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DHFL aims 24pc growth in FY'19

Press Trust of India  |  Kolkata 

Housing company Dewan Housing Ltd, bolstered by the government's affordable housing schemes, is targeting a growth of 24 per cent in the current fiscal, a top of the company today said.

"Housing sector is growing at 18-20 per cent this year and is likely to continue for the next 2-3 years. Even by conservative estimates, we will grow 24 per cent this year," DHFL said.

About 15 per cent of its total borrowers were Pradhan Mantri Awas Yojana (PMAY) beneficiaries last year.

Sharma said there are other schemes of National Housing Bank that promotes in the country.

The company's incremental disbursement was close to Rs 45,000 crore in the last financial year, while this year (FY19), it expects the same to be at Rs 55,000 crore, another said.

The company's fundraising requirement target is Rs 50,000 crore in FY19, of which Rs 12,000 crore would be generated from securitisation of loans.

Of the remaining Rs 38,000 crore that is required to be raised will be shared between and other debt instruments.

DHFL will raise Rs 12,000 crore from the proposed secured NCD issue that opens on May 22.

The maturity options are between three and 10 years. It also offers Mibor linked floating interest NCD.

Sharma said he expects hardening of rates by 25-50 basis points in the current fiscal.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 20:35 IST