DHFL, one of India\u2019s leading housing finance company, today\u00a0announced its Q2 results for the second quarter ended September 30, 2018. The company\u00a0registered a net profit growth of 52% to \u20b9 439 crore for the quarter ended September 30,\u00a02018.Assets Under Management (AUM) grew by 38% year-on-year, reaching \u20b9 1,30,182 crore\u00a0from \u20b9 94,079 crore as on September 30, 2018.<\/p>\n
Commenting on the company\u2019s financial performance in the Quarter, Kapil Wadhawan,\u00a0Chairman and Managing Director, DHFL said, \u201cOver the past few weeks, the financial services sector\u00a0specifically NBFCs, witnessed an unexpected, temporary slump and liquidity tightening. DHFL has\u00a0taken every step towards mitigating these issues. The company has been diligent towards all its\u00a0repayments and fulfilled every financial obligation. DHFL immediately reiterated its strong positions\u00a0on credit quality, credit ratings, no ALM mismatch, robust asset quality, strong liquidity and the\u00a0company\u2019s commitment towards all its repayment records. Since September 24 2018, DHFL has\u00a0repaid liabilities of nearly \u20b9 14,000 crores which includes more than \u20b9 9,000 crores of CP repayments.
\nThis target was met by the company through internal liquidity generation and minimal external
\nborrowings. DHFL\u2019s low-ticket retail housing portfolio with clear and strong asset quality is evidenced
\nthrough net sell-down\/assignment of more than \u20b9 7,400 crores of retail pools in a short span of 50
\ndays to 8 banks and financial institutions.<\/p>\n
Kapil Wadhawan added, \u201cOver the past three decades DHFL, has witnessed various business and\u00a0market cycles but have remained undeterred and realigned our business strategies. We have\u00a0successfully navigated such cycles and through it all we maintained our commitment to our vision of\u00a0transforming lives through home ownership and emerged much stronger as an organisation.<\/p>\n
Wadhawan continued, \u201cOur performance this quarter is well in line with our QoQ growth\u00a0momentum. During the quarter in review DHFL maintained robust performance led by loan growth\u00a0disbursements in the affordable housing segment. Considering that two-thirds of DHFL\u2019s home loan\u00a0portfolio is retail home loans wherein our average home loan ticket size is below 11 lakhs, DHFL has\u00a0endeavored to protect margins at 300 to 305 bps. DHFL\u2019s business is differentiated by several factors\u00a0of which customer friendly service and our heritage in the affordable space, continues to lead the\u00a0business. We are actively expanding our loan book and committed to creating value for our
\nstakeholders by delivering strong business growth. We continue to drive several growth-oriented\u00a0initiatives aimed at developing an equitable society through wider financial access. Our business\u00a0fundamentals are strong and we continue to be optimistic of future progress.\u201d<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
DHFL, one of India\u2019s leading housing finance company, today\u00a0announced its Q2 results for the second quarter ended September 30, 2018. The company\u00a0registered a net profit growth of 52% to \u20b9 439 crore for the quarter ended September 30,\u00a02018.Assets Under Management (AUM) grew by 38% year-on-year, reaching \u20b9 1,30,182 crore\u00a0from \u20b9 94,079 crore as on September […]<\/p>\n","protected":false},"author":3,"featured_media":2782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[2511,2512,2513,2514,2515,2516],"class_list":["post-2781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-2018-assets-under-management","tag-credit-quality","tag-credit-ratings","tag-no-alm-mismatch","tag-robust-asset-quality","tag-strong-liquidity"],"aioseo_notices":[],"yoast_head":"\n