Dewan Housing Q4 net up 12%

The company's income went up 45.4 per cent to Rs 148.02 crore during January-March 2008 as against Rs 101.80 crore during the same period last year.

The Dewan Housing board recommended a 10 per cent final dividend in addition to a 15 per cent interim dividend paid during 2007-08. Profit before depreciation and tax rose 10.7 per cent to Rs 36.74 crore in the fourth quarter. Provisions for taxes rose 98 per cent to Rs 6.95 crore in the fourth quarter of 2007-08.

 

Reuters adds: Dewan Housing Finance plans to raise $100 million for a private equity fund by June-end, a top official said on Monday.

The money is a part of the $250 million the company plans to raise for the private equity fund by March 2009, Vice-Chairman and Managing Director Kapil Wadhawan said.

Initial investors for the fund would be from West Asia and the UK and more than half the corpus would be allocated towards real estate projects in tier-II and tier-III cities, he said.

It had earlier raised Rs 100 crore for another private equity fund and the entire corpus has been invested in various real estate projects, Wadhawan said.