A recent press report said that housing finance company, Dewan Housing Finance Corporation Ltd (DHFL) has recorded a net profit of Rs 59 crore for the quarter ended March 3,1 2011, 40 per cent higher than the Rs 42 crore in the corresponding year-ago quarter. Reports said that the growth in profits were due to higher loan growth and the loan disbursements increased 82 per cent to Rs 2,034 crore, from Rs 1,115 crore in the year-ago period. The company’s board has recommended a dividend of 35 per cent or Rs 3.5 per share of face value of Rs 10 for the fiscal 2010-11.
DHFL, widely known for its range of home loan and home loan linked insurance plans on offer has recorded a net profit increase of Rs 265 crore, 76 per cent higher than Rs 151 crore in the previous fiscal. Disbursements grew to Rs 6,505 crore in the 2010-11, as against Rs 3,865 crore in the corresponding previous year, registering a growth of 68 per cent.The Net NPAs for the year ended March 31, 2011went up to 0.10 per cent from 0.73 per cent.