REG - Housing Dev Fin Corp - Updates for quarter ended June 30, 2020

Housing Development FinanceAnnouncement

03/07/2020 12:30

RNS Number : 0194S
  
Housing Development Fin. Corp. Ltd.
  
03 July 2020
  
 

Ref. No.: SE/2020-21/86
 
July 3, 2020
 
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Obligations and Disclosure Requirements) Regulations, 2015 and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information in terms of Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015, we would like to intimate the following: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, 2020, the profit on sale of investments was ₹ 1,241 crore (Previous Year: ₹ 1,894 crore). This was on account of the sale of 2,60,00,000 equity shares of HDFC Life Insurance Company Limited (HDFC Life).  As at June 30, 2020, HDFC's equity shareholding in HDFC Life stood at 50.1%.  The Reserve Bank of India has mandated that the Corporation reduce its shareholding in HDFC Life to 50% or below by December 16, 2020.
 
2.   Gross income from dividend for the quarter ended June 30, 2020 was ₹ 298 crore (PY: ₹ 1 crore). To reiterate, in accordance with the directions stipulated by the Reserve Bank of India and Insurance Regulatory & Development Authority of India, the Corporation did not receive dividend from its investments in banks or insurance companies during the quarter ended June 30, 2020. 
 
3.   Loans assigned:
 
o During the quarter ended June 30, 2020, the Corporation assigned loans amounting to     ₹ 1,376 crore (PY: ₹ 7,230 crore). All the loans assigned during the quarter ended June 30, 2020 were to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank.
 
o Loans sold in the preceding 12 months amounted to ₹ 18,273 crore (PY: ₹ 22,666 crore).
 
4.   Post the easing of the lockdown restrictions, all offices of the Corporation have opened with the permitted level of staff and following the required hygiene protocol and precautionary measures.  In accordance with directions issued by local/state government authorities, a few offices in select locations have had to be temporarily closed. Most applications and servicing of loans and deposits are being carried out seamlessly online, details of which are available on the Corporation's website, www.hdfc.com.  
 
Kindly note that all the figures are subject to limited review 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, EC4M7LS.
 


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