Mumbai: DHFL, one of India’s leading housing finance companies, today announced a net profit growth of 18.14 % in the first half of the 2015-16 financial year ending September 30, 2015 in comparison to the corresponding period of the previous financial year. The second quarter of the current financial year also witnessed a net profit growth of 18.51%, when compared with the corresponding period of the 2014-15 financial year.
Assets Under Management (AUM) grew by 27.31% year-on-year, reaching close to Rs 63,000 crore from Rs 50,000 crore as on September 30, 2014.
Performance Details for the quarter ended September 30, 2015 as compared to the corresponding period
of the previous year:
• Net profit increased by 18.51% to 180.36 crore for the quarter ended September 30, 2015 as against Rs 152.19 crore in the corresponding quarter of the previous year
• Profit before tax rose by 21.65 % to Rs 277.33 crore for the quarter ended September 30, 2015 as against Rs 227.97 crore in the corresponding quarter of the previous year
• Loan Book Outstanding grew 25.86% to Rs.56,312 crore during the quarter ended September 30, 2015 as against Rs 44,742 crore in the corresponding quarter of the previous year
• Loan disbursements and sanctions were Rs 5014 crore and Rs 7668 crore, respectively for the quarter ended September 30, 2015, showing an increase of 17.75% and 25.18% respectively, over the corresponding period of the previous year
• Total Income is up by 25.09% to Rs 1811.63 crore during the quarter ended September 30, 2015 as against Rs 1,448.32 crore in the corresponding quarter of the previous year
• Gross NPA stood at 0.81% amounting to Rs 454.39 Cr
• Net Interest Margin stood at 2.89%
Commenting on the performance, Mr. Kapil Wadhawan, Chairman and Managing Director, DHFL said, “Our positive H1 results can be attributed to DHFL’s concerted focus on providing affordable housing finance to the low and middle income customer segment in the tier 2 and 3 towns. The company has recorded a robust growth in AUM and net profit due to the right product mix and attractive interest rates starting at 9.55% which is a festive offering that would further enable every Indian to own a home.”
He further added, “This quarter performance has once again demonstrated that the company is on a sustained growth path. We are positive that the decision of RBI to cut rates coupled with a strong demand for affordable housing will enable us to deploy more capital thereby boosting growth in the coming quarters.”
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. DHFL’s average loan ticket size at the portfolio level stands at Rs 11.7 lakhs.
DHFL offers an array of Fixed Deposit Products for public including individual and trust investors that ensure high yield, safety and liquidity. DHFL Fixed Deposit Products for individual investors also offer an accidental insurance cover of Rs. 1 Lakh free of cost to customers. DHFL Fixed Deposit Products are rated CARE AAA and BWR (FAAA) ensuring high safety. Further, DHFL offers value-added and customized insurance solutions, along with its home loan products. Additionally, DHFL also offers project loans essentially for development of low and middle income housing projects.
Your email address will not be published. Required fields are marked *
Futuristic super-thin metal could create ‘solar-panel shirts’
Mahindra launches the All-New TUV300 PLUS
IndiQube raises INR 100cr (USD 15mn) Equity from WestBridge Capital
2014 The Global Indian New Network (TGINN)