DHFL, one of India’s leading housing finance company has reiterated that the company has neither defaulted on any bonds or repayment of its financial obligations, nor has there been any instance of delay on any repayment of any liability. On September 21, 2018, DHFL fulfilled its commitment of repaying commercial papers worth INR 575 crore and as per schedule and terms, is repaying INR 400 crore on September 24, 2018.
DHFL has also received RE-AFFIRMATION of credit ratings from CARE and ICRA. The credit rating for DHFL’s short and long term borrowings including Fixed Deposits has been reaffirmed as CARE AAA (Outlook: Stable) and CARE AAA (FD); Stable (Triple AAA, Outlook: Stable) and ICRA A1+, indicating a very strong degree of safety regarding timely payment of the Company’s financial obligations.
Kapil Wadhawan, Chairman and Managing Director, DHFL said, “The reiteration by CARE and ICRA on the high degree of safety of DHFL’s bonds and the organisation’s total commitment to its financial obligations, come at a very critical time. Over the past three decades, DHFL has been playing an increasingly transformative role in nation building by expanding home ownership and financial inclusion, transforming the lives of millions of Indian in the LMI and EWS segments.
Aligned to a high growth outlook, DHFL has ensured that the Company’s business fundamentals are strong. DHFL’s Assets Under Management (AUM) has been growing at a CAGR of 26.4% and with a YOY growth of 37%, reporting INR 1,20,939.5 crore as on 30th June 2018 from INR 88,235.7 crore as on June 30, 2017. DHFL continues to expand its loan growth disbursements in the affordable housing segment which were INR 13,582.9 crore for the quarter ended June 30, 2018, demonstrating a 65% increase over the corresponding quarter of the previous year.”
