Dewan Housing Finance Corporation (DHFC) is one of the leading housing finance companies in India with a large network across the country that caters to millions of customers in the low-to-moderate income (LMI) category. DHFL provides customers with a vast array of home loan products including loans on homes residential plots construction LAP or loan against property as also mortgage non-residential and project loans. As on 31 March 2018 the company had a presence in 349 locations with significant penetration in Tier 2/3 towns. This includes two representative offices in London and Dubai. DHFL's Project Finance vertical offers a comprehensive financial solution to developers for construction and development of residential projects.Incorporated in Maharashtra in 1984 as Dewan Housing Finance & Leasing Co the company was renamed as Dewan Housing Development Finance in 1984 then after to Dewan Housing Finance Corporation (DHFC) with its registered office in Mumbai. The company commenced its activities in Aug.'84 and has several branches all over India. It was promoted by the late Dewan Kuldip Singh Wadhawan and his family.The company is recognized as a private housing finance company by the Government of India and the RBI has also considered it eligible for refinance and financial support from the National Housing Bank. The company has been permitted by the RBI to accept NRI deposits. The company provides housing finance to individuals co-operative societies corporate bodies or their nominated employees groups of persons etc and leases commercial and residential premises to reputed companies.For the first time in the history of housing finance the company has introduced a housing loan offering dual protection by way of accident risk cover and property insurance free of cost to borrowers. It also offers financial support to develop infrastructure facilities and for slum development.During the year 2000-2001 the company issued 8419875 equity shares of Rs 10/- each at a premium of Rs 10/- per share aggregating to Rs 1684 lacs on rights basis. On 31 March 2014 DHFL announced its entering into the country's first ever Mortgage Guarantee contract with IMGC Indian Mortgage Guarantee Corporation. This offers DHFL a first loss guarantee on its pool of priority sector housing loans. In a first-of-its-kind transaction DHFL has securitized this pool of priority sector housing loans with a Mortgage Guarantee to ICICI Bank Ltd. The pool has been rated AAA (SO) by CARE Ltd. This guarantee has enabled DHFL to reduce the level of credit enhancement that would have otherwise been required for securitization thereby releasing capital which can be redeployed to earn higher returns. On 20 May 2014 DHFL announced the launch of its new branch and two service centres at key locations in Trivandrum Kollam Thodapuzha and Pattananmthita in Kerala. On 23 May 2014 DHFL inaugurated its flagship branch in Palghar in Thane district of Maharashtra.On 26 June 2014 DHFL announced that its ratings have been upgraded by Credit Analysis & Research Ltd. (CARE) to CARE AAA (Triple A) for long term facilities. This is CARE's highest rating recognising DHFL's business excellence over three decades of operations. On 28 October 2014 Dewan Housing Finance Corporation Limited (DHFL) and Prudential Financial Inc. (PFI) announced that they have agreed to form an asset management joint venture with DHFL acquiring a 50 percent stake in Pramerica Asset Managers Pvt. Ltd. PFI's asset management business in India. This follows DHFL and PFI joining forces last year to create a life insurance joint venture DHFL Pramerica Life Insurance Company which serves the life insurance needs of customers across cities and towns in India. Under the terms of the new asset management joint venture agreement each company will own 50 percent of the business. The joint venture company will be renamed DHFL Pramerica Asset Managers Pvt. Ltd. following regulatory approvals and closure of the transaction. PFI (NYSE: PRU) is a US-headquartered global financial services company which does business under the trade name Pramerica in select countries outside the United States.On 21 November 2014 DHFL announced actor Shah Rukh Khan as the company's Brand Ambassador. This is the company's first such brand association in its 30 year journey of providing financial access for home buying amongst Indian customers.On 25 June 2015 DHFL announced the launch of `DHFL Wealth2Health' a product with unique combinations of Fixed Deposit and Loan-Against-Deposit along with a Wealth2Health card that will enable customers with multiple healthcare benefits. DHFL has entered into an agreement with Vidal Healthcare Services Pvt Ltd an integrated healthcare and wellness services company in India to launch this unique product to benefit the customers.On 7 October 2015 DHFL announced a reduction in its Retail Prime lending rate by 20 basis points. DHFL has also reduced rates for its new customers and the rate will now start from 9.65%.On 6 November 2015 DHFL announced that it is expecting a steady growth in its loan book size in the Punjab and Chandigarh region in the next five years. The company is also expecting 30% surge in home loan disbursement year-on-year in the region which is boosting demand in affordable housing segment. In August 2016 DHFL created history in the Indian Capital markets by raising a record Rs 14000 crore within one month from public issue of Non-Convertible Debentures (NCDs). The total demand generated from the two issues was Rs 32000 crores as per the data available on the exchanges.On 6 October 2016 DHFL announced reduction in its interest rates by 20 basis points to 9.35% for its new customers with effect from 11 October 2016.On 4 January 2017 DHFL announced that it has reduced its home loan lending rates by 50 basis points from 9.10% to 8.60% effective 4 January 2017. DHFL said at the time of announcement of its Q3 December 2017 results on 22 January 2018 that its Assets Under Management crossed the Rs 1 lakh crore milestone during the quarter ended 31 December 2017.On 17 May 2018 Dewan Housing Finance Corporation Limited (DHFL) announced that it proposes to open on 22 May 2018 a public issue of up to 12 crore secured redeemable Non-Convertible Debentures (NCD) of face value of Rs 1000 each for an amount of Rs 3000 crore with an option to retain oversubscription of up to Rs 9000 crore aggregating up to Rs 12000 crore (Tranche I NCD Issue). At least 75% of the net proceeds of the Public Issue of NCDs will be used for the purpose of onward lending financing and for repayment/prepayment of interest and principal of existing borrowings of the company. A maximum of up to 25% will be used for general corporate purposes.On 23 May 2018 DHFL announced that the company has decided to exercise the option of early closure and close the Tranche I NCD Issue on 24 May 2018.On 25 May 2018 DHFL celebrated the company's first Masala bond on London Stock Exchange Group's (LSEG) International Securities Market (ISM) with a market opening ceremony. DHFL's maiden Masala bonds issue witnessed an overwhelming response from high quality investors across Europe and Asia. The Masala bonds was issued at the rate of 8.50% p.a payable half yearly.