REG - Housing Dev Fin Corp - Intimation-Updates for Qtr ended June 30, 2021

Housing Development FinanceAnnouncement

02/07/2021 13:25

RNS Number : 0519E
  
Housing Development Fin. Corp. Ltd.
  
02 July 2021
  
 

Ref. No.: SE/2021-22/105
 
July 2, 2021
 
BSE Limited                                                   National Stock Exchange of India Limited
P. J. Towers                                                     Exchange Plaza, Plot No. C/1, G Block
Dalal Street                                                     Bandra-Kurla Complex
Mumbai 400 001                                            Bandra (East), 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Obligations and Disclosure Requirements) Regulations, 2015 and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information in terms of Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015, we would like to intimate the following: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.   During the quarter ended June 30, 2021, the profit on sale of investments was ₹ 263 crore (Previous Year: ₹ 1,241 crore).  This was on account of the Corporation's entire stake sale in its associate company, Good Host Spaces Private Limited (₹ 54 crore) and part stake sale of HDFC ERGO General Insurance Company Limited (₹ 209 crore). 
 
As at June 30, 2021, HDFC's equity shareholding in HDFC ERGO General Insurance Company Limited stood at 49.98%.  For the purpose of consolidated financial results under Indian Accounting Standards (IndAS), HDFC ERGO General Insurance Company Limited shall continue to be accounted as a subsidiary. 
 
2.   Gross income from dividend for the quarter ended June 30, 2021 was ₹ 16 crore (PY: ₹ 298 crore). 
 
3.   Loans assigned: During the quarter ended June 30, 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 ₹ 5,489 crore compared to ₹ 1,376  crore in the corresponding quarter of the previous year. 
 
Individual loans sold in the preceding 12 months amounted to ₹ 23,093 crore (PY: ₹ 18,273 crore).
 
4.   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 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 ₹ 148 crore during the quarter ended June 30, 2021 (PY: ₹ 1 crore).
 
Kindly note that all the figures are subject to limited review by the statutory auditors of the Corporation. 
 
You are requested 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
 
CC: London Stock Exchange
10, Paternoster Square, London, EC4M 7LS

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