UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st December, 2007

(Rs. in Lacs)
Particulars Quarter Ended Nine Month Ended Year ended (Audited)
31.12.2007 31.12.2006 31.12.2007 31.12.2006 31.03.2007
             
1. Income from Operations 14,115.97 8,862.10 37,496.75 22,986.33 33,190.48
2. Other Income 12.47 40.92 43.13 63.03 38.98
3. TOTAL INCOME 14,128.44 8,903.02 37,539.88 23,049.36 33,229.46
4. TOTAL EXPENDITURE 11,031.08 7,175.24 30,429.06 18,676.10 27,089.24
  a) Interest Expenses 9,620.74 6,253.41 26,522.25 16,017.46 23,215.84
  b) Staff Expenses 376.88 269.21 1,111.51 745.40 1,159.24
  c) Other Expenses 1,033.46 652.62 2,795.30 1,913.23 2,714.16
5. Gross Profit
(before depreciation and taxation)
3,097.36 1,727.78 7,110.82 4,373.27 6,140.22
6. Depreciation 71.84 45.58 177.30 129.62 194.69
7. Profit before Tax 3,025.52 1,682.20 6,933.52 4,243.65 5,945.53
8. Provision for Taxation 745.00 330.00 1,620.00 755.00 1,105.36
9. Profit after Tax 2,280.52 1,352.20 5,313.52 3,488.65 4,840.17
10. Paid up Equity Share Capital 6,052.30 5,012.25 6,052.30 5,012.25 5,012.25
11. Reserves --- --- --- --- 28,848.51
12. * Earning per Share - Basic & Diluted. 3.98 2.70 9.46 6.96 9.22
13. Aggregate of Non-Promoter Shareholding          
  Number of Shares 27,879,086 20,813,630 27,879,086 20,813,630 20,813,630
  Percentage of Shareholding 46.06% 41.53% 46.06% 41.53% 41.53%

* On Weighted Average Number of Shares & Not Annualised

Notes:

  1. The above financial results were reviewed by the Audit Committee of Directors and subsequently approved by the Board of Directors at their meeting held on 31st January, 2008. The Limited Review as required under Clause 41 of the Listing Agreement has been carried out by the Statutory Auditors of the Company.
  2. The main business of the Company is to provide loans for the purchase or construction, repairs and renovation of residential houses/ flats/real estate to individuals, corporate bodies and builders 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. Housing Loan disbursements during the quarter ended 31st December, 2007 amounted to Rs.51,587 lakh as against Rs. 39,636 lakh during corresponding quarter of the previous year showing an increase of 30.15%
  4. Income from Operations for the quarter includes income of Rs. 91.75 lakh (Rs. 100.88 lakh) being income from securitisation of certain housing loans, Rs. NIL (Rs.0.02 lakh) being interest on household goods loan, Rs.490.00 lakh (Rs. 757.25 lakh) being interest on loans against real estate rental finance and Rs.81.34 lakh (Rs. 78.72 lakh) being other interest.
  5. Provision for Tax includes provision for Deferred Tax and Fringe Benefit Tax is in accordance with the requirements of Accounting Standard on "Taxes on Income" ( AS- 22)
  6. There were no unresolved Investor complaints as on 01.10.2007. During the quarter, the Company received twenty three complaints, which all were resolved during the quarter. As such there were no unresolved investor complaint at the end of the quarter.
  7. Figures for the corresponding quarter have been regrouped wherever necessary to make them comparable with the current quarter

For DEWAN HOUSING FINANCE CORPORATION LTD.

RAKESH KUMAR WADHAWAN
(CHAIRMAN)
Place: Mumbai
Date: 31st January, 2008