REG - Housing Dev Fin Corp - Financial Updates - quarter ended March 31, 2021

Housing Development FinanceAnnouncement

06/04/2021 07:05

RNS Number : 4084U
  
Housing Development Fin. Corp. Ltd.
  
03 April 2021
  
 

Ref. No. SE/ 2021-22/3
 
April 3, 2021
 
BSE Limited                                                               National Stock Exchange of India Ltd.
P. J. Towers,                                                                Exchange Plaza, Plot No. C/1, G Block
Dalal Street,                                                                Bandra-Kurla Complex, Bandra (East)
Mumbai 400 001.                                                        Mumbai 400 051.
 
Kind Attn:    Sr. General Manager                         Kind Attn: Head - Listing 
                      DCS - Listing Department
                                                
Dear Sirs,
 
Sub:    Intimation under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 
 
In accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information in terms of Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015, we would like to intimate the following:
 
1.   The individual loan business continued to see strong improvements during the quarter ended March 31, 2021.
 
2.   Loans assigned: During the quarter ended March 31, 2021, pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank, the Corporation assigned loans to HDFC Bank amounting to ₹ 7,503 crore compared to ₹ 5,479 crore in the corresponding quarter of the previous year. 
 
Individual loans sold in the preceding 12 months amounted to ₹ 18,980 crore (Previous Year: ₹ 24,127 crore).
 
3.   Reference is drawn to the notices to the stock exchanges by the Corporation dated September 4, 2020 and February 2, 2021 regarding 'Grant of Stock Options under Employees Stock Option Scheme 2020' (ESOS-2020).  Under Indian Accounting Standards (IndAS), the employee stock options are required to be fair valued and charged to the Statement of Profit and Loss as a part of employee benefit expenses primarily over the two year vesting period. This would result in a charge to the Statement of Profit and Loss of approximately ₹ 144 crore during the quarter ended March 31, 2021.
 
4.  Gross income from dividend for the quarter ended March 31, 2021 was ₹ 110 crore (PY: ₹ 2 crore). 
 
5.   During the quarter ended March 31, 2021, there was no sale of investments in subsidiary/associate companies (PY: nil).
 
 
Kindly note that the above figures are subject to audit by the statutory auditors of the Corporation. 
 
We request you to bring the above to the notice of all concerned. 
 
Thank you.
 
Yours faithfully,
For Housing Development Finance Corporation Ltd.
 
 
Ajay Agarwal
Company Secretary
 
CC: London Stock Exchange
10, Paternoster Square, London, EC4M 7LS
 
 

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