Dewan Housing has planned to raise Rs 1,000 crores

By Pradeep Yuvaraj | September 7, 2011

A recent press report said that Dewan Housing Finance Corporation Limited has planned to raise about Rs 1,000 crore before end-2011 or in the fourth quarter of this fiscal.

Mr. Anil Sachidanand, CEO, DHFC, told the press that the company was planning to raise capital of Rs. 750 crore to Rs 1,000 crore before this year-end or the fourth quarter of this fiscal for its further expansion. He said that the company is expecting a 30-35 per cent growth in credit and its lending portfolio stands at Rs 24,000 crore across 2.69 lakh customers.

He also said the company was largely concentrating on the lower and mid-income segment, with a monthly income of Rs 4,000-20, 000. The company’s lending portfolio includes home loans, home improvement loans, home extension loans, home loans for the self employed, home loans for NRI, plot loans, corporate services, mortgages loans, non-residential property etc.

The company’s gross NPAs stood at 0.53 per cent, while net NPAs were at 0.24 per cent. Mr. Anil Sachidanand said that housing finance companies and specialized HFCs will continue to play a dominant role in the housing finance space.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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