Chennai, October 16, 2017: DHFL, one of India’s leading housing finance companies, today announced its results for the second quarter ended September 30, 2017. The company registered a net profit growth of 26.1% to Rs 293.3 crore for the quarter ended September 30, 2017.
- Assets under Management (AUM) grew by 25.1% yoy reaching to Rs 94,089 crore for the quarter ended September 30, 2017 from Rs 75,223 crore in the corresponding quarter of the previous year.
- Loan Book Outstanding grew 24.6% to Rs 81,390 crore for the quarter ended September 30, 2017
Commenting on the company’s financial performance, Mr. Kapil Wadhawan, Chairman and Managing Director, DHFL said, “DHFL has been reporting a steady growth in its AUM which reflects the success of its business strategies and the company is on course towards its growth targets for FY 18. On an overall basis, the affordable housing industry continues to be on a high growth trajectory supported by the several steps taken by the government to achieve its Housing for All objective by 2022. Over the last few months, DHFL has already undertaken several key growth-oriented initiatives to capitalize on industry opportunities and it continues to implement those efforts to fulfill its mission of enabling home ownership across India.” The quarter was also marked by the adoption of the new GST regime as India adopts a more efficient, transparent and a leaner taxation environment, which is expected to spur growth prospects of all key sectors of the economy.
Mr. Wadhawan added, “For DHFL the second quarter has been another period of commendable growth. The company remained focused on expanding its customer outreach strategies in Tier 2 /3 towns through the unique DHFL Griha Utsav in a first-time initiative which is well aligned to the Government’s vision of Housing For All by 2022. We also put in place measures to enhance internal efficiencies through the establishment of Central Processing Unit in Mumbai & Hyderabad. This will significantly expand the bandwidth of the sales team enabling them to concentrate on their sales activities, allowing a faster turnaround time, strengthening risk management and more importantly enable respective teams to focus on enhancing core competencies. With strong business fundamentals and core organizational growth drivers in place, DHFL is actively implementing its business growth strategies to bring positive transformational changes in the lives of its customers.”
Performance Details for the quarter ended September 30, 2017 as compared to the corresponding quarter of the previous year:
- Net profit increased by 26.1% to 293.3 crore for the quarter ended September 30, 2017 as against Rs 232.6 crore in the corresponding quarter of the previous year
- Profit before tax rose by 23.2% to Rs 434.1 crore for the quarter ended September 30, 2017 as against Rs 352.2 crore in the corresponding quarter of the previous year
- Loan book outstanding grew 24.6% to Rs.81,390 crore during the quarter ended September 30, 2017 as against Rs 75,223 crore in the corresponding quarter of the previous year
- Loan disbursements and sanctions were Rs 9,950 crore and Rs 14,201 crore, respectively for the quarter ended September 30, 2017, showing an increase of 50.6% and 68.3% respectively, over the corresponding period of the previous year
- Total Income was up by 21.0 % to Rs. 2,614.2 crore during the quarter ended September 30, 2017 as against Rs 2,161.4 crore in the corresponding quarter of the previous year
- Gross NPA stood at 0.96 % amounting to Rs 783.4 crore
- Net Interest Margin stood at 3.05 %
DHFL’s average loan ticket size at the portfolio level stands at Rs 14.6 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.