Dewan Housing Finance (DHFL) on Monday reported 25.8% growth in net profit to Rs 312.4 crore for the three-months to March 2018 as compared with Rs 248.2 crore during the same quarter in 2017 because of higher home loan disbursements, especially in the affordable housing segment.
Dewan Housing Finance (DHFL) on Monday reported 25.8% growth in net profit to Rs 312.4 crore for the three-months to March 2018 as compared with Rs 248.2 crore during the same quarter in 2017 because of higher home loan disbursements, especially in the affordable housing segment. The mortgage lender’s total income grew 18% to Rs 2,808.2 crore in the fourth quarter ended March this year as compared with Rs 2,377.7 crore in the corresponding quarter last year. Loan book outstanding grew 28% to Rs 91,932 crore during the quarter ended March this year as against Rs 72,096 crore in the corresponding quarter of the previous year. For the entire financial year 2017-18, the company reported 26% rise in net profit of Rs 1,172.1 crore as against Rs 927 crore in 2016-17.
Total income of the mortgage lender grew 18% to Rs 10,464.5 crore as against Rs 8,857.2 crore during the same period. The company’s loan book outstanding grew 28% to Rs 91,932 crore in FY18 as against Rs 72,096 crore in FY17. Net Interest Margin stood at 3.04% while Asset Under Management (AUM) grew 33% to Rs 111,086 crore for the year ended March 31, 2018. Gross NPA stood at 0.96% at the end of March 31, 2018.
The board has recommended final dividend of Rs 2.5 per equity share to the equity shareholders. The total dividend, including interim, is Rs 5.50 per equity share. DHFL offers a range of home loan products including home loan, home extension loan, home improvement loan, plot loans, mortgage loan and non-residential property loan.
Kapil Wadhawan, chairman of DHFL, says FY18 has been encouraging for the housing finance sector which witnessed several growth-oriented initiatives and industry defining policy measures undertaken by the government. “DHFL’s focus is towards maintaining its leadership in an exciting landscape, leveraging its competitive strengths and expanding customer outreach strategies in Tier 2/3 towns through unique initiatives like Griha Utsav exhibitions,” he says.
On portfolio diversification, DFHL has for the first time raised $150 million by issuing masala bonds on the London Stock Exchange, making it’s debut listing in the international market.