Dewan Housing Finance Corporation Ltd (DHFL) reported a 34.62 per cent growth in net interest income to Rs 42.46 crore for the quarter ended 31 March, 2009 against Rs 31.54 crore in the year-ago period.

For the fourth quarter, total income rose 40 per cent to Rs 206.9 crore from Rs 148 crore for the corresponding quarter in the previous year.

The housing finance company saw a fall in net non-performing assets (NPAs) to 1.03 per cent of total assets compared to 1.18 per cent at the end of the previous financial year. Gross NPAs over the same period fell from 1.57 per cent to 1.48 per cent.

For the financial year ended 31 March, 2009, the HFC registered a 40 per cent growth in net profit to Rs 91.76 crore as compared to Rs 66.59 crore at the end of the previous year, on a consolidated basis. DHFL disbursed loans worth Rs 2240.54 crore in the financial year 2008-09 as against Rs 1761.53 crore during the previous year, thereby registering a growth of 27.19 per cent. As of 31 March 2009, its asset book size was Rs 5806.93 crore.

Kapil Wadhawan, vice-chairman and managing director, said, “Last year we had started to see an increase in the cost of funding in the first two quarters. But we have started to bring down our cost of funding.” He added that the firm’s average cost of funding was now below 10 per cent.

Commenting on DHFL’s fund-raising plans, Wadhawan said, “We intend raising about Rs 3500 crore by way of debt for meeting our growth targets of almost Rs 3400 crore of incremental disbursements. We also intend coming out with a large public issue of NCDs (non-convertible debentures) anywhere between Rs 500 crore to Rs 2000 crore in the next 2 months.”

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Wall Street opens flat as data offsets Moody's warning - Thomas Cook India Q4 net jumps three times - Govt plans to make 30% sourcing from MSEs mandatory - Explain ways to cover govt loss on 3G roaming: TDSAT to telcos - Magma Fincorp plans to start gold finance biz in H1 of FY13

Tags : DHFL | Q4FY09 results | | Kapil Wadhawan | interest income   Read Business news in  Advertisements -  Now property search gets more exciting than ever before! -  IndianOil Citibank Card at Zero annual card fee -  High Growth Business Opportunities in Africa - Register to explore -  Save over Rs.3000 with IndianOil Citibank Card -  We live for our family. have you secured them? -  Office 365 for professionals and small businesses. -  India's No. 1 Property Site. Click here to know more.. -  Diseases earlier, Saving Costs, Extending Lives. Know More.. -  Win a Business Class Ticket to Europe..Know more.. -  Exim Bank Conclave on India - Africa Project Partnership. Know more.. -  Enjoy the journey as much as the destination. click to know more.. -  Medium-sized businesses are the engines of a smarter planet. -  Be part of it The World's Largest Aircraft. -  Creating Wealth made simple the SIP way. Know more.. -  Only Developer to give a guarantee on time space & rate. -  Buy Your Property with Our Triple Guarantee in India. -  Improve Patient Care & Experience. Click here to know more -   Introduce a New Automotive Luxury Car.. know more -  Health is Wealth..... Insurance + Savings... Know More...