UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st December, 2008

(Rs. in Lacs)
Particulars Quarter Ended Nine Month Ended Year ended (Audited)
31.12.2008 31.12.2007 31.12.2008 31.12.2007 31.03.2008
             
1. Income from Operations 18,239.23 14,044.76 48,394.43 37,311.94 52,052.87
2. Other Income 78.00 85.80 212.30 227.94 289.51
3. TOTAL INCOME 18,317.23 14,130.56 48,606.73 37,539.88 52,342.37
4. TOTAL EXPENDITURE 15,121.53 11,033.20 39,692.72 30,429.05 41,556.91
  a) Interest Expenses 13,408.30 9,620.74 34,909.29 26,522.25 36,462.62
  b) Staff Expenses 652.62 378.37 1,748.31 1,115.62 1,758.59
  c) Other Expenses 1,060.61 1,034.09 3,035.12 2,791.19 3,335.70
5. Gross Profit
(before depreciation and taxation)
3,195.70 3,097.36 8,914.01 7,110.83 10,785.46
6. Depreciation 73.60 71.84 191.77 177.30 212.72
7. Profit before Tax 3,122.10 3,025.52 8,722.24 6,933.52 10,572.74
8. Provision for Taxation 800.00 745.00 2,230.00 1,620.00 2,315.00
9. Profit after Tax 2,322.10 2,280.52 6,492.24 5,313.52 8,257.74
10. Paid up Equity Share Capital 6,052.30 6,052.30 6,052.30 6,052.30 6,052.30
11. Reserves --- --- --- --- 37754.72
12. * Earning per Share - Basic & Diluted. 3.84
3.77 10.73 8.78 14.43
13. Aggregate of Non-Promoter Shareholding          
  Number of Shares 27239300 27879086 27239300 27879086 27879086
  Percentage of Shareholding 45.01% 46.06% 45.01% 46.06% 46.06%

* On Weighted Average Number of Shares & 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
    30th January, 2009
  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 31st December, 2008 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. 55481 lakh as against Rs. 51617 lakh during corresponding quarter of the previous year showing increase of 7.49 %.
  5. Interest Income on loans includes income of Rs. 40.48 lakh (Rs. 91.75 lakh) being income from securitisation of certain housing loans.
  6. Other income includes Rent Income of Rs. 47.44 lakh (Rs.52.65 lakh) and Commission income of Rs. 27.29 lakh (Rs.26.25 lakh) and Miscellaneous
    income of Rs.3.27 lakh (Rs.6.90 lakh)
  7. Provision for Tax includes provision for Deferred Tax and Frienge Benefit Tax for the Quarter ended 31st December, 2008 in accordance with the
    requirements of Accounting Standard on taxes on Income ( As-22)
  8. There were no unresolved Investor complaints as on 01.10.2008. During the quarter, the Company received Five complaints, of 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.

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