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

Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018

1. The Company has adopted Indian Accounting Standards ('lnd AS') notified under Section 133 of the Companies Act 2013 ('the Act') read with the Companies (Indian Accounting Standards} Rules, 2015 from April 01 , 2018 and the effective date of such transition is April 01 , 2017. Such transition has been carried out from the erstwhile Accounting Standards notified under the Act, read with relevant rules issued thereunder and guidelines issued by the National Housing Bank ('NHB') (Collectively referred to as 'the Previous GAAP'). Accordingly, the impact of transition has been recorded in the opening reserves as at April 01 , 2017. The corresponding figures presented in these results have been prepared on the basis of the previously published results under previous GAAP for the relevant periods, duly re-stated to lnd AS.

2. The Financial results of the Company for the quarter and nine months ended December 31 , 2018 are prepared in accordance with the Companies (Indian Accounting Standards} Rules, 2015 (lnd AS) and have been subjected to limited review by Statutory Auditors of the Company. The lnd AS compliant corresponding figures for the previous period have
not been subjected to review by Statutory Auditors, however, the management has exercised necessary due diligence to ensure that financial results provides a true and fair view of its affairs.

3. Assets under management (AUM) have increased from Rs. 57,668 crores as on December 31 , 2017 to Rs. 79,737 crores as on December 31, 2018 registering a growth of 38%. Loan Assets have increased from Rs. 55,296 crores as on December 31, 2017 to Rs. 70,717 crores as on December 31, 2018 registering a growth of 28%.

4. The Gross NPA, as on December 31 , 2018, of the Company is 0.47% as against 0.42% as on December 31, 2017. Net NPAs of the Company is 0.37 % of the loan assets as on December 31 , 2018, against 0.31% of the loan assets as on December 31,2017.

5. As required by paragraph 32 of lnd AS 101 , net profit reconciliation between the figures reported, net of tax, under previous GAAP and lnd AS is given below: For Table, kindly refer Corporate Announcements on www.bseindia.com.

6. The Company is principally engaged in the business of providing loans for purchase or construction of residential houses. All other activities of the Company revolve around the main business and accordingly, there are no separate reportable segments, as per the lnd AS 108 "Operating Segment" specified under section 133 of the Companies Act, 2013.

7. During the quarter ended December 31 , 2018, there were no transactions in the nature of exceptional or extraordinary items.

8. During the quarter ended December 31, 2018, the Company has allotted 850 equity shares of Rs. 10 each pursuant to exercise
of stock options by employees.

The standalone results for the quarter and nine months ended December 31 , 2018 are reviewed and recommended by the Audit Committee of Board and subsequently approved by Board of Directors at their meeting held on January 24, 2019.

Sanjaya Gupta
Managing Director