Asset Under Management (AUM) grew 37% to INR 1,20,939.5 crore and Loan Book Outstanding grew 33% to INR 1,00,980.5 crore YOY for the quarter ended June 30, 2018
|Highlights of Q1 FY19 for Quarter ended June 30, 2018 on Y-o-Y basis
Note – Current Quarter Results are based on Ind AS
DHFL, one of India’s leading housing finance company, today announced its Q1 results for the first quarter ended June 30, 2018. The company registered a net profit growth of 35% to INR 435.0 crore for the quarter ended June 30, 2018.
Assets Under Management (AUM) grew by 37% year-on-year, reaching INR 1,20,939.5 crore from INR 88,235.7 crore as on June 30, 2018.
Commenting on the company’s financial performance, Kapil Wadhawan, Chairman and Managing Director, DHFL said, “With the dynamic momentum of the Government’s initiatives and regulatory reforms in the affordable housing space, FY 2018-19 has begun on a promising trajectory for the industry. DHFL actively leveraged its competitive strengths and expertise in this conducive ecosystem to reinforce its leadership position in the industry. The new fiscal has commenced with renewed vigor and greater encouragement as reflected by DHFL’s healthy Q1 performance.
Owing to our unwavering commitment towards the national mission ‘Housing for All by 2022’ and active lead in expanding financial inclusion across India, DHFL has been recognized by the Government of India for recording maximum number of PMAY subsidies in the MIG category.
We are also very excited about DHFL’s partnership with USAID through a USD 10million Loan Guarantee aimed at enabling financing to healthcare providers and thus boosting the healthcare ecosystem to provide quality and affordable care.
At the organizational level, we are focused on serving our customers efficiently, expanding our loan book and benefitting our stakeholders to continue to deliver stronger performance and create higher value. We are actively progressing with several growth-oriented initiatives aimed at stimulating an equitable society with enhanced financial access.”
Performance Details for the quarter ended June 30, 2018 as compared to the corresponding quarter of the previous year:
- Net profit increased by 35% to INR 435.0 crore for the quarter ended June 30, 2018 as against INR 322.4 crore in the corresponding quarter of the previous year
- Profit before tax rose by 43% to INR 638.2 crore for the quarter ended June 30, 2018 as against INR 445.7 crore in the corresponding quarter of the previous year
- Loan book outstanding grew 33% to INR 1,00,980.5 crore during the quarter ended June 30, 2018 as against INR 76,224.8 crore in the corresponding quarter of the previous year
- Loan disbursements were INR 13,582.9 crore for the quarter ended June 30, 2018, showing an increase of 65% over the corresponding quarter of the previous year
- Total Income was up by 26% to INR 3,156.1 crore during the quarter ended June 30, 2018 as against INR 2,497.1 crore in the corresponding quarter of the previous year
- Gross NPA stood at 0.93%.
- Net Interest Margin stood at 3.44%.
Note – Current Quarter results are based on Ind AS, so comparative figures of previous corresponding quarter have been restated as per Ind AS.
DHFL holds a leadership position in the affordable housing sector with majority of its home loan portfolio catering to the Lower and Middle Income (LMI) segment. 80% of DHFL’s home loan disbursements are in the affordable housing category with majority being first time home buyers availing housing finance to fulfill their homeownership dream. DHFL’s average loan ticket size at the portfolio level stands at INR 16.1 lakhs. DHFL’s robust performance continues to be driven by its’s strong focus on the LMI segment in Tier 2 and 3 markets. The company offers a range of home loan products including home loan, home extension loan, home improvement loan, plot loans, mortgage loan, project loan, SME Loan and non-residential property loan to all customer segments across India, retaining its concerted focus on the low and middle income segment.
- Partnership with USAID to improve Access to Quality, Affordable Healthcare – DHFL’s partnership with USAID will enable financial support to medical institutions working towards providing quality and affordable Healthcare to the Urban Poor through its PAHAL program. Through this association USAID and DHFL will make available up to $10 million in financing for healthcare enterprises across India working towards improving access to quality and affordable care for the underserved populations in India specifically in maternal and child care.
- Best Performing Primary Lending Institution under CLSS for MIG – DHFL was felicitated by the Ministry of Housing and Urban Affairs, Government of India for providing highest number of credit subsidies for MIG groups under the Credit Link Subsidy Scheme (CLSS) in its pursuit towards facilitating the government’s mission ‘Housing for All by 2020’. For FY 2017-18, DHFL has received subsidy for more than 7,104 cases that amount for a total of Rs. 155.9 Crores. Of this, 3,207 cases fall under EWS/LIG group amounting to Rs. 75.1 crores and the remaining 3,897 cases fall under MIG 1 & 2 groups amounting to Rs. 80.8 crores.
- DHFL Griha Utsav – Successfully conducted 54 Griha Utsav exhibitions in the financial year 2017- 18, which saw overwhelming participation from local customers and several affordable housing developers. Planning to host 100 Griha Utsav exhibitions in the new fiscal. Provided attractive offers including discounts on processing fees, spot sanctions on home loans and attractive interest rate, while introducing the DHFL brand to LMI customers across India.
DHFL is today one of India’s leading housing finance companies reporting steady growth year-on- year. It also has one of the largest distribution networks in the country, across 352 locations spanning metros, Tier 2 and 3 towns. With the help of such penetration, in-depth consumer insights, localized talent, focused marketing and sales initiatives, DHFL has been providing meaningful financial access to customers. To further expand customer outreach, DHFL also partners with public and private sector banks
Awards & Recognition
- Best Performing Primary Lending Institution under CLSS for MIG’ – DHFL was felicitated by the Ministry of Housing and Urban Affairs, Government of India for providing highest number of credit subsidies for MIG groups under the Credit Link Subsidy Scheme (CLSS) in its pursuit towards facilitating the government’s mission ‘Housing for All by 2020’. For FY 2017-18, DHFL has received subsidy for more than 7,104 cases that amount for a total of Rs. 155.9 Crores. Of this, 3,207 cases fall under EWS/LIG group amounting to Rs. 75.1 crores and the remaining 3,897 cases fall under MIG 1 & 2 groups amounting to Rs. 80.8 crores.
- Awarded The Economic Times Iconic Brand Award for 2018 – The award acknowledges DHFL’s vision and commitment, as well as marking DHFL’s next phase of higher growth, as a truly ‘iconic brand’ in India’s fast growing financial services industry.
- Leading Housing Finance Company of the Year by Times Network – DHFL was recognized as one of the Leading Housing Finance Company by the largest media network of the country.
DHFL was founded in 1984 by Late Shri Rajesh Kumar Wadhawan, with a vision to provide financial accessibility to lower and middle income customer segments among semi-urban and rural populace in India. Led by Mr. Kapil Wadhawan, Chairman and Managing Director, DHFL 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 LMI category. DHFL has been rated CARE AAA (Triple A) and assigned BWR AAA from Brickworks Rating.
Wadhawan Global Capital Pvt. Ltd (WGC)
Wadhawan Global Capital Private Limited (WGC) is a leading financial services group in India. WGC manages over US$ 19 billion of assets through its lending, investment and insurance platforms. WGC has partnered with leading financial institutions such as International Finance Corporation (IFC), Washington, Prudential Financial Inc., United States.