UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th September, 2004

(Rs. in Lacs)
Particulars Quarter Ended Nine Nonth Ended Previous Year Ended
30.09.2004 30.09.2003 30.09.2004 30.09.2003 31.03.2004 (Audited)
             
1. Interest Income Operations 4024.54 3562.63 7552.36 6850.98 14421.37
2. Other Income 33.91 37.86 99.62 57.35 267.19
3. TOTAL INCOME 4058.45 3600.49 7651.98 6908.33 14688.56
4. TOTAL EXPENDITURE 3269.42 2885.64 6111.51 5601.40 11864.06
   a) Interest 2572.43 2456.05 4940.49 4799.60 9704.76
   b) Staff Cost 197.81 157.82 380.60 304.40 673.53
   c) Other Expenditure 499.18 271.77 790.42 497.40 1485.77
5. Gross Profit
(before depreciation and taxation)
789.03 714.85 1540.47 1306.93 2824.50
6. Depreciation 37.38 26.98 60.22 45.21 83.69
7. Profit before Taxation 751.65 687.87 1480.25 1261.72 2740.81
8. Provision for Taxation 148.39 160.36 316.14 278.36 500.89
9. Net Profit 603.26 527.51 1164.11 983.36 2239.92
10. Paid up Equity Share Capital 3579.81 3579.81 3579.81 3579.81 3579.81
11. Reserve --- --- --- --- 9090.37
12. * Earning Per share - Basic & Diluted. 1.65 1.27 3.19 2.38 6.12
13. Aggregate on Non Promoter Shareholding Number of Shares 18390070 19510070 18390070 19510070 19510070
  Percentage of Shareholding 51.38% 54.50% 51.38 54.50% 54.50%

* Not Annualised / Not Weighted

Notes:

  1. 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 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. Provision for tax includes deferred tax amounting to Rs.3.37 lacs (previous year Rs.21.75 lacs) for the quarter ended 30th September, 2004, in accordance with the requirements of Accounting Standard on "Taxes on Income" (AS22).
  3. The results for the quarter ended 30th September, 2004 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. Income from operation of reporting quarter includes Rs.113.54 lacs (Rs.88.55 lacs) being income from securitisation ,Rs.6.86 lacs (Rs.18.82 lacs) being interest on household goods loan, Rs.29.00 lacs (Rs.29.86 lacs) being interest on loans against real estate rental finance and Rs.131.15 lacs (Rs. 67.01lacs) being other interest.
  5. The Company has made Pro-rata provisions during the half year for contingencies in compliance with new NPA guidelines of NHB for provision on over three months overdues and its other directions, aggregating to Rs.298.12 lacs (Rs.45.06 lacs) which is included in other expenses.
  6. Disbursement during the quarter was Rs.17033 lacs as compared to Rs. 9016 lacs during corresponding quarter of the previous year showing an increase of 88.92 %.
  7. Figures for the corresponding period have been regrouped wherever necessary to make them comparable with the current period.
  8. There were no unresolved complaints as on 1.7.2004. During the quarter the Company received forty seven complaints, which all were resolved during the quarter.
  9. The above results have been taken on record and approved by the Board of Directors at their meeting held on 25th October, 2004.