10% Interim Dividend paid during the year.
  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 Loan Sanctioned during the year ended 31 March, 2007 amounted to Rs. 150289 lacs as against Rs. 125702 lacs during the previous year showing an increase of 19.55%. Disbursements during the year ended 31st March, 2007 amounted to Rs. 147287 lacs as against Rs. 111027 lacs during the previous year showing an increase of 32.65%
  5. Dividend include Rs. 103.02 lacs ( Rs. 82.42lacs) received from subsidairy company and income include Rs.47.20 lacs ( Rs. 27.57 lacs) received from subsidiary company
  6. Interest Income on loans includes income of Rs. 391.66 lacs (Rs. 417.56 lacs) being income from securitisation of certain housing loans
  7. Other operational income includes penal charges Rs. 188.65 lacs ( Rs. 185.76 lacs), prepayment charges of Rs. 242.89 lacs (Rs.124.18 lacs), Income on sale of investment Rs.35.01 lacs (Rs.753.88 lacs), Rent Income of Rs. 174.59 lacs (Rs.82.01 lacs) and Commission income of Rs. 42.33 lacs (Rs.2.44 lacs)
  8. The Earning per Share has been computed in accordance with the Accounting Standard on Earning per Share (AS 20) issued by the Institute of Chartered Accountants of india.
  9. There were no unresolved Investor complaints as on 01.01.2007. During the quarter, the Company received Twenty Nine complaints, which all were resolved during the quarter. As such there were no unresolved investor complaint 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
(VICE CHAIRMAN & MANAGING DIRECTOR)
Place: Mumbai
Date: 15th May, 2007