DHFL Clocks Steady 25% Profit Growth In Q3
Housing finance company also sees its assets under management cross the Rs 1 lakh mark
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DHFL registered a profit growth of 25% to Rs 305.9 crore for the quarter ended December 31, 2017. One of India’s oldest housing finance company, DHFL has also seen its loan book outstanding increase by 21.8% to Rs 83,962 crore over the corresponding period last year.
DHFL’s assets under management grew by 29.4% in the same period and crossed the Rs one lakh mark and touched Rs 1,01,286 crore for December.
DHFL’s profit before tax rose tax rose by 24.2% to Rs.461.7 crore against Rs.371.7 crore in FY16. Loan disbursements and sanctions were Rs.10,846 crore and Rs.16,552 crore, respectively for the quarter ended December 31, 2017, showing an increase of 53.6% and 75% respectively, over the corresponding period of the previous year
DHFL’s total Income surged 11.5 % to Rs. 2,643.2 crore as against Rs.2,362.6 crore last year. Gross NPA stood at 0.96 % amounting to Rs. 806 crore. DHFL has a steady net interest margin of 3.03 percent.
DHFL’s average loan ticket size at the portfolio level stands at Rs.14.5 lakhs. DHFL offers a range of home loan products including home loan, home extension loan, home improvement loan, plot loans, mortgage loan, project loan, SME Loan and non-residential property loan to all customer segments across India, retaining its concerted focus on the low and middle income segment.
Commenting on the company’s financial performance in the Quarter ended December 31, 2017, Mr. Kapil Wadhawan, Chairman and Managing Director, DHFL said, “The quarter has been truly significant and a mile stone one for DHFL in taking asset under management over the Rs1 lac crore mark. It is a proud moment for all of us on achieving this distinction while retaining thrust on the low and middle income segment, thus fulfilling our Founder’s dream set 30 years ago of building the Company with a focus on inclusive lending as its core strength.”
The company operates in the affordable housing segment with average loans ranging about Rs 15-17 lakh. The housing finance company organized over 23 GrihaUtsav exhibitions in tier 2 and 3 locations. The firm also has 350 distribution locations.
Says Wadhawan: “Through aggressive efforts to promote financial awareness to drive the CLSS scheme and unique initiatives like GrihaUtsav, DHFL continues to play an active role to realize the Government’s vision of ‘Housing for All’ by 2022.’”