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Saturday, January 25, 2014

Dewan Housing net up 52% in third quarter

Dewan Housing Finance Ltd (DHFL) reported a 52 per cent jump in net profit at Rs 138 crore due to healthy loan growth in the third quarter ending December 31, 2013.

The housing finance company’s net profit in the corresponding quarter last year was Rs 91 crore.

Housing loans sanctioned as on December 31, 2013, grew 51 per cent, while disbursements were up 35 per cent. The firm securitised housing and property loans aggregating Rs 502 crore.

This quarter also witnessed some improvement in consumer sentiment and home buying on account of the festival season, especially in India's tier III and IV towns, said Kapil Wadhwan, Chairman and Managing Director.

Loan book outstanding as on December 31 increased 55 per cent to Rs 37,849 crore from Rs 24,340 crore.

Source: Thehindubusinessline


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