Dewan Housing Finance Corporation (DHFL) reported a 29 per cent increase in standalone net profit at ₹260 crore in the first quarter ended June 30, against ₹201 crore in the year-ago quarter.
Total income from operations was up 23 per cent year-on-year (yoy) to ₹2,408 crore (₹1,956 crore). Total expenditure rose 23 per cent to ₹2,027 crore (₹1,653 crore). Housing loans sanctioned increased 23 per cent to ₹10,863 crore (₹8,801 crore). Disbursements were up 33 per cent at ₹8,237 crore (₹6,215 crore).
Kapil Wadhawan, CMD, said: “We targeted a 20 per cent growth in our numbers (loan sanctions and disbursements) before the beginning of the financial year. We, honestly, are positively surprised by the huge inflow of business that is coming in and we believe that with the same trend continuing, we still wouldn’t want to peg a higher target for our growth rate. We will still continue to go by 20-22 per cent growth.”
Loan book outstanding grew 20 per cent to ₹76,225 crore (₹63,647 crore).
Assets under management (AUM) grew 23 per cent to ₹88,236 crore (₹72,012 crore).
Net interest margin improved to 3.05 per cent (2.91 per cent).
Gross non-performing assets as a percentage of gross advances was almost flat at 0.97 per cent (0.98 per cent).
DHFL’s average loan ticket size at the portfolio level stood at ₹14.3 lakh (₹11.57 lakh).
The housing finance company’s shares on Friday closed at ₹458.45 apiece, down 3.80 per cent over the previous close on BSE.