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Quarterly Results & LRR (Clause 41)
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December 08

Unaudited Financial Results for the nine months ended December 31, 2008

PARTICULARS

Quarter
ended
31.12.2008

Quarter
ended
 31.12.2007

Nine Months ended 31.12.2008

Nine Months ended 31.12.2007

Year ended 31.3.2008
 (Audited)
 
Rupees in crores
Income from Operations
- Interest Income
- Other Operating
     Income


2,827.97
89.80


1,981.51
65.42


7,551.26
272.53


5,543.73
189.69


7,783.99
259.10
Total Income (excluding Other Income and Profit on Sale of Investments and Exceptional Items)
2,917.77
2,046.93
7,823.79
5,733.42
8,043.09
Expenditure
- Interest and
  Other Charges
- Staff Expenses
- Other Expenses
- Depreciation

2,042.70

37.99
58.03
4.54

1,315.96

26.86
47.25
4.41

5,368.31

111.42
180.41
12.49

3,783.09

86.77
146.19
12.11

5,142.88

117.80
181.54
16.60
Total Expenditure
2,143.26
1,394.48
5,672.63
4,028.16
5,458.82
Profit Before Other Income and Exceptional Items
774.51
652.45
2,151.16
1,705.26
2,584.27
Other Income :
- Profit on Sale of Investments
- Others

1.50

5.57

103.42

4.37

24.06

16.20

130.72

11.71

133.26

19.71
Exceptional Items
0.00
120.94
0.00
434.19
636.26
Profit Before Tax
781.58
881.18
2,191.42
2,281.88
3,373.50
Tax Expense
234.75
232.25
642.25
613.75
937.25
Net Profit After Tax
546.83
648.93
1,549.17
1,668.13
2,436.25
Earnings per Share-(Rs) :
- Basic
- Diluted

19.20
18.89

23.53
22.32

54.39
53.36

62.52
58.89

89.86
85.28
Paid-up Equity Share Capital(Face value Rs 10)
284.45
281.57
284.45
281.57
284.04
Reserves as at March 31, 2008
 
 
 
 
11,663.31
Public Shareholding :
- Number of Shares
- Percentage of Shareholding
 
 


28,44,48,366

100


28,15,70,039

100


28,40,37,985

100

    Notes:

  1. Analysis of Profit:

    PARTICULARS Quarter ended
    31.12.2008     		Quarter ended
    31.12.2007    		 Nine Months ended 31.12.2008 Nine Months ended 31.12.2007 Year ended 31.3.2008
    (Audited)
      Rupees in crores
    Profit Before Other Income, Exceptional Items and Tax 774.51 652.45 2,151.16 1,705.26 2,584.27
    Applicable Tax 232.52 180.55 635.91 487.92 762.73
    Profit After Tax excluding Other Income and Exceptional Items (Net of Tax) 541.99 471.90 1,515.25 1,217.34 1,821.54
    Add: Other Income (Net of Tax) 4.84 83.23 33.92 114.03 121.23
    Add: Exceptional Items (Net of Tax) 0.00 93.80 0.00 336.76 493.48
    Profit After Tax – As Reported 546.83 648.93 1,549.17 1,668.13 2,436.25


  2. Exceptional items Rs Nil (Previous Year Rs 434.19 crores, net of tax Rs 336.76 crores related to profit on sale of the entire shareholding in Intelenet Global Services Private Limited, which was earlier an Associate Company of the Corporation and profit on sale of part of the Corporation's investment in its subsidiary - HDFC Standard Life Insurance Company Ltd).


  3. The Corporation's main business is to provide loans for the purchase or construction of residential houses. All other activities of the Corporation revolve around the main business. As such, there are no separate reportable segments, for the Corporation, as per the Accounting Standard on Segment Reporting (AS 17), notified by the Companies (Accounting Standards) Rules, 2006.


  4. During the quarter ended December 31, 2008, the Corporation has allotted 2,03,108 equity shares of Rs. 10 each pursuant to conversion of FCCBs and 13,503 equity shares pursuant to exercise of stock options by certain employees.


  5. There was no investor complaint that was unresolved as of October 1, 2008. During the quarter ended December 31, 2008, the Corporation received two investor complaints, both of which were resolved. As such there was no unresolved investor complaint at the end of the said quarter.


  6. Figures for the previous period have been regrouped wherever necessary, in order to make them comparable.


  7. The above results for the nine months ended December 31, 2008, which have been subject to a Limited Review by the Auditors of the Corporation, were reviewed by the Audit Committee of Directors and subsequently approved by the Board of Directors at its meeting held on January 21, 2009, in terms of Clause 41 of the Listing Agreement.


  8. Approvals during the nine months ended December 31, 2008 aggregated to Rs 33,820 crores as compared to Rs 29,376 crores during the corresponding period in the previous year - representing an increase of 15%. Disbursements during this period amounted to Rs 27,211 crores as compared to Rs 22,285 crores during the corresponding period in the previous year - representing an increase of 22%.