DHFL Q1 FY17 Net Profit up by 16.23% at INR 201.4 crore

 

Highlights for Q1 FY17 ended June 30, 2016

·         Net profit increased by 16.23% to Rs 201.4 crore for the quarter ended June 30, 2016

·         Profit before tax rose by 15.88% to Rs 302.9  crore for the quarter ended June 30, 2016

·         Total income rose by 18.52% to Rs 1,958.3 crore for the quarter ended June 30, 2016

·         Loan Book Outstanding grew 18.32% to Rs 63,646.6 crore for the quarter ended June 30, 2016

·         Gross NPA stood at 0.98% amounting to Rs 623.8 crore

·         Net Interest Margin stood at 2.91%

Mumbai, July 20, 2016: DHFL, one of India’s leading housing finance company in the private sector, today announced its results for the first quarter ended June 30, 2016. The company registered a net profit growth of 16.23% to Rs 201.4 crore for the quarter ended June 30, 2016.

Assets under Management (AUM) grew by 20.02% quarter-on-quarter, reaching Rs 72,012.1 crore from Rs 60,001.6 crore as on June 30, 2015.

Commenting on the company’s financial performance, Mr Kapil Wadhawan, Chairman and Managing Director, DHFL said,“We are extremely pleased with the growth that DHFL has registered in the first quarter. The efforts we made in the past to become a diversified financial services group is paying off and we are now firmly on track to achieve our targets for FY17.”

He further added, “The importance of the “Housing for All” and “Smart Cities” initiatives by the Government coupled with our efforts to add value to the affordable housing segment and the financial literacy program at the bottom of the pyramid has contributed to the top line growth of the company. New policy initiatives by the Government of India has set a tone for the growth of the housing finance sector in the coming quarters and we at DHFL remain committed to offering a range of home finance options and world class service to our valued customers at competitive rates.”

Performance Details for the quarter ended June 30, 2016 as compared to the corresponding quarter of the previous year:

• Net profit increased by 16.23% to 201.4 crore for the quarter ended June 30, 2016 as against Rs 173.3 crore in the corresponding quarter of the previous year
• Profit before tax rose by 15.88% to Rs 302.9 crore for the quarter ended June 30, 2016 as against Rs 261.4 crore in the corresponding quarter of the previous year
• Loan book outstanding grew 18.32% to Rs. 63,646.6 crore during the quarter ended June 30, 2016 as against Rs 53,795.7 crore in the corresponding quarter of the previous year
• Loan disbursements and sanctions were Rs 6,214.8 crore and Rs 8,800.7 crore, respectively for the quarter ended June 30, 2016, showing an increase of 25.54% and 12.00% respectively, over the corresponding period of the previous year
• Total Income was up by 18.52% to Rs. 1,958.3 crore during the quarter ended June 30, 2016 as against Rs 1,652.2 crore in the corresponding quarter of the previous year
• Gross NPA stood at 0.98% amounting to Rs 623.8 crore

·         Net Interest Margin stood at 2.91%

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. The Company’s average loan ticket size at the portfolio level stands at Rs 11.57 lakhs. It also offers project loans essentially for development of low and middle income housing projects. This is besides the value-added and customized insurance solutions, along with its home loan products.

The company offers an array of Fixed Deposit Products for public including individuals and trust investors that ensures high yield, safety and liquidity. DHFL Fixed Deposit Products for individual investors come with free accidental insurance cover of Rs. 1 Lakh. Company Fixed Deposit Products are rated CARE AAA and BWR (FAAA) ensuring high safety.