Highlights for Q3 FY18 ended December 31, 2017 on Y-O-Y basis.
Pune: DHFL, one of India’s leading housing finance companies, today announced its results for the third quarter ended December 31, 2017. The company registered a net profit growth of 25% to Rs. 305.9 crore for the quarter ended December 31, 2017.
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 disbursement growth of 53.6% amounting to Rs 10,846 cr is yet another significant mark this quarter, which speaks of the momentum gained by the team to harness growth potential in the affordable home segment through close engagement with customers and developers alike. This robust growth, is an outcome of our continued efforts towards expansion strategies to widen financial inclusion across India. DHFL’s Griha Utsavs continue to play a key role in our growth strategy to connect with millions of aspirational home buyers, facilitate access to affordable housing developers and offer customized financial solutions across India. Over the past six months, we organized 23 Griha Utsav exhibitions in tier 2 and 3 locations to provide the LMI segment, easy access to affordable finance and housing options. We are actively leveraging our extensive distribution network across 350 locations in India – one of the largest in the industry, to ensure higher productivity, performance and loan disbursements from each center. We are also leveraging technology to strengthen our operating efficiencies, enrich our customer experience and expand outreach specifically to the target LMI group in Tier 2 and 3 towns. Through aggressive efforts to promote financial awareness to drive the CLSS scheme and unique initiatives like Griha Utsav, DHFL continues to play an active role to realize the Government’s vision of ‘Housing for All’ by 2022.
While 2017 has laid the foundation for a growth-oriented ecosystem for the Affordable Housing sector, 2018-19 holds stronger potential for greater progress. With strong business fundamentals and core organizational growth drivers in place, DHFL is well placed to capitalize on industry opportunities and is committed to its mission to bring transformational changes in the lives of its customers.”
Performance Details for the quarter ended December 31, 2017 as compared to the corresponding quarter of the previous year:
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.
Union Budget Recommendations 2018
While the Housing Industry is accelerating its efforts towards realizing the Government’s vision of ‘Housing for All by 2022’, we anticipate continued vigor and thrust to the Housing Finance industry through several positive amendments in the Union Budget 2018:
Awards & Recognition
DHFL’s Chairman and Managing Director, Kapil Wadhawan was awarded the title of Best CEO in the Financial Services category by Business Today, at their flagship event BT MindRush on January 13, 2018. Mr. Wadhawan was unanimously chosen by a high-powered jury, based on a rigorous evaluation of DHFL’s performance under his leadership over the past three decades. A quantitative and qualitative assessment of the group’s total stakeholder returns, revenue and profit growth was conducted to arrive at this decision.
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