DHFL, one of India’s leading housing finance company, today announced its Q2 results for the second quarter ended September 30, 2018. The company registered a net profit growth of 52% to ₹ 439 crore for the quarter ended September 30, 2018.Assets Under Management (AUM) grew by 38% year-on-year, reaching ₹ 1,30,182 crore from ₹ 94,079 crore as on September 30, 2018.
Commenting on the company’s financial performance in the Quarter, Kapil Wadhawan, Chairman and Managing Director, DHFL said, “Over the past few weeks, the financial services sector specifically NBFCs, witnessed an unexpected, temporary slump and liquidity tightening. DHFL has taken every step towards mitigating these issues. The company has been diligent towards all its repayments and fulfilled every financial obligation. DHFL immediately reiterated its strong positions on credit quality, credit ratings, no ALM mismatch, robust asset quality, strong liquidity and the company’s commitment towards all its repayment records. Since September 24 2018, DHFL has repaid liabilities of nearly ₹ 14,000 crores which includes more than ₹ 9,000 crores of CP repayments.
This target was met by the company through internal liquidity generation and minimal external
borrowings. DHFL’s low-ticket retail housing portfolio with clear and strong asset quality is evidenced
through net sell-down/assignment of more than ₹ 7,400 crores of retail pools in a short span of 50
days to 8 banks and financial institutions.
Kapil Wadhawan added, “Over the past three decades DHFL, has witnessed various business and market cycles but have remained undeterred and realigned our business strategies. We have successfully navigated such cycles and through it all we maintained our commitment to our vision of transforming lives through home ownership and emerged much stronger as an organisation.
Wadhawan continued, “Our performance this quarter is well in line with our QoQ growth momentum. During the quarter in review DHFL maintained robust performance led by loan growth disbursements in the affordable housing segment. Considering that two-thirds of DHFL’s home loan portfolio is retail home loans wherein our average home loan ticket size is below 11 lakhs, DHFL has endeavored to protect margins at 300 to 305 bps. DHFL’s business is differentiated by several factors of which customer friendly service and our heritage in the affordable space, continues to lead the business. We are actively expanding our loan book and committed to creating value for our
stakeholders by delivering strong business growth. We continue to drive several growth-oriented initiatives aimed at developing an equitable society through wider financial access. Our business fundamentals are strong and we continue to be optimistic of future progress.”
