According to a recent press report the net profit of Dewan Housing finance Limited has gone up to Rs. 72crore from Rs. 58 crore when compared with the previous year September quarter 30, 2010.
Mr. Prashant Chaturvedi, Head Finance Dewan Housing finance Limited said that the extraordinary income Rs 35 crore which the company already had in the second quarter had boosted the profit and the other factors include higher interest income and the loan disbursements.
Reports said that the Loan disbursements and the sanction of loan increased by Rs. 2139 crore and Rs. 3112 crore, which is 28 percent and 40 percent more respectively than the previous year results.
The quarter results for the Net Interest Margin decreased from 3 percent to 2.77 percent. The funds cost increased from 9 percent to 10.80 percent. The Non Performing assets of the Bank is 0.26 percent.
The total borrowings of the Bank were about Rs.9000 crore out of which the funding for debt was Rs.6000 crore. The bank is also having a plan to increase the capital by Rs 500 crore.