Aadhar Housing AnnualReport17-18

CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS
Consolidated

Significant Accounting Policies and Notes to the Accounts

for the year ended March 31, 2018

The following table sets out the funded status of the Gratuity and Compensated Absences benefit scheme and the
amount recognised in the Financial Statements:

i. Changes in Defined Benefit Obligation

(Rs. in Lakh)

For the year ended March 31, 2018

Particulars Gratuity Compensated
Absences
Liability at the beginning of the year
Acquired on amalgamation 104 163
Current service cost
Interest cost 119 347
Plan Amendment Cost
Actuarial (gain) /losses 75 165
Benefits paid
Liability at the end of the year 15 34

24 -

98 166

(20) (85)

415 790

ii. Changes in Fair Value of Plan Assets (Rs. in Lakh)

Particulars For the year ended March 31, 2018

Plan Assets at the beginning of the year Gratuity Compensated
Acquired on amalgamation Absences
Expected return on plan assets
Actuarial Gain/(Loss) 105 -
Employer Contribution
Benefits Paid 117 248
Plan Assets at the end of the year
23 24

(10) (1)

176 96

(4) -

407 367

iii. Reconciliation of Fair Value of Assets and Obligations (Rs. in Lakh)

Particulars For the year ended March 31, 2018

Fair value of Plan Assets at the end of the year Gratuity Compensated
Present Value of Obligation Absences
Amount Recognised in Balance Sheet
407 367

415 790

(8) (423)

iv. Expenses recognized in Statement Profit and Loss (Rs. in Lakh)

Particulars For the year ended March 31, 2018

Current Service Cost Gratuity Compensated
Interest Cost Absences
Expected Return on Plan Assets
Net Actuarial (Gain)/ loss to be recognized 75 165
Plan Amendment cost / Direct Payment
Expenses recognized in the profit and loss account under employee expenses 15 34

(23) (24)

108 167

25 21

175 343

Annual Report 2017 - 18 | 149

Significant Accounting Policies and Notes to the Accounts

for the year ended March 31, 2018

v. Actuarial Assumptions For the year ended March 31, 2018

Particulars Gratuity Compensated
Absences
Mortality Table
Discount Rate (Ultimate) (Ultimate)
Expected rate of return on plan asset (per annum)
Salary Escalation Rate 7.6% 7.6%

7.5% 7.5%

8% 8%

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and
other relevant factor including supply and demand in the employment market. The above information is certified by actuary.

The expected rate of return on plan asset is determined considering several applicable factors , mainly the composition of plan
asset held, assessed risks, historical result of return on plan assets and the Company’s policy for plan assets management.

vi. Amount recognised in current year and previous year
Gratuity :

For the For the For the For the (Rs. in Lakh)
year ended year ended year ended year ended
Particulars March 31, March 31, For the
March 31, 2017 2016 March 31, year ended
Defined benefit obligation 2018 2015
Fair value of plan asset 415 104 79 71 March 31,
(Surplus)/ Deficit in the plan 407 93 2014
Actuarial (gain)/loss on plan obligation 8 105 97 (22) 60
Actuarial gain/(loss) on plan asset 98 1 78
(10) (1) (18) 2 (18)
(6)
7 (4) (3)

--

Compensated Absences : For the For the For the For the (Rs. in Lakh)
year ended year ended year ended year ended
Particulars March 31, March 31, For the
March 31, 2017 2016 March 31, year ended
Defined benefit obligation 2018 2015
Fair value of plan asset 795 163 NA NA March 31,
(Surplus)/ Deficit in the plan 367 NA 2014
Actuarial (gain)/loss on plan obligation 428 - NA NA NA
Actuarial gain/(loss) on plan asset 135 NA NA
1 163 NA NA NA
NA
- NA NA

- NA

34. Employee stock option plan
Employee Stock Appreciation Rights Plan 2018 (“ESAR 2018” / “Plan”)

During the year, the Company has approved the ESAR 2018, which covers eligible employees of the Company. The scheme was
approved by the shareholders of the company and subsequently the Grant was approved by the Board and the Nomination and
Remuneration Committee at its meeting held on March 26, 2018.

ESAR 2018 plan will be effective from April 1, 2018.

150 | Aadhar Housing Finance Ltd.

CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS
Consolidated

Significant Accounting Policies and Notes to the Accounts

for the year ended March 31, 2018

35. Foreign currency transactions (Rs. in Lakh)
For the year ended
Particulars
Foreign business travel March 31, 2018
Directors sitting fees (IFC) 4
Total 3
7

36. Related party transactions
List of related parties with whom transactions have taken place during the year and relationship:

S.No Relationship Name of Related Party
1. Holding Company Wadhawan Global Capital Limited (Formerly Known as Wadhawan Global Capital
2. Enterprise having Significant Control Private Limited)
3. Wholly Owned Subsidiary International Finance Corporation (Washington)
4. Associate Companies Aadhar Sales and Service Private Limited
5. Other Group Companies Dewan Housing Finance Corporation Limited
DHFL Pramerica Life Insurance Company Limited
6. Key Management Personal DHFL General Insurance Limited
DHFL Sales and Services Private Limited
DHFL Pramerica Asset Manager
Avanse Financial Services Limited
Kapil Wadhawan – Chairman and Director
Deo Shankar Tripathi - Managing Director and CEO (w.e.f 21-11-2017)
Shri. R Nambirajan Managing Director (upto 02-07-2017)

Transactions with Related Parties:

Name Particulars (Rs. in Lakh)
For the year ended
Income : Intermediary Services
DHFL Pramerica Life Insurance Company Limited Intermediary Services March 31, 2018
DHFL General Insurance Limited Other Income
Dewan Housing Finance Corporation Limited 254
Expenditure: Services 283
Dewan Housing Finance Corporation Limited Rent
Dewan Housing Finance Corporation Limited Legal and Professional Fees 1
Dewan Housing Finance Corporation Limited Insurance Premium
DHFL Pramerica Life Insurance Company Limited Remuneration 83
Deo Shankar Tripathi – Managing Director and CEO Remuneration 152
Shri. R Nambirajan
Dividend Payment : Dividend Payment 6
Wadhawan Global Capital Private Limited Dividend Payment 6
Dewan Housing Finance Corporation Limited 191
Others : Proceeds received on allotment of Equity Shares 38
Wadhawan Global Capital Limited Proceeds received on allotment of Equity Shares
International Finance Corporation 651
73

5,000
6,500

Annual Report 2017 - 18 | 151

Significant Accounting Policies and Notes to the Accounts

for the year ended March 31, 2018

Balances with Related Parties: Particulars (Rs. in Lakh)
As at
Name Receivable
Payable March 31, 2018
Dewan Housing Finance Corporation Limited Deposit 20
Dewan Housing Finance Corporation Limited Receivable
Dewan Housing Finance Corporation Limited Deposit 105
DHFL Pramerica Life Insurance Company Limited Receivable 16
DHFL Pramerica Life Insurance Company Limited Deposit 71
DHFL General Insurance Limited 22
DHFL General Insurance Limited
168
20

37. Additional information as required by Paragraph 2 of the General Instructions for Preparation of Consolidated Financial Statements to
Schedule III to the Companies Act.

Net assets i.e. Total Assets minus Share of profit / (loss)
Total Liabilities

Name of the entity in the As % of Amount (Rs. in Lakh) As % of Amount (Rs. in Lakh)
consolidated As at Share of profit As at
Parent net assets March 31, 2018 March 31, 2018
Aadhar Housing Finance Limited
Direct Subsidiary 99.92% 69,893 109.25% 10,885
Aadhar Sales and Services Private Limited
0.08% 58 (9.25%) (922)

38. These consolidated financial statements are Group’s first financial statements considering subsidiary company is incorporated during
the current financial year, hence comparable for the previous year are not available.

In terms of our report attached. For and on behalf of the Board of Directors
For Chaturvedi S.K. & Fellows
Chartered Accountants For Deloitte Haskins & Sells LLP Kapil Wadhawan Deo Shankar Tripathi
ICAI FRN:112627W Chartered Accountants Chairman Managing Director & CEO
Srikant Chaturvedi ICAI FRN : 117366W/W-100018 DIN 0028528 DIN 07153794
Partner G.K Subramaniam
ICAI MN: 070019 Partner Suresh Mahalingam Sridar Venkatesan
ICAI M N : 109839 Director Director
Place: Mumbai DIN 01781730 DIN 02241339
Dated: April 24, 2018 Place: Mumbai
Dated: April 24, 2018 G. P. Kohli Sasikala Varadachari
Director Director
DIN 00230388 DIN 07132398

Anmol Gupta Srikant V.N.
Chief Financial Officer Company Secretary

152 | Aadhar Housing Finance Ltd.



[Formerly Known as DHFL Vysya Housing Finance Ltd]

www.aadharhousing.com

Registered Office
Aadhar Housing Finance Ltd.

CIN: 66010KA1990PLC011409
2nd Floor, No. 03, JVT Towers, 8th ‘A’ Main Road, S.R. Nagar,

Bengaluru - 560 027, Karnataka
Toll Free: 1800 3004 2020

Corporate Office

201, Raheja Point-1, Nr. Shamrao Vitthal Bank, Nehru Road, Vakola, Santacruz (E), Mumbai - 400 055
Ph: +91 22 3950 9900 | Fax: +91 22 3950 9934