ALSO READHousing finance stocks gain on Sebi move Dewan Housing Finance Corporation gains on plan to raise funds Dewan Housing Finance shares up 6.5 pc post Q3 earnings Dewan Housing Finance Corporation standalone net profit rises 31.66% in the December 2016 quarter Dewan Housing Finance Corporation standalone net profit rises 1069.29% in the March 2017 quarter
With green shoots visible in the housing sector, mortgage firm DHFL aims 20 per cent growth in loan book and AUM to cross Rs 1 lakh crore in the current fiscal.
"We are looking at 18-20 per cent growth in our business in 2017-18. We ended with Rs 28,000 crore incremental lending. Incremental lending will be in line with last year," Dewan Housing Finance Corporation (DHFL) Chairman Kapil Wadhawan told PTI.
Loan book outstanding grew 17 per cent to Rs 72,096 crore as against Rs 61,775 crore in the corresponding quarter of previous year.
Asset Under Management (AUM) which witnessed a growth of 20 per cent to Rs 83,560 crore for the year ended March 2017 is expected to surpass Rs 1 lakh crore.
"We hope to cross landmark figure of Rs 1 lakh crore during the year," he said.
He further said, the company's focus area remains small towns and cities, where there are good developers but do not have the ability to go out and borrow from outside ecosystem.
"We have been increasing our project financial portfolio. More than 50 per cent of the lending would be in affordable segment. This is without considering developer loans that fall in the segment," he added.
For the entire 2016-17, the company clocked 27 per cent rise in net profit to Rs 927 crore, as compared to Rs 729 crore in the previous fiscal.
It reported a total income of Rs 8,857 crore for last fiscal, as compared to Rs 7,300 crore a year ago.
Net Interest Margin stood at 2.99 per cent while AUM grew 20 per cent to Rs 83,560 crore for the year ended March 31, 2017.
Gross NPA stood at 0.94 per cent at the end of March 31, 2017.
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