DHFL Q3 FY15 Net Profit grew by 15% YOY to INR160crores
Mumbai (Jan. 17, 2015): DHFL, India’s third largest housing finance Company, today announced its results for the third quarter ended December 31, 2014. The Company has registered a rise in Net Profit by 15%annualized, to INR 160crore for the quarter ended December 31, 2014.
Commenting on the performance, Mr. KapilWadhawan, Chairman and Managing Director, DHFL said, “The improving economic scenario and the Indian Government's emphasis on affordable housing has created an encouraging demand for home loans. DHFL’s concerted focus on reaching out to customers inthe low and middle income segment in tier 3, 4 and 5 locationshas helped us in maintaining a healthy loan portfolio and steady net profit growth during the third quarter of the 2014-15 financial year.
Easing of repo rates in yesterday’s RBI policy announcement is a welcome move and is expected to provide the much needed impetus to the affordable housing segment. This, I believe will benefit the sector and the consumer. It is my hope that the upcoming Union Budget will further provide impetus to the business.”
The Company retains its three decade old focus on enabling convenient and efficient financial access for every Indian to own a home of his own, through its wide network presence and product proposition. During the 9MFY15, DHFL has expanded its network strength taking its points of presence to over 570 locations. DHFL offers home loans to all customer segments across India, retaining its concerted focus on the low and middle income customer segment. Subsequently, DHFL’s average loan ticket size at the portfolio level stands at Rs11.6 lakhs. The Company’s total customer base is over 4 lakhs.
DHFL offers a range of home loan products including home loan, home extension loan, home improvement loan, plot loans, mortgage loan, leased rental finance and non-residential property loan. DHFL also offers project loans essentially for development of low and middle income housing projects.
Performance Details for the quarter ended December 31, 2014 as compared to the corresponding period of the previous year:
- Net Profit increased by 15% to INR 160 crore for the quarter ended December 31, 2014 as against INR 138crore in the corresponding quarter of the previous year
- Profit before tax rose by 23 % to INR 242 crore for the quarter ended December 31, 2014 asagainst INR 197crore in the corresponding quarter of the previous year
- Loan Book Outstanding grew 26 % to INR 47,776 crores as at quarter ended December 31, 2014 as against INR 37,849crore in the corresponding quarter of the previous year
- Loan disbursements and sanctions were INR 4,923crore and INR 7,072Crore, respectively for the quarter ended December 31, 2014
- Total Income up by 17 % to INR 1,527crore during the quarter ended December 31, 2014 as against INR 1,301crore in the corresponding quarter of the previous year
- Gross NPA stood at 0.77%
- Net Interest Margin stood at 2.77%