• SENSEX
    NIFTY 50
VIDEOS
Business

DHFL to focus on increasing retail exposure and decreasing project financing

Updated : November 22, 2018 05:22 PM IST

Dewan Housing Finance Corporation (DHFL) on Thursday said the company is focusing on increasing retail exposure and will try to decrease project financing.

The company on Wednesday posted 52.46 percent year-on-year (YoY) second quarter profit at Rs 438.74 crore against Rs 288 crore in the year-ago quarter.

Total revenue was increased 33.78 percent to Rs 3,515.66 crore in Q2FY19 against Rs 2,632.06 crore in the same period last year.

The company has also successfully repaid Rs 13,927 crore of liabilities, from September 24 to November 16, which included Rs 92,00 of commercial papers (CP).

The repayment of liabilities was done in a very systematic manner, said Kapil Wadhawan, CMD, DHFL. "With strong internal accruals managed to clear off liabilities," he said.

Close to Rs 8,000 crore was portfolio sell down amount but there were internal accruals as well the company raised funds of around Rs 2,750 via non-convertible debentures (NCD) issuances in the last two weeks” Wadhawan said.

When asked about the eligible pool of loans available for sell down in the next six months, he said, “We have close to Rs 10,000 crore of pool availability till March but taking a one year the amount is closer to Rs 20,000 crore roughly.”

He also said that after making the repayments of CP, the CP outstanding currently in the total liability book of close to Rs 100,000 crore is just one percent and that is due over the next couple of months till the month of June. “So by June, we should be done away with our CPs. Hopefully, the market improves by that time and there is sufficient availability of long-term debt,” Wadhawan said.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you

Advertisement