APPLICANT'S UNDERTAKING HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED

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“IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS”DETAILS PERTAINING TO THE COMPANYGENERAL INFORMATIONOur Company was incorporated as Housing and Urban DevelopmentFinance Corporation Private Limited on April 25, 1970 as aprivate limited company under the Companies Act and was granteda certificate of incorporation by the then Registrar of Companies,Delhi. Subsequently the name of our Company was changed to itspresent name and a fresh certificate of incorporation dated July 9,1974 was issued by the then Registrar of Companies, Delhi andHaryana. For further details, see the section titled “History andCertain Corporate Matters” on page 72 of the Shelf Prospectus.Our Company was notified as a public financial institution underSection 4A of the Companies Act, on December 9, 1996. The Presidentof India holds 100% of the paid up equity share capital of ourCompany, either directly or through nominee shareholders.Registered and Corporate OfficeHUDCO Bhawan, Core- 7A, India Habitat CentreLodhi Road, New Delhi - 110003Telephone: +91 11 2464 9610, Facsimile: +91 11 2464 8179Website: www.hudco.orgRegistrationDetailsRegistration/Identification numberCompany registration number 005276CINU74899DL1970GOI005276NHB registration classifying the Company 01.0016.01as housing finance companyAddress of the Registrar of CompaniesThe Registrar of CompaniesNational Capital Territory of Delhi and Haryana4 th Floor, IFCI Tower, 61, Nehru PlaceNew Delhi 110 019, IndiaTelephone: +91 11 2623 5704, Facsimile: +91 11 2623 5702CAPITAL STRUCTUREDetails of equity share capitalThe following table lays down details of our authorised, issued,subscribed and paid up Equity Share capital as on June 30, 2013.ParticularsAuthorised share capital25,000,000 Equity Shares 2,500.00Issued, subscribed and paidup Equity Share capital20,019,000 Equity Shares 2,001.90Securities premium account NILAggregate value(` in crores)Name/DIN/Address/ Nationality Date of Designation OtherOccupation Appointment DirectorshipsMr. Veerappa Indian April 11, 2011 Chairman and • Bangalore Metro RailParameshwarappa Managing Corporation LimitedBaligar Director • Delhi Mumbai IndustrialDIN: 00850615Corridor DevelopmentAddress: Flat No. 235,Corporation LimitedMalwa Singh Block,Khelgaon Marg, AsianGames Village Complex,New Delhi – 110049Occupation: ServiceMr. Nand Lal Manjoka Indian April 11, 2013 Director -DIN: 06560566Address: C-28, Ground Floor,Jungpura (Near SanatanDharam Mandir) SO,New Delhi – 110014Occupation: ServiceMr. Anil Kumar Kaushik Indian May 30, 2013 Director -DIN: 06600755Address: P-290, Sector 12,Pratap Vihar,Ghaziabad-201009,Uttar PradeshOccupation: ServiceMr. Karan Bir Singh Indian August 30, Director • Hindustan Prefab LimitedSidhu 2013DIN: 03128133Address: House no. 60,Sector 19A,Chandigarh - 160019Occupation: ServiceMr. Naresh Salecha Indian January 2, Director • Hindustan Prefab LimitedDIN: 00843812 2013 • National BuildingAddress: 253/2A,Construction CorporationRailway Colony,LimitedPanchkuian Road,• Kolkata Metro RailNew DelhiOccupation: ServiceCorporation Limited• Delhi Metro RailCorporation LimitedProf. Dinesh Indian January 16, Director Bhikhubhai Mehta 2012DIN: 01957927Address: 501/A,Shantanu Apartments,Azad Society, Ahmedabad,Gujarat- 380 015Occupation: EmeritusprofessorshipMr. Virender Ganda Indian February 9, Director -DIN: 01013057 2012Address: ‘Vishvas’ C-20,South Extension, Part-II,New Delhi-110049Occupation: ProfessionalProf. Sukhadeo Thorat Indian October 10, Director -DIN: 06414412 2012Address: House No. 23,Dakshina Puram Campus,Jawahar lal Nehru University,New Delhi - 110067Occupation: ProfessionalFor further details, please refer section “Our Management” onpage 76 of the Shelf Prospectus.Debt Equity RatioDetails of change in authorized share capitalThere have been no changes in our authorised Equity Share capitalin the last five years.For further details, please refer section “Capital Structure” onpage 43 of the Shelf Prospectus.OUR MANAGEMENTBoard of DirectorsPursuant to the Articles of Association, our Company is requiredto have not less than three and not more than ten Directors. Currently,our Company has eight Directors on the Board out of which The long term debt to equity ratio of our Company prior to thisLong term debt to equity ratio:three are executive Directors, two are government nominee nonexecutiveDirectors and three are independent Directors. crores, and shareholders’ funds, amounting to ` 6,427.11 croresIssue is based on a total long term outstanding debt of ` 16,739.52The following table sets forth details regarding the Board as on which was 2. 60 times as on March 31, 2013 The long term debt todate of the Shelf Prospectus.equity ratio post the Issue (considering full subscription of `5,000 crores, being the amount allocated by CBDT for our Com-30 HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED
“IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS”pany to raise through the Bonds), based on a total long termoutstanding debt of ` 21,739.52crores and shareholders’ funds of` 6,427.11 crores, will be 3.38 times, the details of which are asunder:(In ` crores)Particulars Prior to the Issue Post-Issue *(as on March 31, 2013)DebtShort term debt 2,127.99 2,127.99Long term debt 16,739.52 21,739.52Total debt 18,867. 51 23,867. 51Shareholders’ fundShare capital 2,001.90 2,001.90Reserves and surplus** excluding 4,425.21 4,425.11revaluation reserve, CSR, WelfareReserve, Sustainable DevelopmentReserve and R&D reserveTotal shareholders’ funds 6,427.11 6,427.11Long term debt/ equity 2.60 3.38Total debt/ equity 2.94 3.71*Assuming that entire amount allocated through the CDBT Notificationbeing ` 5,000.00 crore (including `190.80 crore raisedby way of private placement of tax free bonds allotted on September2, 2013) will be fully subscribed and there is no changein our shareholders’ funds, long and short term debt.**excluding revaluation reserve, CSR, Welfare Reserve, SustainableDevelopment Reserve and R&D reserveSUMMARY FINANCIAL INFORMATIONStatement of Assets & Liabilities(` in crore)S . Particulars As at 31 st As at 31 st As at 31 st As at 31 st As at 31 stNo. March 2013 March 2012 March 2011 March 2010 March 2009I EQU ITY AND LIAB ILIT IES(1) Share Holders’ Funds(a) Share Capital 2, 00 1. 90 2, 00 1. 90 2, 00 1. 90 2, 00 1. 90 2, 00 1. 90(b) Reserves and Surplus 4, 51 2. 06 3, 98 6. 99 3, 51 9. 07 3, 09 5. 19 2, 66 5. 96Sub-Total (1) 6 , 5 1 3 . 9 6 5 , 9 8 8 . 8 9 5 , 5 2 0 . 9 7 5 , 0 9 7 . 0 9 4 , 6 6 7 . 8 6(2) Non-current L iabilities(a) Long-term Borrowings 13 ,50 4. 40 13 ,71 3. 59 9, 53 1. 54 11 ,25 5. 93 14 ,71 8. 72(b) Deferred Tax Liabilities (Net) 4 16 .3 9 3 50 .3 7 2 81 .8 5 2 37 .3 6 2 34 .3 9(c) Other Long-term Liabilities 1 04 .1 5 5 1. 7 4 1 19 .7 1 1 28 .9 0 1 96 .0 8(d) Long-term Provisions 2 19 .2 3 2 11 .8 3 1 63 .4 0 1 43 .0 1 1 68 .4 3Sub-Total (2) 1 4 , 2 4 4 . 1 7 1 4 , 3 2 7 . 5 3 1 0 , 0 9 6 . 5 0 1 1 , 7 6 5 . 2 0 1 5 , 3 1 7 . 6 2(3) Current Liabilities(a) Short-term Borrowings 4 8. 5 4 - 1 00 .0 0 2 20 .0 0 -(b) Trade Payable 1 8. 7 8 3 1. 1 0 1 0. 7 2 1 0. 4 6 1 0. 1 5(c) Other Current Liabilities 5, 89 4. 90 6, 92 8. 91 6, 86 1. 00 4, 82 1. 53 5, 26 4. 41(d) Short-term Provisions 2 28 .8 0 2 17 .0 5 1 47 .7 4 6 9. 1 4 5 3. 2 2Sub-Total (3) 6 , 1 9 1 . 0 2 7 , 1 7 7 . 0 6 7 , 1 1 9 . 4 6 5 , 1 2 1 . 1 3 5 , 3 2 7 . 7 8Total (1+2+3) 2 6 , 9 4 9 . 1 5 2 7 , 4 9 3 . 4 8 2 2 , 7 3 6 . 9 3 2 1 , 9 8 3 . 4 2 2 5 , 3 1 3 . 2 6II A S SE T S(1) Non-current Assets(a) Fixed Assets(i) Tangible Assets 7 1. 0 6 7 1. 3 7 7 4. 2 0 6 8. 8 8 7 1. 9 5(ii) Intangible Assets - 0 .0 1 0 .0 1 0 .0 1 0 .0 2(iii) Capital work-in-progress 1 7. 6 5 1 3. 8 7 1 1. 8 1 9 .5 8 9 .0 78 8 . 7 1 8 5 . 2 5 8 6 . 0 2 7 8 . 4 7 8 1 . 0 4(b)Non-current Investments 6 83 .9 8 8 13 .9 8 1, 22 3. 98 1, 29 8. 98 1, 52 3. 98(c) Long-term Loans and Advances 21 ,14 1. 78 19 ,11 1. 64 16 ,36 6. 74 14 ,80 3. 89 16 ,48 2. 28(d) Other Non-current Assets - - 6 .4 0 1 .8 5 -Sub-Total (1) 2 1 , 9 1 4 . 4 7 2 0 , 0 1 0 . 8 7 1 7 , 6 8 3 . 1 4 1 6 , 1 8 3 . 1 9 1 8 , 0 8 7 . 3 0(2) Current Assets(a) Current Investments - 4 10 .0 0 7 5. 0 0 2 25 .0 0 5 19 .2 1(b) Trade Receivable 1 0. 6 0 1 2. 5 2 1 6. 5 7 1 2. 1 5 2 1. 8 2(c) Cash and Bank Balances 6 96 .7 7 2, 77 8. 84 7 16 .2 0 7 55 .8 6 1, 05 2. 38(d) Other Current Assets 4, 32 7. 31 4, 28 1. 25 4, 24 6. 02 4, 80 7. 22 5, 63 2. 55Sub-Total (2) 5, 03 4. 68 7, 48 2. 61 5 , 0 5 3 . 7 9 5 , 8 0 0 . 2 3 7 , 2 2 5 . 9 6Total (1+2) 2 6 , 9 4 9 . 1 5 2 7 , 4 9 3 . 4 8 2 2 , 7 3 6 . 9 3 2 1 , 9 8 3 . 4 2 2 5 , 3 1 3 . 2 6Statement of Profits(` in crore)S . Particulars Year Ended Year Ended Year Ended Year Ended Year EndedNo. 31 st March 31 st March 31 st March 31 st March 31 st March2 0 1 3 2 0 1 2 2 0 1 1 2 0 1 0 2009I I nc om eII Revenue from Operations 2, 86 6. 35 2, 73 8. 36 2, 26 3. 46 2, 42 1. 80 2, 69 7. 93III Other Income 5 6. 8 9 4 0. 2 7 1 5. 1 3 1 06 .5 5 1 5. 2 5IV Total R evenue (II+III) 2 , 9 2 3 . 2 4 2 , 7 7 8 . 6 3 2 , 2 7 8 . 5 9 2 , 5 2 8 . 3 5 2 , 7 1 3 . 1 8V E xp en se s(i) Finance Cost 1, 56 7. 92 1, 62 9. 08 1, 27 3. 27 1, 41 3. 76 1, 90 4. 14(ii) Employee Benefits Expense 1 22 .3 0 1 10 .5 2 1 14 .4 5 9 2. 4 8 7 5. 7 5(iii) Depreciation and Amortisation 4 .9 6 4 .6 0 1 1. 4 2 4 .5 2 4 .6 7(iv) Other Expenses 5 0. 6 8 5 0. 6 4 2 9. 4 0 2 3. 2 7 2 4. 2 8(v) Provision on Loans 1 33 .0 0 3 7. 1 8 2 7. 8 0 2 10 .6 7 -65.35(vi) Provision on Debtors/recoverables, 2 .3 9 6 .7 1 1 .4 3 0 .1 4 0 .1 5other loans and advances(vii) Provision on Investment - - - - 0 .1 6Total E xpenses (V) 1 , 8 8 1 . 2 5 1 , 8 3 8 . 7 3 1 , 4 5 7 . 7 7 1 , 7 4 4 . 8 4 1 , 9 4 3 . 8 0VI Profit before exceptional, 1, 04 1. 99 9 39 .9 0 8 20 .8 2 7 83 .5 1 7 69 .3 8extraordinary Items and tax (IV-V)VII Exceptional Items - - - - -VIII Profit before extraordinary Items 1 , 0 4 1 . 9 9 9 3 9 . 9 0 8 2 0 . 8 2 7 8 3 . 5 1 7 6 9 . 3 8and tax (V I-VII)IX Extraordinary Items - - - - -X Prior period adjustments 1 9. 7 1 0 .0 7 0 .2 9 0 .8 7 6 .2 5XI Deferred Tax Liability for prior - - - - (120.96)years transferred to General ReserveXII Profit Before Tax (VIII-IX-X) 1 , 0 6 1 . 7 0 9 3 9 . 9 7 8 2 1 . 1 1 7 8 4 . 3 8 6 5 4 . 6 7XIII Tax Expense(i) Current tax -295.50 (250.00) (223.79) (267.71) (184.41)(ii) Deferred tax (6 6. 01 ) (68.52) (44.49) (2.97) (71.07)(iii) Fringe benefit tax - - - - (0.85)(iv) Adjustment of tax of 0 .3 7 8 .8 8 (2.80) (18.39) 2 .6 5earlier years (Net)Total Tax Expense XII (i+ii+iii) ( 36 1 . 14 ) ( 30 9 . 64 ) ( 27 1 . 08 ) ( 28 9 . 07 ) ( 25 3 . 68 )XIV Profit for the period (XI+X II) 7 0 0 . 5 6 6 3 0 . 3 3 5 5 0 . 0 3 4 9 5 . 3 1 4 0 0 . 9 9X VEarnings per Share( Face value ` 1000 )(Refer S.No 16 of Note No 26 -Explanatory Notes)(1) Basic 3 4 9 . 9 5 3 14 .8 7 2 74 .7 5 2 47 .4 2 2 00 .3 0(2) Diluted 3 4 9 . 9 5 3 14 .8 7 2 74 .7 5 2 47 .4 2 2 00 .3 0Note: The Notes referred to above form an integral part of theFinancial Statements. For further details of Financial Information, please refer to Annexure - A of the Shelf Prospectus. For limitedreview Financial for the three months ended June 30, 2013 pleaserefer to page 102 of the Shelf Prsopectus.HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED31
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APPLICANT'S UNDERTAKING HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED

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