Dewan Housing Finance Corporation Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018

The Notes to the Results are given in the Results submitted vide the Company’s letter Ref. No. DHFL/CSD/2018-19/1315 dated 25th January, 2019

1. The Company has adopted Indian Accounting Standards ("Ind AS") with effect from 1st April, 2018, the date of transition being 1st April, 2017, with comparative figures being restated to make them comparable. The above financial results have been prepared in accordance with Ind AS that are applicable to the Company based on MCA Notification G.S.R. Ill (E) and G.S.R. 365(E) dated February 16, 2015 and March 30, 2016 respectively. Any application guidance/ clarifications/ directions issued by National Housing Bank or other regulators are adopted/implemented as and when they are issued/ made applicable.

In accordance with SEBI Circular No. CIR/CFD/FAC/62/2016 dated 5th July, 2016, the Company has opted to give Ind AS compliant financial results only for current quarter and nine months ended 31st December, 2018 and corresponding previous quarter and nine months ended 31st December, 2017.

2. The net profit reconciliation between the figures reported, net of tax, under previous GAAP and Ind AS is given below:

3. As per requirements of Ind AS 108 on 'Operating Segments', based on evaluation of financial information by the Chief Operating Decision Maker (CODM) for allocating resources and assessing performance, the Company has identified a single segment i.e. providing loans for purchase or constructions of residential houses including all other activities. Accordingly, there are no separate reportable segments as per Ind AS 108.

4. The above unaudited standalone financial results have been reviewed and recommended by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on 25th January, 2019.

5. During the quarter, the Company has issued and allotted 24,433 equity shares of Rs. 10/- each pursuant to exercise of Stock appreciation rights under the 'ESAR /ESOS Scheme' by eligible employees.

6. The above results for the quarter and nine months ended 31st December, 2018 have been subjected to "Limited Review" by the Statutory Auditors of the Company.