Our Banking Bureau

Mumbai: DHFL (Dewan Housing Finance Corporation Limited), the second largest housing finance company in the private sector has reported an impressive growth of 89 per cent in terms of loan disbursements, during the quarter ending September 2004 as against the previous quarter in the corresponding year. Loan Disbursements increased from Rs9,016 lakh (during the second quarter in 2003) to Rs17,033 lakh during the quarter ending September 2004, registering a growth of 89 per cent. While net profit has risen by 14.36 per cent from Rs527.51 lakh to Rs603.27 lakh, earnings per share (EPS) has increased by 30 per cent from Rs1.27 to Rs1.65, during the quarter ending September 2004.

DHFL has also recorded an increase in net profit by 18.38 per cent from Rs983.34 lakh to Rs1164.11 lakh, during the half year ended 2004, as against the corresponding half in 2003. The earnings per share (EPS) has increased by 34 per cent from Rs2.38 to Rs3.19, during the half year ended 2004, as against the corresponding half in 2003. The total loan asset size has gone up to Rs141,205 lakh from Rs106,932 lakh as in the corresponding quarter in FY 2003, registering growth of 32 per cent.

The company has made provision during the first half for contingency in compliance with the new NPA norms of NHB for provision on three months overdues and its other directives. This has resulted in provision of Rs298.12 lakh (Rs45.06 lakh), despite which NPA is 1 per cent.