Dewan Housing net profit climbs 18% to Rs 173 cr

Dewan Housing Finance Corporation Ltd has reported an 18 per cent increase in net profit at Rs 173 crore in the quarter ended June 30, 2015, as against Rs 147 crore in the year ago period.

In the reporting quarter, the housing finance company clocked 16 per cent increase in total income at Rs 1,653 crore (Rs 1,426 crore in the year ago period).

Total expenditure increased by 16 per cent at Rs 1,392 crore (Rs 1,203 crore).

DHFL reported 33 per cent increase in loan sanctions at Rs 7,858 crore (Rs 5,913 crore). Loan disbursements were up 14 per cent at Rs 4,938 crore (Rs 4,349 crore).


Source : Thehindubusinessline

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Dewan Housing Q4 net up 15% at Rs. 162 cr, to pay Rs. 2 final

Dewan Housing Finance Ltd reported a 15 per cent increase in net profit at Rs. 162 crore in the fourth quarter ended March 31, 2015, as against Rs. 141 crore in the year-ago period.

For the FY2015, the housing finance company clocked a 17 per cent rise in net profit at Rs. 621 crore (Rs 529 crore in FY2014).

The board of directors has recommended final dividend to be paid out of the current year profits at Rs. 2 per equity share of Rs. 10 each to equity shareholders.

Housing loans sanctioned during the reporting year were up 27 per cent at Rs. 28,497 crore. It disbursed loans aggregating Rs. 19,822 crore, up 19 per cent over the previous year.


Source : Thehindubusinessline

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Dewan Housing seeks small finance bank licence

Housing finance major Dewan Housing Finance Corporation Ltd (DHFL) has filed an application seeking a licence for a `Small Finance Bank’ from the RBI.

The foray into banking operations would enable DHFL `transform into a more robust and scalable business model’ that was aligned with its long-term growth aspirations.

In a filing with the stock exchanges, DHFL said it had filed an application seeking a banking licence from the RBI for `Small Finance Bank (SFB)’. The HFC has been in existence for more than 30 years, focussing on the lower and middle-income groups. It said its vision, if granted a licence, was to emerge as a `Big Bank for Small Finance’.

It would, however, maintain its focus on its `core capabilities geared towards financial inclusion’, the company statement said.

Shares of DHFL closed at Rs. 471.50 today, down by Rs. 5.45 in a weak market on the BSE.


Source : Thehindubusinessline

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DHFL Pramerica Life reports Q3 net profit at Rs. 23.68 cr

DHFL Pramerica Life Insurance reported its consolidated profit after tax for the quarter ending December at Rs. 23.68 crore.

The company had posted a loss of Rs. 77.61 crore for the corresponding period last year, it said in a statement.

The insurer garnered Rs. 162.88 crore in new business premium in the third quarter of the current fiscal.

“We will continue to look for ways to add value to our customers’ lives by strengthening our distribution, improving our service capabilities and offering differentiated product solutions.

“With our differentiated approach, we aim to become the most preferred life insurance partner for our customers and distributors,” DPLI Managing Director and CEO Anoop Pabby said.

The company currently insures over 3 million lives and has 69 branches across the country.

DPLI is a joint venture between Dewan Housing Finance Corporation (DHFL) and Prudential International Insurance Holdings (PIIH), a fully-owned subsidiary of Prudential Financial, a financial services leader headquartered in the U.S.


Source : Thehindubusinessline

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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.


beena.parmar@thehindu.co.in

Source: Thehindubusinessline

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DHFL Vysya Housing eyes 30% growth in disbursements

DHFL Vysya Housing Finance Ltd (DVHF) is confident of achieving at least a 30 per cent increase in home loan disbursements this fiscal, its Managing Director R. Nambirajan has said.

The company is targeting a disbursement level of about Rs 400 crore in the current fiscal, he told Business Line.

Last year, the housing finance company, which is part owned by Dewan Housing Finance, had disbursed Rs 272 crore, recording a near 35 per cent jump on a year-on-year basis.

Strong demand

Nambirajan said that there was strong demand for housing loans among the middle class and lower middle class, especially in tier-3 cities.

He ruled out any capital raising this fiscal, stating that the company had comfortable capital adequacy ratio of 18 per cent.

srivats.kr@thehindu.co.in

Source: thehindubusinessline

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Dewan Housing gets $85-m IFC loan

Dewan Housing Finance Ltd (DHFL) said that it has received $85-million loan from International Finance Corporation.

IFC, a member of the World Bank Group, has given this loan to DHFL to expand finance for affordable and energy-efficient housing in India.

“Of the total loan, IFC will provide $70 million through external commercial borrowings and it has committed an additional $15 million to finance green mortgages under the IFC-Canada Climate Change Program,” DHFL said in a statement.

Source: thehindubusinessline

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Dewan Housing Q2 net up 7% at Rs 129 cr

Dewan Housing Finance Ltd (DHFL) posted single digit growth in its second quarter net profit on a sequential basis as income remained muted due to a sluggish economy.

In the July-September quarter, the company posted a net profit of Rs 129 crore, a 7.5 per cent increase over the preceding quarter.

The housing finance company had merged First Blue Housing Finance Ltd earlier this year. So, the figures of corresponding quarter last year only reflects the profit of DHFL, which was at Rs 82 crore in the three months ended September 30, 2012.

Its revenue grew by a mere 3.6 per cent (or by Rs 41 crore) sequentially to Rs 1,166 crore.

At the end of September quarter this year, the company’s gross non-performing assets stood at 0.75 per cent of its total advances.

The company said that it has provided fully for potential losses in these loans.

DHFL expects to disburse loans worth Rs 15,000 crore in the full year.

So far, it has disbursed loans worth Rs 6,874 crore.

Much of the demand for home loans, the company spokesperson said, is coming from the outskirts of tier-I cities and from tier-II and tier-III cities.

The company declared its financial results after close of market hours on Monday.

However, during the course of trading, as reports came in that ace-investor Rakesh Jhunjunwala had picked up shares worth Rs 34 crore in the company, the scrip ended up 4.15 per cent at Rs 153.20 on the Bombay Stock Exchange.

satyanarayan.iyer@thehindu.co.in

Source: thehindubusinessline

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DHFL’s education loan arm Avanse eyes Rs 100-crore turnover

Avanse, a recent entrant in education finance market, is eyeing Rs 100 crore turnover milestone this fiscal—the first full year of its operations.

This non-banking finance company, which is a DHFL Group company, has set for itself a business target of Rs 3,000 crore-Rs 4,000 crore in five years, it’s Chief Executive Officer Neeraj Saxena told BusinessLine here.

Avanse Financial Services, which will provide only higher education loans, has opened its first brick-and-mortar branch in Delhi to cater to the growing demand for such loans in the National Capital Region.

Besides Dewan Housing Finance Ltd (DHFL), Avanse Financial Services also has IFC, which is part of the World Bank group, as an equity investor.

Notable private sector players in the education loan market include Credilla Ltd, a HDFC Ltd venture.

Public sector banks too had delved deep into the education loan market, largely on the prodding of the Government.

The total education loan portfolio for the banking sector stood at about Rs 53,000 crore (for 25 lakh accounts) as at end March 2013.

Saxena said that Avanse already had a tie-up with DHFL whereby it could use the latter’s office space in various parts of the country to sell educational loans.

Besides a corporate office at Mumbai, Avanse has a branch each at Pune and Delhi and may open another branch at Bengaluru.

Education loans from Avanse come at interest rates of 12.25 percent-13.5 percent, Saxena said.

Avanse provide 100 percent education finance without any margin money and cover studies both within India and abroad, he said.

Srivats.kr@thehindu.co.in

Source: thehindubusinessline

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Dewan Housing posts 54% jump in Q1 net

In line with the financial performance of other housing finance companies, Dewan Housing Finance Limited’s (DHFL) first quarter net profit soared 54 per cent, pushed up by strong demand for home loans from individual customers.

In the April-June period, the Mumbai-based company posted a net profit of Rs 120 crore, against Rs 78 crore a year ago. Total income increased 53 per cent to Rs 1,127 crore. The housing finance company’s total disbursements increased 35 per cent at Rs 3,615 crore during the quarter ended June 30.

Last week, the company’s larger peers — HDFC and Indiabulls Housing Finance — posted a 17 per cent and 31 per cent increase in first quarter net profit, respectively.

The housing finance companies have been seeing good demand for loans in tier-II and tier-III cities. Also, a higher loan amount disbursed by banks and home finance entities because of rising project costs is contributing to rising disbursements.

Shares of DHFL closed at Rs 160.10 per share, up 4.37 per cent, on the Bombay Stock Exchange.

satyanarayan.iyer@thehindu.co.in

Source: thehindubusinessline

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Dewan Housing Finance profit jumps 48% in FY13

Dewan Housing Finance Corp (DHFL) reported a 48 per cent increase in full-year net profit aided by strong growth in disbursements, especially in tier-II and tier-III cities.

In FY 2012-13, the home loan provider posted a net profit of Rs 452 crore against Rs 306 crore, a year ago.

Total disbursements during the year increased 47 per cent to Rs 13,358 crore.

The January to March quarter figures are not strictly comparable as the previous quarter’s results did not include the performance of recently amalgamated First Blue Home Finance Ltd.

The average ticket size of DHFL is Rs 14.89 lakh, Prashant Chaturvedi, CFO, said.

Net interest income, the difference between interest earned and interest expended, increased 28 per cent to Rs 764 crore.

Gross non per-forming assets for the year declined to 0.68 per cent as against 0.78 per cent, a year ago.

The board has recommended a dividend of Rs 3 a share.

DHFL shares closed at Rs 173.45, down 1.84 per cent, on the Bombay Stock Exchange. The results were declared after close of market hours.

satyanarayan.iyer@thehindu.co.in

Source: thehindubusinessline

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DHFL Vysya cuts housing loan interest rate, aims for 50% growth in FY14

South-based DHFL Vysya Housing Finance, an associate company of Dewan Housing (DHFL), has decided to reduce the interest rate in 0.2-0.5 per cent range on housing loans from April 1 while aiming for 50 per cent growth during 2013-14.

“We are the first among the HFCs to reduce rate of housing loan by 20 basis points for both existing and new customers under variable interest scheme. But, for the priority sector housing scheme for loan up to Rs 10 lakh there is additional rebate of 30 basis points,” DHFL Vysya Housing managing director R Nambirajan told PTI over phone.

One basis point is equal to 0.01 per cent. So, total benefit will be of 0.5 per cent for the new scheme for housing loans of up to Rs 10 lakh for a period of up to 11 years targeting the priority sector.

Nambirajan said the announcement in the budget for additional rebate of Rs 1,00,000 allowed in the interest on housing loans, in addition to Rs 1,50,000 already allowed from April 1, 2013 will induce boost demand from more the middle income groups in 2013-14.

“We hope to grow by over 50 per cent in 2013-14 against 30 per cent in the current fiscal,” he said.

Our disbursements in this fiscal will stand Rs 345 crore while, the same will jump to Rs 520 crore in the next year, Nambirajan said.


Source: thehindubusinessline

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DHFL cuts home loan rates

Mortgage lender Dewan Housing Finance Corporation (DHFL) cut its home loan lending rates by 0.25 per cent across categories for new customers.

This is a second rate cut by the lender within a month.

The variable rate of interest for loans of up to Rs 15 lakh has been cut to 10.75 per cent from 11 per cent, while for those above Rs 30 lakh but up to Rs 75 lakh will come at 11.25 per cent and those above Rs 75 lakh at 11.75 per cent, it said in a statement issued here.

It had earlier cut rates by 0.25 per cent on October 10.

The retail segment, especially the home loan vertical, is seeing some aggressive play by bankers in the recent months as the demand from the large borrowers is drying up due to gloomy economic conditions.

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Loan book growth lifts DHFL Q1 net

Housing finance company Dewan Housing Finance Corp. posted an 18 per cent increase in the first-quarter net profit at about Rs 78 crore against Rs 66 crore a year ago.

The company, whose main business is to provide loans for purchase or construction of residential houses, reported a 49 per cent increase in the first-quarter revenue at about Rs 739 crore (Rs 497 crore a year ago).

In an indicative trend that housing demand has not slowed, the Mumbai-based company’s loan book grew by about 40 per cent to Rs 21,397 crore in the first quarter of the current financial year (Rs 15,337 crore a year ago).

satyanarayan.iyer@thehindu.co.in

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Dewan Housing Q4 net jumps 60% at Rs 93.76 cr

Dewan Housing Finance Corporation Ltd (DHFL) on Friday posted 59.8 per cent jump in net profit at Rs 93.76 crore for the fourth quarter ended March 31, 2012.

The company had a net profit of Rs 58.65 crore in the same period in the previous fiscal, DHFL said in a statement.

Total income rose to Rs 721.11 crore during the quarter as against Rs 434.63 crore in the corresponding quarter last year.

For the year ended March, 2012, the company’s net profit grew by by 33.40 per cent to Rs 306.41 crore, as against Rs 265.13 crore in the last fiscal.

At the same time, total income of the housing finance firm increased to Rs 2,469.68 crore in 2011-12, compared to Rs 1,451.24 crore a year ago.

During 2011-12, home loan sanctions increased to Rs 12,845.30 crore as against Rs 8,949.48 crore in the previous fiscal, an increase of 43.5 per cent.

Disbursements rose to Rs 9,065.24 crore in compared to Rs 6,505.57 crore in 2010-11.

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Healthy loan growth boosts DHFL Q3 net 21%

Housing finance company, DHFL has posted a net profit of Rs 75 crore for the quarter ended December 2011, up 21 per cent from Rs 62 crore in the corresponding year-ago period.

Healthy growth in loan disbursements helped the company post good results.

During the quarter, disbursements grew by 49 per cent to Rs 2,280 crore (Rs 1,528 crore). Sanctions grew by 44 per cent to Rs 3,189 crore (Rs 2,214 crore). The total housing loan portfolio was Rs 25,224 crore as on December 31, 2011.

The percentage of net non-performing assets to total loans was at 0.17 per cent (0.39 per cent).

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Dewan Housing eyeing over 30% loan growth this fiscal

Banking on strong demand from semi-urban and rural areas, housing finance company, Dewan Housing Finance Ltd (DHFL), is targeting disbursements aggregating Rs 8,800 crore by March 2012, an increase of around 33 per cent over last year.

In July-September 2011, the disbursements had increased by 28 per cent to Rs 2,139 crore. Total disbursement in 2010-11 was Rs 6,505 crore.

The company is seeing between 35 per cent to 50 per cent growth in Punjab, parts of Tamil Nadu, Kerala and Gujarat. This trend is likely to continue, said Mr Anil Sachidanand, CEO, DHFL.

The company, on Tuesday, launched DHFL Express - Home loan on wheels, in Mumbai.

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