1st Quarterly Results as on 30-06-2003:

The Unaudited Financial Results of the Company for the quarter ended 30-6-2003 have been approved by the Board and were released by Shri S. B. Mathur, Chairman.

Income:

The Company's Total Income during the first quarter was Rs. 230.04 crores as against Rs.219.60 crores of the previous period showing a growth of 4.75%.

Profit:

As on 30.6.2003, the Company has shown Profit before Tax of Rs. 42.87 crores. After providing Rs. 11.00 crores for Tax, the Net Profit is Rs. 33.95 crores (after Deferred Tax asset) and a Prior Period Outgo to the tune of Rs. 9.55 crores relating to payment pursuant to invocation of Corporate Undertaking on Securitised Portfolio, as against Rs.33.59 crores in the previous corresponding period.

Lending Operations:

For the first quarter, in absolute terms, the amount Sanctioned is Rs. 944.78 crores and Disbursed is Rs. 921.21 crores.

The Outstanding Mortgage Portfolio as on 30-6-2003 is Rs. 8358.29 crores.

Place : Mumbai
Date : 28th July, 03