DHFL, one of India’s leading housing finance company, today announced its results for the first quarter ended June 30, 2017. The company registered a net profit growth of 29% to Rs 260 crore for the quarter ended June 30, 2017.
Assets under Management (AUM) grew by 23% quarter-on-quarter, reaching Rs 88,236 crore from Rs 72,012 crore as on June 30, 2017.
Commenting on the company’s financial performance, Mr. Kapil Wadhawan, Chairman and Managing Director, DHFL said, “DHFL has demonstrated strong performance and achieved several important growth oriented milestones in the first quarter of the new fiscal.The Government’s reform momentum continued this quarter as we witnessed some major initiatives with the introduction of new regime in the form of RERA, and reduction of LTV ratios. Given this landscape, DHFL has registered a steady growth of AUM reflecting the success of our growth strategies, business model and our commitment to the larger goal of enabling home ownership across India, all of which also encourages us to maintain the momentum to achieve our targets for FY18”.
He further added, “With the introduction of new policies by the government, the housing finance sector is poised for significant growth. DHFL has always been steadfast to its singular vision of financial inclusion across India and are continuing to adopt strategies to reach out to customers in semi urban and tier2 and 3 towns and help not only fulfill their dreams of home ownership but empower the family take a step towards a secured future.”
Performance Details for the quarter ended June 30, 2017 as compared to the corresponding quarter of the previous year:
- Net profit increased by 29% to 260 crore for the quarter ended June 30, 2017 as against Rs 201 crore in the corresponding quarter of the previous year
- Profit before tax rose by 26% to Rs 381 crore for the quarter ended June 30, 2017 as against Rs 303 crore in the corresponding quarter of the previous year
- Loan book outstanding grew 20% to Rs. 76,225 crore during the quarter ended June 30, 2017 as against Rs 63,647 crore in the corresponding quarter of the previous year
- Loan disbursements and sanctions were Rs 8,237 crore and Rs 10,863 crore, respectively for the quarter ended June 30, 2017, showing an increase of 33% and 23% respectively, over the corresponding period of the previous year
- Total Income was up by 23% to Rs. 2,408 crore during the quarter ended June 30, 2017 as against Rs 1,956 crore in the corresponding quarter of the previous year
- Gross NPA stood at 0.97% amounting to Rs 737 crore
- Net Interest Margin stood at 3.05%
DHFL’s average loan ticket size at the portfolio level stands at Rs 14.3 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.