MCG & DLF joined hands to open libraries in DLF City

In a move to strengthen and empower the residents of its city, DLF joined hands with Municipal Corporation of Gurgaon to set up libraries in DLF City. The libraries will be set up in DLF City. The libraries will be furnished with wide range of books of different subjects which will benefit the senior citizen, women and the children of the city. 

It will be a place where residents of all ages and incomes will visit and enjoy spending their time. These libraries will be local centres of information, making all kinds of knowledge and information easily available to the residents.

MCG is very keen for all round developments of the city and its citizens whether it is civic amenities or knowledge and information technology. To educate and update the citizens of Gurgaon with latest technology/information and cultural heritage of the Country with the active involvement, guidance and rational outlook of Sh. Vikas Gupta, IAS, Commissioner, Municipal Corporation, Gurgaon is stepped in to set up libraries in each ward fitted with sophisticated furniture, fixture and modern literature with latest information and the books preserved our cultural heritage, knowledge and history.

“Public libraries play vital role and fundamental importance in development of mental status of the citizens and are a medium to disseminate information and educate the masses. DLF is supporting MCG in this cause and providing space to set up library in DLF City"said Mr. Y.S. Gupta, Joint Commissioner MCG.

“A library is a place that is a repository of information and gives every citizen equal access to it. It's a community space for the development of the society. We are thankful to the Municipal Corporation of Gurgaon for joining us in this endeavor.” said Mr. Rohit Malik Director DEDL.

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Apnaghar.co.in to expand its Business Network

Apnaghar.co.in to expand its Business Network with Franchisees
New Delhi, January 2015: Apnaghar.co.in, India’s 1st comprehensive website for housing solution,plans to expand its business network through the franchise route across the country.

Apnaghar is a unique concept that provides ready-made and customized house designs of specific requirement through out the world. Apnaghar has wide variety of readymade house designs listed on the website www.apnaghar.co.in. All the available gallery are designed by our professional team of architects and engineers.

Serving the Nation since the last 6 years and having created a unique name for itself, now Apnaghar brings a unique business opportunity for people to join the online architectural consultancy for designing eco-friendly and energy efficient house design best suited to the environment by partnering with India’s largest Online Housing Network.


Apnaghar.co.in in its endeavor to create a network of Franchisee all over India, is inviting applications to join the network from each franchisee to every city and town of India. “The qualifying criteria for the city is that one requires to pay 2-5 lakh as franchisee fees and employ one-two manpower depending upon the size and population of the city”. Anyone who qualifies to become a Franchisee will have to pay a one-time very nominal non-refundable joining fee. The role of a Franchisee would be to promote the business in the designated territory.

Mr. Sumitendra Das, Business Head, Apnaghar.co.in says, “We take pride in expanding ourselves through the franchise route as we feel we will be creating a huge self-employment opportunity in every city and even the smallest of towns in India. By expanding our network, we wish to bring forward a unique business opportunity for anyone who joins our network as a Franchisee".

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M3M India accelerates land acquisition from Sahara Group

M3M India accelerates land acquisition from Sahara Group with an advance fund of Rs 300 crore

Prepays the unprecedented figure in a bid to facilitate its aim of developing smart city in Gurgaon!

New Delhi: M3M India, a leading ultra-luxury real estate developer has made the unprecedented move of paying a whopping Rs 300 crore in advance to Sahara Group in order to close the deal of Rs 1221 crore on a premium land parcel in Gurgaon. The move shows the real estate giant’s earnest desire to develop the land into a Smart City within a short span of time. This demonstrates M3M’s confidence and desire to obtain and go-ahead with the development.


M3M India, one of India’s reputed real estate developes has made this investment following the land transaction worth Rs.1221 crore that it had sealed with Sahara Group for 185 acres of land in Delhi NCR region. This land is to be utilized for the development of branded residencies, branded service apartments, multiplexes, hotels, offices, entertainment centers and other smart city features.


Mr. Pankaj Bansal, Director-M3M India said, “Every deal we enter into is a matter of great importance for us. We are eager to close the deal with Sahara Group so that we can kick start the developmental work of the Gurgaon land; hence we opted to make the advance payment. This is a testament to the fact that we are constantly endeavoring to make remarkable contributions to the real-estate industry and construct uber-smart cities for our patrons.”

Going by the deal, M3M India was supposed to pay only Rs 150 crore but ended up paying another tranche of Rs 300 crore to shorten the time to conclude the deal. Contrary to the lukewarm position of most real estate players in the market today, M3M India is launching into new deals and leaving no stone unturned to transform the fate of the property landscape of the country.

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Signature Global Launches Synera in Gurgaon

 

Signature Global Launches Synera in Gurgaon
Another Step To Make Dream Home A Reality

Gurgaon, Haryana, India
Signature Global, one of the leading real estate developers of Delhi/NCR, presents it’s another value based housing project in millennium city-Gurgaon. After a grand success of “Solera” a project of ‘Signature Global’ now the company has come up with it’s another project ‘Synera’ at Sector 81, NH - 8, Gurgaon.

Accepting the value of ‘homes for all’; the project will be for middle class segment which now days is a rare sight in Gurgaon. The company feels that developing value based housing project in the heart of city like Gurgaon is a daring approach to enter the realty market, but also creates the perfect mix of reliability and responsibility. Synera is located on NH - 8 in Sector 81, which is one of the Gurgaon's most posh locations.

Signature Global's Synera complex is a truly unmatched residential opportunity. Being developed in conjunction with the government of Haryana, this residential complex will give a new meaning to the term ‘Value Based Housing’. The apartments will be allotted by a draw of lots - making sure that as soon as they are launched, the value of the property, including the retail centre, shoots up tremendously; the company is planning to offer 1 & 2 BHK apartments with features like zero maintenance for 5 years as per HUDA affordable policy, provision for power and water back up, Community Hall and Creche in the society, exclusive children’s play area, picturesque landscaping, state of art contemporary construction & architecture and well ventilated apartments with abundant natural light.

The USP apart from being an affordable project in the region of Gurgaon; it has a direct entry from 60 metre wide sector road, it shares a wonderful location and is strategically located with Delhi being 25 mins away, 5 mins from proposed metro line and Dwarka Expressway, 2 mins from NH 8 and 20 mins from IGI Airport. The project is spread across 5 acres with 824 units in offer for public with varied sizes starting from carpet area of 301 sq. ft. onwards plus balcony(ies) for 1BHK & 498 sq.ft. plus balcony(ies) onwards for 2 BHK. The flats will be available at a cost starting from Rs. 12.37 lakhs onwards for 1BHK & Rs. 20.42 lacs onwards for 2BHK per flat depending upon the category of flat applied by the customer, and the project will be offered for possession within 4 years.

Mr. Pradeep Aggarwal, Chairman, Signature Global says, “We are happy that we kept our promise of fulfilling customer's expectations and demands in such a costly market to provide value based housing solutions. We consistently aspire to give value based offerings to our customers and our second project will be in the same league. We are confident that "Synera" will also be a grand success in this segment. Our primary aim is to provide quality homes at value to money prices; we are sure to achieve our way of success!”

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Indian Real Estate Steps into Year 2015 with Positive Outlook

Indian Real Estate Steps into Year 2015 with Positive Outlook

Mr. Raja Mukherjee, Head - Sales & Marketing, Concorde Group
Bangalore, Karnataka, India

Year 2015 is just round the corner and everyone wants to know what lies in the New Year for them. Real estate world is one such sector which with positive outlook has a potential to fulfil many dreams. Market pundits have already started begun to forecast 2015 as the best year in the current decade when it comes to real estate absorption. According to PWC’s latest report, India will see increased economic growth, and the removal of barriers to FDI will ‘spur demand for construction’ over the coming 12 - 18 months.

Clauses in our policy like lock-in requirement and exit route along with the repressive minimum threshold for built-up area were some of the major factors in reduced inflow of FDI in Indian construction sector. However, following the election of a new government, India’s construction sector is forecast to grow at 7-8 % per year for the next ten years. Government has reduced minimum built-up area as well as capital requirement and have eased the exit norms.

The increased inflow of FDI due to easing of rules in Indian construction sector will surely provide a boost to the real estate sector. It is a positive announcement and will certainly encourage more investors to consider investing in India. It will also help developers get liquidity (much needed) into the system. With such positive announcements, we will see more and more foreign players venturing into promising Indian real estate market. This will also reflect into making things easier for the middle class and real estate more affordable.

An estimated US$1 trillion is being spent on infrastructure over the five years to 2017 and there is increased investment in industrial projects by the government. However, it is the private housing sector that the PwC report highlights as a key growth area.

The Government of India has proposed to release the Real Estate (Development and Regulation) Bill which aims to protect consumer interest and introduce standardisation in business practices and transactions in the sector. The bill will also enable domestic and foreign investment flow into the sector.

'Under the Sardar Patel Urban Housing Mission, 30 million houses will be built by 2022, mostly for the economically weaker sections and low-income groups, through public-private-partnership, interest subsidy and increased flow of resources to housing sector', according to Mr M Venkaiah Naidu, Union Minister of Housing and Urban Poverty Alleviation.

Another report from PwC titled 'Emerging Trends in Real Estate Asia Pacific 2015' ranked three major metros among the 22 cities surveyed across the region. While Mumbai climbed to 11th position, Delhi's ranking improved to 14th and Bangalore to 17th, indicating a significant improvement in investor sentiment in the country.

Foreign Institutional investors (FII) across the globe are watching changed economic and political setting in India, and are now beginning to have a consideration about India - a stark difference from the situation just a couple of years ago. Limited Partners also note that if the golden era of the real estate in India were to start now, it would last longer.

However, there are few hurdles before real estate industry hits the top gear. Policy reforms will play a key role and have to be implemented in the next 12-18 months to sustain the interest going forward. With the not-so happy return experiences from the past in the region, Limited Partners are quick to add that cautious optimism on the macro front might not necessarily translate into dramatic turnaround for the Indian real estate sector yet.

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VBHC- The Affordable Housing Major Completes its Mumbai Project

VBHC- The Affordable Housing Major Completes its Mumbai Project

• Hands over 350 homes at its Vaibhav -Palghar project in a record time of 20 months 
• VBHC is the first developer to offer a fast growing township in Palghar

Mumbai, Maharashtra, India
 

The pioneer of quality affordable housing - Value & Budget Housing Corporation (VBHC) has reiterated its commitment of bringing affordability to the country’s most unaffordable market with the delivery of over 350 homes at its Vaibhav -Palghar project in Mumbai.

VBHC is the first real estate developer in the entire Palghar area that has delivered 350 apartments in a record period of 20 months. Also, the organization is the only developer in the region that offers such a large-scale residential development equipped with all modern amenities.

Speaking at the handover ceremony, Mr. P.S. Jayakumar, Managing Director, Value and Budget Housing Corporation (VBHC) said “This is a proud moment for us at VBHC to have been able to deliver homes for possession to 350 owners within the promised period. At VBHC, we believe in creating a sustainable communities for our customers. The Palghar project is a testimony to our endeavor towards the same.”

The project is spread across an area of 47 acres with 70 per cent of open space with landscaped gardens and a kid’s play area. Vaibhav- Palghar like other projects of the company has used the reliable FORM based construction technology. The project has also incorporated various sustainable elements like dual plumbing, solar water heating, bio gas plant & sewage treatment plant along with recreational facilities like club house, shopping complex as well as other amenities.

With pan India presence, VBHC is one of the few developers in the country dedicated to serving the low cost housing segment and has simultaneous projects being lined up in Tier I, II & III cities to cater to the increasing demand for affordable housing. The company is in various stages of identification and procurement of land for developing affordable housing in the states of Rajasthan, Gujarat, Maharashtra, Tamil Nadu, Uttar Pradesh and Madhya Pradesh to expand its national footprint. VBHC has large scale expansion plans and promises to deliver 18,000 homes in the next 3 years as it expands its footprint across India.

About VBHC: Value & Budget Housing Corporation Pvt. Ltd. (VBHC), is an ISO 9001:2008 certified professionally managed real estate company which believes that good quality living should be within everyone’s reach. The company was co-founded by former Mphasis Chairman, Mr. Jaithirth (Jerry) Rao and former Citibank Consumer Banking Head, Mr. P. S. Jayakumar.

With marquee investors like HDFC, IFC, Carlyle and Caspian Advisers, VBHC has large scale expansion plans and promises to deliver 18,000 homes in the next 3 years as it expands its national footprint across India.

VBHC's objective is to provide housing that meets high quality construction standards, ensures speedy completion and delivery at low cost. These objectives are best met through the application of contemporary building technology, computer aided design methods, a lean manufacturing process and the adoption of ingenious industrial engineering processes. VBHC has been able to transform real estate development into a lean industrial process with the use of 'form' technology.

VBHC homes are meticulously planned and designed to give one’s family the true experience of modern living. At present, VBHC has projects in Bangalore, Chennai, NCR and Mumbai. VBHC has received the much acclaimed EDGE (Excellence in Design for Greater Efficiencies) green building certification from IFC for its apartment buildings the only company in India to achieve this certification.

For more information log on to: www.vbhc.com

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Vaswani Group Presents Vaswani Exquisite

Vaswani Group Presents Vaswani Exquisite

Bangalore, Karnataka, India

Vaswani group has prelaunched an exclusive residential project, “Vaswani Exquisite” adjacent to Zuri Hotel, ITPL Main Road, Whitefield. With slim towers rising in an arc overlooking the Hoodi lake, this project promises its residents an uber luxurious living experience.

The project is a high rise with G+24 floors and offers thoughtfully designed 3 and 4 bedroom apartments ranging between 1750 sq ft. to 2800 sq ft. respectively with price starting from 1 Cr*. It also offers beautifully designed penthouses. The building sanction has been received and construction is poised to commence shortly. A limited number of units have been released for booking up to the 16th floor, at special pre-launch prices.

The strategic location of Vaswani Exquisite cuts down on the travel time for its future residents working in Whitefield area. With proximity to major IT parks, healthcare centres, educational and entertainment hubs, it is one of the most worthwhile investment options available in the market today.

Commenting on the launch of the project, Mr. Kailash Advani, Chief Executive Officer, (Southern Operations) Vaswani Group said, “With the presence of the Export Promotion Industrial Park and ITPL, Whitefield has become a hot-spot for most people in IT and ITeS sectors. Apart from corporate houses, well known educational institutions, business parks and commercial complexes have also come up in and around the area. With increasing demand in the micro-market, we saw an opportune time to prelaunch one of our most prestigious projects.”

Vaswani Group has always been a preferred real estate brand for customers who want to invest in projects that are designed for a lifestyle. With each project that we launch, we understand the requirements and changing demands of our customers and build homes around them. Vaswani Exquisite promises a life of serenity and calm post the hectic day-to-day work schedule” added Mr. Advani.

Among many features of this project, one that stands out is its lavish landscaping along with a scenic pool boulevard. It will also house an ultra-modern club house spread across nearly 30,000 sq ft, with an indoor multi-purpose community hall. The project provides many options to the residents to explore life beyond the four walls of their home. The residents can enjoy a splendid game of tennis in the floodlit tennis court with synthetic turf. With a team of international renowned architects and consultants and a location that overlooks the Hoodi lake, this Vaswani home is nothing less than Exquisite.

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M3M Group, India signs US $5 billion deal with Xian Ji Co. of China

M3M Group, India signs US $5 billion deal with Xian Ji Co. of China for Multi- Trade Exposition Centre’s in India


New Delhi: M3M Group, country’s leading ultra-luxury real estate developer, today announced their strategic tie- up with the Xian Ji Co. of China for massive Multi-Trade Exposition Centre’s in India. Both the companies signed a MoU for US $ 5 billion, planning to build an expansive new convention and exposition Centre in Gurgaon.


This unprecedented collaboration by the M3M Group, Real Estate Development leaders in India,

with one of the largest Chinese Corporations of China, follows hot on the footsteps of the recent meeting held between Prime Minister Narendra Modi and the Chinese Premier Xi Jinping on his last visit to India.


China has shown interest in partnering with India in the urban development sector, including the development of new smart satellite cities and large Expo Centre’s, to foster world trade employing mutual resources and talent. The top leadership of China conveyed its areas of interest during extensive talks that were held between the two great economies. During the talks, both sides decided to set up committees to further examine and concretize the areas of cooperation between the two countries in the context of India’s initiative to build 100 news smart cities.


Pankaj Bansal, Director-M3M Group, stated at a formal signing ceremony on the association between M3M and the Xinji Group, "This is a historic step taken by any Indian company, inspired by our honorable Prime Minister to 'Make in India'! We at the M3M Group are proud to sign this momentous MOU agreement to associate with one of China's best and largest Groups to develop world-class Maxi Expo Centre’s in India".


Commenting on the MOU, India's Consul General in Guangzhou, K Nagaraj Naidu said, “If materialized, such huge Expo-Centre’s could play a major role in showcasing India's products as the country lacks this facility, barring a few like in Pragathi Maidan. China has benefited immensely from developing huge expo- centres in several cities including Shanghai and Guangzhou by holding annual fairs attended by lakhs of buyers from abroad.”



These Centers will have large International Convention Arenas, Hotels, Exhibition Halls, Office Spaces, Retail Hubs and Universal Media Cities. In fact, this type of development will foster world trade for both countries. They will rival and supersede the likes of Pragati Maidan, the Melbourne Darling Harbour Centre and Seoul and Dubai Expo Cities!


M3M will be able to benefit from the experience of Xinji, as the corporation is well known for developing and providing every aspect of the hospitality industry. M3M has the knowledge, experience, land bank (2000 acres) to partner such a venture. Initial information regarding the agreement proposes a joint investment by both groups. A total investment of US $ 5 billion has been planned in over 5 years for the venture which will see numerous Maxi Expo Centers all across India as part of the satellite 'Smart City' concept of the Prime Minister of India. Total 1000 acre land has been identified in Gurgaon for this development.


About the Xinji Group of China


Xinji Group was founded in Panyu, Guangzhou in 1998. It has now developed into a mega corporate with a wide business scope covering real estate, exposition center of hotel supplies, exposition center of home furnishings, urban complex, tourism real estate, convention and exposition economy, international trade and star-rated hotels.


Xinji Group has over 20 subsidiaries with more than 30 projects in many parts of China. Over the past 16 years, Xinji has been expanding its business and set up a total of 6 headquarter bases in Guangzhou, Shenyang, Chengdu, Wuhan, Nantong and Hohhot with business in 32 major cities in the country.


At present, Xinji Group operates in a total area of 1.5 million square meters. With an area of 9 million square meters to be exploited, the Group has an abundance of land resources to offer.

Xinji Group has developed many high-impact projects of commercial and residential real estate including Dashi Furniture Town, Xinji Shaxi Exposition Center of Hotel Supplies, Fuli Plaza, Xinji Town and so on. The Group has become an exemplary player in the industry.


About the M3M Group of India

M3M Group is one of India's premiere business conglomerates with interests in Real Estate (Residential / Commercial / Retail), Hospitality, Education and IT / SEZs. The land bank exceeds 2000 acres of prime land with 11 million sq. ft. of built up space. The organization has already invested over USD 500 million in developing many iconic projects in North India. The projected business value of the organization exceeds USD 5 billion.


M3M has embarked upon 39 projects in Haryana. M3M Golf Estate, the 75 acre uber luxury resort-like residential complex is an example of it venture. This project has won many accolades and awards the world over at Dubai, London and San Francisco. Recently it won the award for the Best Luxury Project in India from NAREDCO, a Govt. of India patronized organization. The group is known for its philanthropist activities in uplifting the weaker sections of our society. M3M is also known to back healthy and clean living by promoting sports and games for the youth. The recent Polo tournaments were sponsored by the company.


M3M is an ardent supporter of all government initiatives. The company directors were part of the recent business delegation to Japan along with the PM and also accompanied the President of India, His Excellency Shri Pranab Mukherjee, to Finland and Norway.

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Real Estate Giant One Avighna Park ropes in White Rivers Digital to Handle Digital Marketing Duties

Real Estate Giant One Avighna Park ropes in White Rivers Digital to Handle Digital Marketing Duties

Mumbai :The luxury real estate boom is upon us and properties such as One Avighna Park have set the precedent for such firms to take their digital media presence seriously. The Lower Parel based high end apartment complex has roped in Mumbai's fast growing White Rivers Digital to handle this key portfolio

White Rivers Digital will help One Avighna Park curate it's digital identity on social media platforms. The key challenge for the agency will be creating relatable campaigns that helps breaks the monotony of everyday real estate talk.

Shrenik Gandhi, co-founder of WRD believes that this move marks the increasing importance of creating social stories for luxury real estate brands

"Real estate is about people. It's about those who build it, it's about the people for whom they build it. In that sense, One Avighna Park is not just prime property, it is a place where life happens. We are very excited to be handling Digital Marketing for market leaders in this space & look forward to some great digital stories!"

Shalini Dixit, General Manager – Marketing & Sales from One Avighna Park agrees with Gandhi and shares her enthusiasm for digital media promotion

Digital Media today is connecting well with the fastest growing segment of buyers aged between 30-45 years. Besides being cost efficient , this platform is an enabler to reach the right target audience and is also measurable. One Avighna Park being a Premium residential “By Invitation” project has entrusted White Rivers Digital to devise and implement a strategy to identify the right digital channels to enhance our brands web presence and gradually result in select web conversions.

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HDFC's Financial Results for the Quarter Ended June 30, 2012

Press Release

Mumbai, Maharashtra, India, Wednesday, July 11, 2012 -- (Business Wire India) -- The Board of Directors of Housing Development Finance Corporation Limited (HDFC) announced its results for the first quarter of the financial year 2011-12, following its meeting on Wednesday, July 11, 2012 in Mumbai. The accounts have been subject to limited review by the Corporation's statutory auditors in line with regulatory guidelines.

FINANCIAL RESULTS

For the quarter ended June 30, 2012, HDFC reported a profit after tax of ` 1,001.91 crores as compared to ` 844.53 crores in the corresponding quarter of the previous year - an increase of 19%.

TOTAL ASSETS

As at June 30, 2012, the total assets of HDFC stood at ` 1,74,676 crores as against ` 148,831 crores as at June 30, 2011 - an increase of 17%.

LENDING OPERATIONS

As at June 30, 2012, the loan book stood at ` 1,48,262 crores as against ` 1,24,168 crores as at June 30, 2011. Individual loans sold during the preceding 12 months amounted to ` 4,978 crores. The growth in the individual loan book, including loans sold is 29% (23% net of loans sold) whereas the non individual loan book grew by 14%. The growth in the total loan book inclusive of loans sold is 23% (19% net of loans sold).

During the quarter ended June 30, 2012 the loan book grew by ` 7,387.74 crores of which ` 6,635.07 crores - representing 90% of the increase was on account of the increase in the individual loan book.

For the quarter ended June 30, 2012, loan approvals grew by 17% and loan disbursements grew by 20% as compared to the corresponding quarter in the previous year.

Spread and Net Interest Margins

The spread on loans over the cost of borrowings for the quarter ended June 30, 2012 stood at 2.27%. Net Interest Margin for the quarter ended June 30, 2012 was 4%.

Investments

As at June 30, 2012, the unrealised gains on HDFC's listed investments amounted to ` 27,001 crores (previous year ` 23,206 crores). This excludes the appreciation in the value of unlisted investments.

Non-Performing Loans

Gross non-performing loans as at June 30, 2012 amounted to ` 1,190 crores. This is equivalent to 0.79% of the loan portfolio (previous year - 0.83%) This is the thirtieth consecutive quarter end at which the percentage of non-performing loans have been lower than the corresponding quarter in the previous year.

Based on a six months overdue basis, the non-performing loans as at June 30, 2012 stood at 0.49% of the loan portfolio as against 0.55% in the previous year.

The balance in the provision for contingencies account as at June 30, 2012 stood at ` 1,711 crores, of which only ` 344 crores is on account of regulatory provisioning for non-performing loans and the balance ` 1,367 crores mainly comprises general provisioning on standard loans, including Dual Rate Home Loans.

As against non-performing loans of ` 1,190 crores, the balance in the provision for contingencies account as at June 30, 2012 stood at ` 1,711 crores (inclusive of non-performing loans). This is equivalent to 1.14% of the portfolio.

CAPITAL ADEQUACY RATIO

HDFC's capital adequacy ratio stood at 14.6% of the risk weighted assets, as against the minimum requirement of 12%. Tier 1 capital was 11.8% against a minimum requirement of 6%.

DISTRIBUTION NETWORK

HDFC's distribution network spans 318 outlets that include 77 offices of HDFC's distribution company, HDFC Sales Private Limited (HSPL). In addition, HDFC covers over 90 locations through its outreach programmes. Distribution channels form an integral part of the distribution network with home loans being distributed through HSPL, HDFC Bank Limited and other third party direct selling associates.

To cater to non-resident Indians, HDFC has offices in London, Dubai and Singapore and service associates in Kuwait, Oman, Qatar, Sharjah, Abu Dhabi and Saudi Arabia - Al Khobar, Jeddah and Riyadh.

WARRANTS

In August 2009, the Corporation had issued 5,47,68,530 Warrants with a right exercisable by the Warrant holder to exchange each Warrant with one equity share of face value of ` 2 per share on or before August 24, 2012 at a Warrant exercise price of ` 600 per equity share. As at June 30, 2012, 16% of the Warrants have been exchanged for equity shares of the Corporation.

CONSOLIDATED ACCOUNTS

The Corporation intends to disclose the unaudited consolidated financial results on a quarterly basis. The consolidated financial results for the quarter ended June 30, 2012 will be disclosed shortly.

CONTACT DETAILS
Mahesh Shah, Housing Development Finance Corporation Limited, +91(22) 66316410, maheshs@hdfc.com

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