DHFL Q3 net profit up
Dewan Housing Finance Ltd reported 25 per cent growth in net profit during the quarter ended December 31, 2017 aided by robust loan growth in the individual segment.
During the quarter, the company registered a net profit of Rs 305.9 crore as against Rs 244.8 crore in the corresponding quarter of the previous year.
The company’s loan book outstanding grew 21.8 per cent to Rs 83,962 crore, largely driven by loans to individuals, which is 67 per cent of the overall portfolio. Net interest margin stood at 3.03 per cent.
Loan disbursements grew 53.6 per cent to Rs 10,846 crore and sanctions grew 75 per cent to Rs 16,552 crore for the quarter ended December 31, 2017 over the corresponding period of the previous year.
Its assets under management grew 29.4 per cent year on year to Rs 1,01,286 crore for the quarter ended December 31, 2017 from Rs 78,296 crore in the corresponding quarter of the previous year.
“Predominantly loan growth came from home loan, which is 2/3 of the book while LAP and project financing are 20.5 per cent and 13 per cent,” said Harshil Mehta, joint managing director and CEO, DHFL. “We saw maximum growth in affordable segment. It grew by 55 per cent to Rs 40,000 crore.”
The company’s asset quality remained stable with the gross NPA at 0.96 per cent amounting to Rs 806 crore.