REG - Housing Dev Fin Corp - Outcome of Board Meeting - 07.05.2021

Housing Development FinanceAnnouncement

07/05/2021 09:30

RNS Number : 9077X
  
Housing Development Fin. Corp. Ltd.
  
07 May 2021
  
 

Ref. No. SE/2021-22/45
 
May 7, 2021
 
BSE Limited                                                                           National Stock Exchange of India Limited
P. J. Towers,                                                                            Exchange Plaza, Plot No. C/1,
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:    Outcome of Board Meeting
 
We wish to inform you that at the meeting of the Board of Directors of the Corporation held today i.e., May 7, 2021, the Board approved the audited financial results of the Corporation (both standalone and consolidated) for the year ended March 31, 2021, in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations). 
 
We would like to state that the statutory auditors of the Corporation have issued audit reports with unmodified opinion on the financial statements.
 
A copy of the said results along with the Reports issued by the Statutory Auditors of the Corporation with unmodified opinion are enclosed herewith as Annexure A. The same are being uploaded on the website of the Corporation i.e. www.hdfc.com and will also be published in the newspapers, in the format prescribed under Regulation 47 of the Listing Regulations. Press release being issued by the Corporation on the said results including impact of COVID-19 on the operations of the Corporation is also enclosed as Annexure B.
 
We also enclose herewith the disclosures in accordance with Regulation 52(4) of the Listing Regulations as Annexure C. A copy of the same duly signed by the Debenture Trustees will be sent to you within the time period stipulated under the said Regulations.
 
44th Annual General Meeting:
 
The Board approved that the 44th Annual General Meeting (AGM) of the Members of the Corporation be held on Tuesday, July 20, 2021 at 11.00 a.m. through two-way video conference.
 
Dividend:
 
The Board recommended a dividend of ` 23 per equity share of face value of ` 2 each for the financial year 2020-21. 
 
Dividend payment date: Wednesday, July 21, 2021 onwards 
 
Record date:
 
The Record Date for determining the shareholders entitled to the dividend for the financial year 2020-21, as approved by the board shall be Tuesday, June 1, 2021. 
 




Symbol


Type of Security


Record Date


Purpose

 


 



NSE -HDFC
 
BSE - 500010


Equity Shares


 June 1, 2021


Payment of Dividend for FY 2020-2021


 




 
Increase in Borrowing Powers:
 
The Board also recommended to shareholders for approval at the ensuing AGM, for increase in the overall borrowing powers of the Corporation such that the total outstanding borrowing does not exceed Rs. 6,00,000 crore at any point of time.
 
Issue of Debt Securities:
 
The Board also approved issuance of Redeemable Non-Convertible Debentures (secured or unsecured) and/or any other hybrid instruments (not in nature of equity shares) up to ` 1,25,000 crore on a private placement basis in terms of the provisions of Section 42 and other applicable provisions of the Companies Act, 2013 during a period of one year, subject to the approval of the Members at the ensuing AGM.
 
Re-appointment of Mr. Keki M. Mistry:
 
The Board, on recommendation of the Nomination and Remuneration Committee of Directors, approved the re-appointment of Mr. Keki M. Mistry (DIN: 00008886) as the Managing Director (designated as "Vice Chairman & Chief Executive Officer") of the Corporation for a period of 3 years with effect from May 7, 2021, subject to approval of the Members at the ensuing AGM. The Corporation hereby affirms that Mr. Mistry is not debarred from holding office of director by virtue of any order passed by SEBI or any such authority and he is not related to any directors or key managerial personnel of the Corporation. Brief profile of Mr. Keki M. Mistry is enclosed as Annexure D.
 
Re-appointment of Chief Risk Officer:
 
The Board also approved re-appointment of Mr. Mathew Joseph, Member of Executive Management as the Chief Risk Officer of the Corporation for a period of 2 years with effect from June 1, 2021 upto May 31, 2023, in terms of the Master Direction - Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021 issued by Reserve Bank of India.
 
Disclosures under SEBI Circular on Fund raising by issuance of Debt Securities by Large Entities:
 
The Corporation being a Large Corporate under the above mentioned framework issued by SEBI vide its circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, has made initial and annual disclosures to the stock exchanges in prescribed format on April 23, 2021. However, as required under the said circular, we once again enclose the said disclosures as Annexure E.
 
Please also find enclosed statements of deviation or variation for equity & warrants and non-convertible debentures issued by the Corporation, in the prescribed format as required under Regulations 32 & 52(7) of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019 and Circular No. SEBI/HO/DDHS/08/2020 dated January 17, 2020, as Annexure F.
 
Please note that the said Board meeting commenced at 11.30 a.m. and concluded at 1.28 p.m.
 
Please note that in terms of the HDFC Securities Dealing Code and the SEBI (Prohibition of Insider Trading) Regulations, 2015, the window for trading in Securities of the Corporation by its employees and directors of the Corporation will open on Monday, May 10, 2021.
 
We request you to take note of the above and arrange to bring this to the notice of all concerned. 
 
Thank you,
 
Yours faithfully,
For Housing Development Finance Corporation Limited
 
 
 
Ajay Agarwal
Company Secretary 
 
Encl: a.a.
 
cc:        London Stock Exchange
            10, Paternoster Square
London EC4M 7LS    
 
cc: NSDL: Kind Attn: Ms. Neha D                : Fax No: 022-66608035
cc: CDSL: Kind Attn: Mr. Prem Mariwala    : Fax No: 022-22723199
 
 
 
Annexure - C
 
Disclosures in compliance with Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the half-year ended March 31, 2021.
 
 
·    The Secured Redeemable Non-Convertible Debentures (NCDs) issued by the Corporation have been assigned the highest rating of 'CRISIL AAA/Stable' and 'ICRA AAA/Stable'.
 
·    Asset cover available as on March 31, 2021, in case of the NCDs issued by the Corporation is 2.94.
 
·    Debt-Equity ratio as on March 31, 2021 is 4.05.
 
·    The Corporation has paid interest and principal on NCDs and principal on Commercial Papers on the due dates. Details of payment of interest/ principal of the Secured Redeemable Non-Convertible Debentures and payment of principal of Commercial Papers as required under Regulation 52(4)(d) and Regulation 52(4)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is provided in Annexure C.
 
·    Intimation in terms of Regulations 30 and 57(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding payment of interest and principal amount in respect of all listed debt securities is submitted to the stock exchanges as and when the payment is done by the Corporation and the same is also sent to the Debenture Trustees via email.
 
·    Debt service coverage ratio as on March 31, 2021 is 0.51.
 
·    Interest service coverage ratio as on March 31, 2021 is 1.52.
 
·    The Corporation is not required to create Debenture Redemption Reserve as per the General Circular no. 4/2003 dated January 16, 2003 issued by the Department of Company Affairs and Rule 18(7) (b) (ii) of Companies (Share Capital and Debentures) Rules, 2014.
 
·    Net worth as on March 31, 2021 is Rs. 1,08,782.65 crore.
 
·    Net Profit after Tax for the year ended March 31, 2021 is Rs. 12,027.30 crore.
 
·    Earnings per share as on March 31, 2021: Basic Rs. 67.77 and Diluted Rs. 67.20.
 
 
Annexure - C
 
Details of payment of interest/ principal of the Secured Redeemable Non-Convertible Debentures in accordance with Regulation 52(4)(d) and Regulation 52(4)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
 




Sr. No.


NCD Series


ISIN No.


Previous due date 
October 1, 2020 to March 31, 2021)


Interest 
(April 1, 2021 to September 30, 2021)


Principal
(April  1, 2021 to September 30, 2021)




Interest


Principal


Next due date


Amount (Rs. in crore)


Next due date


Amount (Rs. in crore)






1


193 (G-012)


INE001A07FG3


-


-


08-Apr-21


44.80


-


-




2


196 (G-015)


INE001A07FJ7


-


-


09-Apr-21


44.80


-


-




3


208 (H-012)


INE001A07FV2


19-Oct-20


19-Oct-20


-


-


-


-




4


209 (H-013)


INE001A07FW0


26-Nov-20


26-Nov-20


-


-


-


-




5


212 (H-016)


INE001A07FZ3


23-Dec-20


23-Dec-20


-


-


-


-




6


216 (H-020)


INE001A07GD8


18-Jan-21


18-Jan-21


-


-


-


-




7


227 (H-031)


INE001A07GO5


-


-


13-Apr-21


17.49


13-Apr-21


185.00




8


I-001


INE001A07GP2


-


-


03-May-21


94.00


03-May-21


1000.00




9


I-007


INE001A07GV0


-


-


10-Jun-21


39.60


10-Jun-21


400.00




10


I-012


INE001A07HA2


-


-


20-Jul-21


42.98


20-Jul-21


450.00




11


I-016


INE001A07HE4


-


-


17-Aug-21


18.90


17-Aug-21


200.00




12


I-019


INE001A07HH7


-


-


23-Sep-21


24.00


23-Sep-21


250.00




13


I-021


INE001A07HJ3


11-Nov-20


-


-


-


-


-




14


J-002


INE001A07II3


-


-


09-May-21


19.00


-


-




15


J-008


INE001A07IO1


-


-


04-Jul-21


19.00


-


-




16


K-024


INE001A07KU4


21-Mar-21


-


-


-


-


-




17


M-009


INE001A07MS4


-


-


24-Jun-21


47.12


-


-




18


M-014


INE001A07MX4


-


-


13-Aug-21


45.13


-


-




19


M-018


INE001A07NB8


-


-


28-Aug-21


93.91


-


-




20


N-004


INE001A07NJ1


23-Jan-21


-


-


-


-


-




21


N-008


INE001A07NN3


25-Feb-21


-


-


-


-


-




22


N-010


INE001A07NP8


04-Mar-21


-


-


-


-


-




23


P-002


INE001A07OO9


04-Mar-21


04-Mar-21


-


-


-


-




24


P-006


INE001A07OS0


-


-


26-Apr-21


41.64


26-Apr-21


500.00




25


P-007


INE001A07OT8


-


-


04-May-21


41.60


-


-




26


P-010


INE001A07OW2


-


-


-


-


10-May-21


500.00




27


P-011


INE001A07OX0


-


-


13-May-21


86.42


-


-




28


P-012


INE001A07OY8


-


-


18-May-21


126.75


-


-




29


P-015


INE001A07PB3


-


-


01-Jun-21


59.92


-


-




30


P-016


INE001A07PC1


-


-


15-Jun-21


84.60


-


-




31


P-019


INE001A07PF4


-


-


24-Jun-21


45.26


-


-




32


P-023


INE001A07PJ6


-


-


29-Jul-21


41.00


29-Jul-21


500.00




33


Q-003


INE001A07PN8


-


-


24-Aug-21


79.00


-


-




34


Q-011


INE001A07PV1


18-Nov-20


-


-


-


-


-




35


R-005


INE001A07QG0


27-Mar-21


-


-


-


-


-




36


R-006


INE001A07QH8


-


-


13-Apr-21


14.00


-


-




37


R-008


INE001A07QJ4


-


-


24-Apr-21


12.32


-


-




38


R-018


INE001A07QT3


-


-


20-Jun-21


53.50


-


-




39


S-004


INE001A07RC7


17-Nov-20


17-Nov-20


-


-


-


-




40


U-001


INE001A07RG8


16-Oct-20


-


-


-


-


-




41


U-003


INE001A07SA9
INE001A07SS1


01-Nov-20  01-Nov-20


-


-


-


-


-




42


U-004


INE001A07RJ2


20-Nov-20


-


-


-


-


-




43


U-005


INE001A07RK0


29-Nov-20


-


-


-


-


-




44


U-007


INE001A07RM6


21-Dec-20


-


-


-


-


-




45


U-008


INE001A07RN4


15-Dec-20


15-Dec-20


-


-


-


-




46


U-010


INE001A07RP9


15-Oct-20


15-Oct-20


-


-


-


-




47


V-003


INE001A07RS3


18-Mar-21


-


-


-


-


-




48


V-004


INE001A07RT1


27-Mar-21


-


-


-


-


-




49


V-005


INE001A07RU9


-


-


20-Jun-21


182.33


-


-




50


V-006


INE001A07RV7


-


-


11-Jul-21


204.14


-


-




51


V-007


INE001A07RW5


-


-


18-Jul-21


393.50


-


-




52


V-008


INE001A07RX3


-


-


14-Aug-21


158.20


-


-




53


W-001


INE001A07RY1


-


-


16-Sep-21


185.90


16-Sep-21


2600.00




54


W-002


INE001A07RZ8


-


-


26-Sep-21


145.60


-


-




55


W-003


INE001A07SB7


22-Oct-20


-


-


-


-


-




56


W-004


INE001A07SC5


25-Nov-20


-


-


-


-


-




57


W-005


INE001A07SD3


30-Dec-20


-


-


-


-


-




58


W-006


INE001A07SE1


08-Jan-21


-


-


-


-


-




59


W-007


INE001A07SF8


-


-


28-Jun-21


238.64


28-Jun-21


3525.00




60


W-008


INE001A07SG6


10-Feb-21


-


-


-


-


-




61


W-009


INE001A07SH4


13-Feb-21


-


-


-


-


-




62


W-010


INE001A07SI2


28-Feb-21


-


-


-


-


-




63


X-001


INE001A07SJ0


-


-


13-Apr-21


180.00


-


-




64


X-002


INE001A07SK8


-


-


27-Apr-21


86.88


-


-




65


X-003


INE001A07SL6


13-Dec-20


-


-


-


-


-




66


X-004


INE001A07SM4


-


-


19-May-21


350.00


-


-




67


X-005


INE001A07SN2


10-Dec-20


-


-


-


-


-




68


X-007


INE001A07SQ5


-


-


09-Sep-21


99.00


-


-




69


X-006


INE001A07SO0


-


-


17-Jun-21


290.00


-


-




70


Y-001


INE001A07SR3


-


-


29-Sep-21


321.50


-


-




71


Y-004


INE001A07SV5


18-Feb-21


-


-


-


-


-




72


QIP-2020


INE001A07SP7


-


-


11-Aug-21


199.42


-


-




 
 
 
 
 
 
Annexure - C
 
Details of payment of  principal of Commercial Papers in accordance with Regulation 52(4)(d) and Regulation 52(4)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
 




Sr. No.


CP Series


ISIN No.


Principal 
October 1, 2020 to March 31, 2021)


Principal
(April 1, 2021 to September 30, 2021)




Previous due date


Amount (Rs. in crore)


Next due date


Amount (Rs. in crore)






1


CP-29/2019-20


INE001A14VZ6


09-Oct-20


1000.00


-


-




2


CP-30&31/2019-20


INE001A14WA7


19-Oct-20


1275.00


-


-




3


CP-8/2020-21


INE001A14WT7


28-Oct-20


2000.00


-


-




4


CP-32/2019-20


INE001A14WB5


03-Nov-20


1000.00


-


-




5


CP-6/2020-21


INE001A14WR1


09-Nov-20


3000.00


-


-




6


CP-35/2019-20


INE001A14WD1


27-Nov-20


1100.00


-


-




7


CP-10&12/2020-21


INE001A14WD1


27-Nov-20


2000.00


-


-




8


CP-11/2020-21


INE001A14WV3


10-Dec-20


1500.00


-


-




9


CP-9/2020-21


INE001A14WU5


18-Dec-20


3000.00


-


-




10


CP-38/2019-20


INE001A14WG4


13-Jan-21


2150.00


-


-




11


CP-16/2020-21


INE001A4WY7


22-Jan-21


3000.00


-


-




12


CP-41/2019-20


INE001A14WJ8


27-Jan-21


1000.00


-


-




13


CP-39/2019-20


INE001A14WH2


05-Feb-21


2000.00


-


-




14


CP-19/2020-21


INE001A14XA5


09-Feb-21


2000.00


-


-




15


CP-40/2019-20


INE001A14WI0


10-Feb-21


1425.00


-


-




16


CP-42&43/2019-20


INE001A14WK6


24-Feb-21


2575.00


-


-




17


CP-2/2020-21


INE001A14WM2


10-Mar-21


2800.00


-


-




18


CP-1/2020-21


INE001A14WN0


-


-


15-Apr-21


500.00




19


CP-31/2020-21


INE001A14XJ6


-


-


30-Apr-21


3000.00




20


CP-23&24/2020-21


INE001A14XD9


-


-


17-May-21


1700.00




21


CP-27/2020-21


INE001A14XF4


-


-


20-May-21


650.00




22


CP-4&37/2020-21


INE001A14WP5


-


-


25-May-21


2650.00




23


CP-28/2020-21


INE001A14XG2


-


-


28-May-21


1370.00




24


CP-32&33/2020-21


INE001A14XK4


-


-


16-Jun-21


3000.00




25


CP-29/2020-21


INE001A14XH0


-


-


21-Jun-21


500.00




26


CP-7/2020-21


INE001A14WS9


-


-


26-Aug-21


2900.00




27


CP-34/2020-21


INE001A14XL2


-


-


17-Sep-21


1000.00




28


CP-13/2020-21


INE001A14WW1


-


-


24-Sep-21


2100.00




 
 
 
 
Annexure D
 
Brief Profile of Mr. Keki M. Mistry
 
Mr. Keki M. Mistry (DIN: 00008886) is the Vice Chairman & Chief Executive Officer of the Corporation. Mr. Mistry joined the Corporation in 1981. He was appointed as the Executive Director of the Corporation in 1993, as the Deputy Managing Director in 1999 and as the Managing Director in 2000. He was re-designated as the Vice Chairman & Managing Director of the Corporation in October 2007. Mr. Mistry has been the Vice Chairman & Chief Executive Officer of the Corporation with effect from January 1, 2010. Mr. Mistry is currently the Chairman of CII National Council on Corporate Governance and a member of Primary Markets Advisory Committee set up by the Securities and Exchange Board of India (SEBI). He was also a member of the Committee of Corporate Governance set up by the SEBI. Mr. Mistry is a member of the Corporate Social Responsibility Committee of Directors and the Risk Management Committee. 
 
Mr. Mistry is a Fellow of The Institute of Chartered Accountants of India. He is an expert in finance, accountancy, audit, economics, consumer behaviour, sales & marketing, corporate governance, risk management and strategic thinking. He has vast experience in housing finance sector.
 
 
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