Mumbai, April 30, 2018: DHFL, one of India’s leading housing finance company, today announced its annual results for the year ended March 31, 2018. The company registered a net profit growth of 26 % to Rs 1,172.1 crore for the year ended March 31, 2018.
Assets Under Management (AUM) grew by 33% year-on-year, reaching Rs 111,086 crore from Rs 83,560 crore as on March 31, 2018.
Commenting on the company’s financial performance, Mr. Kapil Wadhawan, Chairman and Managing Director, DHFL said, “DHFL has registered robust business growth in the fourth quarter as we continue to take several proactive steps towards the fulfillment of DHFL’s mission to enable homeownership. On an overall basis FY 2017 -18 has been encouraging for the housing finance sector which witnessed several growth oriented initiatives and industry defining policy measures undertaken by the government.
DHFL’s focus is towards maintaining its leadership in an exciting landscape, leveraging its competitive strengths and expanding customer outreach strategies in Tier 2 /3 towns through unique initiatives like the Griha Utsav exhibitions. With the team’s unwavering commitment we are confident of reporting a stronger performance.
On the portfolio diversification side, DHFL has for the first time successfully raised USD 150 million by issuing masala bonds on the London Stock Exchange, making it’s debut listing in the international market. This provides greater impetus to our growth strategy, while allowing international investors to participate in the high potential affordable housing story in India.
DHFL’s mission is to engender socio-economic change across India. Supported by our strategic expansion initiatives, DHFL is taking committed steps in expanding financial literacy actively across India, which is key to India achieving its mission of Housing For All by 2022.”
Performance Details for the year ended March 31, 2018 as compared to the corresponding period of the previous year
• Net profit increased by 26% to Rs. 1,172.1 crore for the year ended March 31, 2018 as against Rs. 927.0 crore in FY17
• Profit before tax rose by 25 % to Rs. 1,756.6 crore for the year ended March 31, 2018 as against Rs. 1,402.4 crore in FY17
• Loan Book Outstanding grew 28% to Rs. 91,932 crore for the year ended March 31, 2018 as against Rs. 72,096 crore in FY17
• Total Income up by 18 % to Rs 10,464.5 crore for the year ended March 31, 2018 as against Rs. 8,857.2 crore in FY17
• The Board of Directors, have recommended final dividend of Rs. 2.50 per equity share to the equity shareholders, total dividend (including interim dividend) Rs. 5.50 per equity share (Previous Year: Rs. 4.00 per share)
• Gross NPA stood at 0.96%
• Net Interest Margin stood at 3.04%
Performance Details for the quarter ended March 31, 2018 as compared to the corresponding period of the previous year:
• Net profit increased by 26% to 312.4 crore for the quarter ended March 31, 2018 as against Rs 248.2 crore in the corresponding quarter of the previous year
• Profit before tax rose by 28 % to Rs 479.9 crore for the quarter ended March 31, 2018 as against Rs 375.6 crore in the corresponding quarter of the previous year
• Loan book outstanding grew 28 % to Rs. 91,932 crore during the quarter ended March 31, 2018 as against Rs 72,096 crore in the corresponding quarter of the previous year
• Loan disbursements were Rs 15,768 crore for the quarter ended March 31, 2018, showing an increase of 81% over the corresponding period of the previous year
• Total Income was up by 18% to Rs. 2,808.2 crore during the quarter ended March 31, 2018 as against Rs 2,377.7 crore in the corresponding quarter of the previous year
• Gross NPA stood at 0.96 % .
• Net Interest Margin stood at 3.03%.
DHFL holds leadership position in the affordable housing sector with majority of its home loan portfolio catering to the Lower and Middle Income (LMI) segment. DHFL’s average loan ticket size at the portfolio level stands at Rs. 15.2 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.
• Raised USD 150 million through the issuance of masala bonds – In a landmark development, for the first time in its history, DHFL successfully raised USD 150 million through the issuance of masala bonds on the London Stock Exchange, which is an excellent platform for Indian issuers. This is DHFL’s debut listing in an international stock market, allowing DHFL to diversify its fund raising strategy as well as offering international investors an opportunity to participate in the high growth potential of the Indian affordable housing story.
• Proposal of raising of funds by way of a public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) of face value Rs. 1,000 each, subject to the receipt of necessary approvals, for an amount upto Rs.15,000 crore (Rupees Fifteen Thousand Crore only) (including the green shoe option), in one or more tranches, in terms of the provisions of the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, the Companies Act 2013 and other applicable laws (the “Issue”).
• DHFL Griha Utsav – Successfully conducted 31 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 waivers on processing fees, spot sanctions on home loans and attractive interest rate, while introducing the DHFL brand to LMI customers across India.
• The Board of Directors, have recommended final dividend of Rs. 2.50 per equity share to the equity shareholders, total dividend (including interim dividend): Rs. 5.50 per equity share (Previous Year: Rs. 4.00 per share)
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 349 locations spanning metros, Tier 2 and3 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
• Acknowledged as the ‘Best Performing Primary Lending Institution under CLSS for MIG’ for disbursement under PMAY scheme – With the objective of facilitating the government’s mission ‘Housing for All by 2020’, DHFL has provided highest number of credit subsidies for MIG 1 and MIG 2 groups under the Credit Link Subsidy Scheme (CLSS). For this achievement ‘My Liveable City’ along with knowledge partner, ‘National Housing Bank’ have felicitated DHFL as the ‘Best Performing Primary Lending Institution under CLSS for MIG.
• Kapil Wadhawan awarded the Best Leader In Financial Services by Business Today – DHFL’s Chairman and Managing Director, Kapil Wadhawan was awarded the title of Best CEO in the Financial Services category by Business Today, at their flagship event BT MindRush on January 13, 2018. Mr. Wadhawan was unanimously chosen by a high-powered jury, based on a rigorous evaluation of DHFL’s performance under his leadership over the past three decades. A quantitative and qualitative assessment of the group’s total stakeholder returns, revenue and profit growth was conducted to arrive at this decision.