March quarter loss takes away DHFL investors' last string of hope

As tight liquidity squeezed the housing financier's business, FY19 is the first year of loss in its recent history

Once the favourite housing finance company of the Street – Dewan Housing Corporation (DHFL) stock is already faced with nearly 90 per cent price erosion in a year. Its March quarter (Q4) numbers published late Saturday potentially takes away the last string of hope of investors. Q4’s huge loss of Rs 2,223 crore pushed FY19 to end in red. This is first yearly loss faced by DHFL in recent times. 

What’s scarier is the commentary it published over the weekend. DHFL’s loan assets are being scrutinised by several agencies after Cobrapost’s allegations. National Housing Board (NHB) after deliberations has also