~Assets Under Management (AUM) grew by 33% year-on-year, reaching Rs 111,086
crore~
~Keeping up a robust retail growth of 61%~
Highlights for Financial Year ended March 31, 2018
* Net profit increased by 26% to Rs 1172.1 crore for the year ended
March 31, 2018 (Without Exceptional Income)
* Profit before tax rose by 25% to Rs 1,756.6 crore for the year
ended March 31, 2018
* Total income rose by 18% to Rs 10,464.5 crore for the year ended
March 31, 2018
* Loan Book Outstanding grew 28% to Rs 91,932 crore YOY for the
year ended March 31, 2018
* Asset Under Management (AUM) grew 33 % to 111,086 crore for the
year ended March 31, 2018
* The Board of Directors, have recommended final dividend of Rs.
2.50 per equity share to the equity shareholders, total dividend (including
interim dividend): Rs. 5.50 per equity share (Previous Year: Rs. 4.00 per
share)
* Gross NPA stood at 0.96%
* Net Interest Margin stood at 3.04%
Mumbai / Chennai , April 30, 2018: DHFL, one of India’s leading housing
finance company, today announced its annual results for the year ended March
31, 2018. The company registered a net profit growth of 26 % to Rs 1,172.1
crore for the year ended March 31, 2018.
Assets Under Management (AUM) grew by 33% year-on-year, reaching Rs 111,086
crore from Rs 83,560 crore as on March 31, 2018.
Commenting on the company’s financial performance, Mr. Kapil Wadhawan,
Chairman and Managing Director, DHFL said, “DHFL has registered robust
business growth in the fourth quarter as we continue to take several
proactive steps towards the fulfillment of DHFL’s mission to enable
homeownership. On an overall basis FY 2017 -18 has been encouraging for the
housing finance sector which witnessed several growth oriented initiatives
and industry defining policy measures undertaken by the government.
DHFL’s focus is towards maintaining its leadership in an exciting landscape,
leveraging its competitive strengths and expanding customer outreach
strategies in Tier 2 /3 towns through unique initiatives like the Griha
Utsav exhibitions. With the team’s unwavering commitment we are confident of
reporting a stronger performance.
On the portfolio diversification side, DHFL has for the first time
successfully raised USD 150 million by issuing masala bonds on the London
Stock Exchange, making it’s debut listing in the international market. This
provides greater impetus to our growth strategy, while allowing
international investors to participate in the high potential affordable
housing story in India.
DHFL’s mission is to engender socio-economic change across India. Supported
by our strategic expansion initiatives, DHFL is taking committed steps in
expanding financial literacy actively across India, which is key to India
achieving its mission of Housing For All by 2022.”
Performance Details for the year ended March 31, 2018 as compared to the
corresponding period of the previous year
* Net profit increased by 26% to Rs. 1,172.1 crore for the year ended
March 31, 2018 as against Rs. 927.0 crore in FY17
* Profit before tax rose by 25 % to Rs. 1,756.6 crore for the year
ended March 31, 2018 as against Rs. 1,402.4 crore in FY17
* Loan Book Outstanding grew 28% to Rs. 91,932 crore for the year
ended March 31, 2018 as against Rs. 72,096 crore in FY17
* Total Income up by 18 % to Rs 10,464.5 crore for the year ended
March 31, 2018 as against Rs. 8,857.2 crore in FY17
* The Board of Directors, have recommended final dividend of Rs.
2.50 per equity share to the equity shareholders, total dividend (including
interim dividend) Rs. 5.50 per equity share (Previous Year: Rs. 4.00 per
share)
* Gross NPA stood at 0.96%
* Net Interest Margin stood at 3.04%
Performance Details for the quarter ended March 31, 2018 as compared to the
corresponding period of the previous year:
* Net profit increased by 26% to 312.4 crore for the quarter ended
March 31, 2018 as against Rs 248.2 crore in the corresponding quarter of the
previous year
* Profit before tax rose by 28 % to Rs 479.9 crore for the quarter
ended March 31, 2018 as against Rs 375.6 crore in the corresponding quarter
of the previous year
* Loan book outstanding grew 28 % to Rs. 91,932 crore during the
quarter ended March 31, 2018 as against Rs 72,096 crore in the corresponding
quarter of the previous year
* Loan disbursements were Rs 15,768 crore for the quarter ended March
31, 2018, showing an increase of 81% over the corresponding period of the
previous year
* Total Income was up by 18% to Rs. 2,808.2 crore during the quarter
ended March 31, 2018 as against Rs 2,377.7 crore in the corresponding
quarter of the previous year
* Gross NPA stood at 0.96 % .
* Net Interest Margin stood at 3.03%.
DHFL holds leadership position in the affordable housing sector with
majority of its home loan portfolio catering to the Lower and Middle Income
(LMI) segment. DHFL’s average loan ticket size at the portfolio level stands
at Rs. 15.2 lakhs. DHFL’s robust performance continues to be driven by its’s
strong focus on the LMI segment in Tier 2 and 3 markets. The company offers
a range of home loan products including home loan, home extension loan, home
improvement loan, plot loans, mortgage loan, project loan, SME Loan and
non-residential property loan to all customer segments across India,
retaining its concerted focus on the low and middle income segment.
Key highlights:
* Raised USD 150 million through the issuance of masala bonds – In a
landmark development, for the first time in its history, DHFL successfully
raised USD 150 million through the issuance of masala bonds on the London
Stock Exchange, which is an excellent platform for Indian issuers. This is
DHFL’s debut listing in an international stock market, allowing DHFL to
diversify its fund raising strategy as well as offering international
investors an opportunity to participate in the high growth potential of the
Indian affordable housing story.
* Proposal of raising of funds by way of a public issue of Secured
Redeemable Non-Convertible Debentures (“NCDs”) of face value Rs. 1,000 each,
subject to the receipt of necessary approvals, for an amount upto Rs.15,000
crore (Rupees Fifteen Thousand Crore only) (including the green shoe
option), in one or more tranches, in terms of the provisions of the
Securities and Exchange Board of India (Issue and Listing of Debt
Securities) Regulations, 2008, the Companies Act 2013 and other applicable
laws (the “Issue”).
* DHFL Griha Utsav – Successfully conducted 31 Griha Utsav exhibitions
in the financial year 2017-18, which saw overwhelming participation from
local customers and several affordable housing developers. Planning to host
100 Griha Utsav exhibitions in the new fiscal. Provided attractive offers
including waivers on processing fees, spot sanctions on home loans and
attractive interest rate, while introducing the DHFL brand to LMI customers
across India.
Dividend
* The Board of Directors, have recommended final dividend of Rs.
2.50 per equity share to the equity shareholders, total dividend (including
interim dividend): Rs. 5.50 per equity share (Previous Year: Rs. 4.00 per
share)
Distribution Network
DHFL is today one of India’s leading housing finance companies reporting
steady growth year-on-year. It also has one of the largest distribution
networks in the country, across 349 locations spanning metros, Tier 2 and3
towns. With the help of such penetration, in-depth consumer insights,
localized talent, focused marketing and sales initiatives, DHFL has been
providing meaningful financial access to customers. To further expand
customer outreach, DHFL also partners with public and private sector banks
Awards & Recognition
* Acknowledged as the ‘Best Performing Primary Lending Institution
under CLSS for MIG’ for disbursement under PMAY scheme – With the objective
of facilitating the government’s mission ‘Housing for All by 2020’, DHFL has
provided highest number of credit subsidies for MIG 1 and MIG 2 groups under
the Credit Link Subsidy Scheme (CLSS). For this achievement ‘My Liveable
City’ along with knowledge partner, ‘National Housing Bank’ have felicitated
DHFL as the ‘Best Performing Primary Lending Institution under CLSS for MIG.
* Kapil Wadhawan awarded the Best Leader In Financial Services by
Business Today – DHFL’s Chairman and Managing Director, Kapil Wadhawan was
awarded the title of Best CEO in the Financial Services category by Business
Today, at their flagship event BT MindRush on January 13, 2018. Mr. Wadhawan
was unanimously chosen by a high-powered jury, based on a rigorous
evaluation of DHFL’s performance under his leadership over the past three
decades. A quantitative and qualitative assessment of the group’s total
stakeholder returns, revenue and profit growth was conducted to arrive at
this decision.
India’s Affordable Housing Finance Landscape
According to India Ratings as of June 2017, the AUM of the affordable
housing sector was around Rs 1.5 trillion and is expected to increase four
times to Rs 6 trillion by FY22. An overall positivity propelled by a
combination of factors, is expected to push growth in the housing finance
industry over the long term. Increased government support to developers as
well as buyers augurs well for the industry.
The Real Estate Regulation Act (RERA) has significantly boosted transparency
to infuse more dynamism into the sector. The government’s efforts to
incentivise the housing finance industry, coupled with greater transparency
in the sector, continues to provide an upward thrust to the housing finance
market, with CRISIL Research forecasting finance penetration in urban areas
to increase between FY 2016-17 and FY 2021-22.
Amongst the government initiatives expected to steer industry growth are the
credit-linked subsidy scheme (in terms of interest rate subsidy, under the
Pradhan Mantri Awas Yojana (PMAY), and grant of infra status to affordable
housing. The government is continuously strengthening its focus on its
‘Housing for All by 2020’ Mission, with the Union Budget for FY2017-18 once
again allocating a sizeable corpus for the same. The government’s decision
to establish a dedicated affordable housing fund in the National Housing
Bank (NHB) through various funding measures is another positive development.
The RBI is also contributing to the industry’s positive outlook with a
series of measures, as announced in its June 2017 Monetary Policy. These
include reduction in standard assets provisioning, conditional relaxation of
risk-weights, singular taxation structure of Goods & Services Tax and
loan-to-value (LTV) ratios. Other favourable factors for businesses are the
waning impact of demonetisation, low interest rates and rising income
levels, coupled with government and RBI initiatives to support growth. The
retail housing finance outstanding loan portfolio is projected to expand at
18-20% CAGR, from Rs. 14.3 trillion in FY 2016-17 to Rs. 33.5 trillion in FY
2021-22.
DHFL
DHFL was founded in 1984 by Late Shri Rajesh Kumar Wadhawan, with a vision
to provide financial accessibility to lower and middle income customer
segments among semi-urban and rural populace in India. Led by Mr. Kapil
Wadhawan, Chairman and Managing Director, DHFL is one of the leading housing
finance companies in India with a large network across the country that
caters to millions of customers in the LMI category. DHFL has been rated
CARE AAA (Triple A) and assigned BWR AAA from Brickworks Rating.
Over the last 33 years, DHFL has provided customers with a vast array of
home loan products including loans on homes, residential plots,
construction, LAP or loan against property as also mortgage, non-residential
and project loans. The company’s wide network, deep understanding of
customer needs gathered over time, enables DHFL to offer customised
financial access to LMI customers in India’s smallest towns. With strong
business fundamentals and proven industry expertise, DHFL is a highly
respected and trusted financial services company with a concerted focus
towards enabling home ownership to the LMI customer segment in India. DHFL’s
CSR efforts are an integral part of the Company’s ethos, fulfilling critical
societal needs through Economic Empowerment through Financial Literacy,
Skill Development, Rural Development with focus on Drought Mitigation and
Early Childhood Care and Education (ECCE), implemented with measurable
outcomes. DHFL also has representative offices in Dubai, London and the UAE.
For further information, please visit www.dhfl.com
Wadhawan Global Capital Pvt. Ltd (WGC)
Wadhawan Global Capital Private Limited (WGC) is a leading financial
services group in India. WGC manages over US$ 19 billion of assets through
its lending, investment and insurance platforms. WGC has partnered with
leading financial institutions such as International Finance Corporation
(IFC), Washington, Prudential Financial Inc., United States. WGC is the
promoter entity of Dewan Housing Finance Corporation Limited (DHFL) and
parent company to some of the most prominent brands in India. Its flagship
company, DHFL is a market leader with over three decades of experience in
financing affordable housing. Other Notable brands owned by WGC are Aadhar
Housing Finance, Avanse Financial Services, and DHFL General Insurance. The
company also has a London-based wholly-owned subsidiary Wadhawan Global
Capital (UK) Ltd.
For more information, please visit www.wgcworld.com
