REG - Housing Dev Fin Corp - Updates pertaining to financial results-June 2017 <Origin Href="QuoteRef">HDFC.NS</Origin>

Housing Development FinanceAnnouncement

04/07/2017 15:35

RNS Number : 1052K
Housing Development Fin. Corp. Ltd.
04 July 2017
Ref. No. SE/ 2017-18/119
July 4, 2017
BSE Limited National Stock Exchange of India Limited
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Obligations and Disclosure Requirements) Regulations, 2015 and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information in terms of Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015, we would like to intimate the following: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 profit on sale of investments for the quarter ended June 30, 2017 was ` 2crore.In the corresponding quarter of the previous year, the profit on sale of investments stood at ` 922crore, which was on account of sale of shares of HDFC ERGO General Insurance Company Limited to ERGO International AG (a Munich Re subsidiary).
2. Income from dividend for the quarter ended June 30, 2017 was ` 60 crore compared to ` 51 crore in the corresponding quarter of the previous year. 
3. Loans assigned/securitised
o During the quarter ended June 30, 2017, the Corporation assigned loans amounting to ` 2,458 crore (Previous Year - ` 3,296 crore) to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank.
o In addition, during the quarter, loans amounting to ` 464 crore (Previous Year - ` 1,812 crore) was sold to another bank. In respect of these loans, the residual income is 3% per annum.
o Loans sold in the preceding 12 months amounted to ` 13,841 crore (Previous Year - ` 14,011 crore).
4. In June 2017, the Reserve Bank of India's Internal Advisory Committee identified various accounts for reference under the Insolvency and Bankruptcy Code, 2016. The Corporation has an exposure of ` 909 crore as at June 30, 2017 in one of these accounts. 
As at March 31, 2017, though the account was not a non-performing loan, as a prudent measure, the Corporation had made adequate provisioning against this exposure. At this stage, the Corporation is of the belief that no further provisioning is required on this exposure for the quarter ended June 30, 2017.
Kindly note that all the figures are subject to audit by the statutory auditors of the Corporation. 
The Corporation will announce its financial results for the quarter ended June 30, 2017 on July 26, 2017.
We request you to bring the above 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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