The Hindu Business Line : Dewan Housing PAT up 30 pc

DEWAN Housing Finance Corporation Limited (DHFL), the second largest housing finance company in the private sector, has reported an increase of Rs 7.16 crore in its profit before tax (PBT), at Rs 30.97 crore in fiscal 2003-04 from Rs 23.8 crore in the previous year. The profit after tax rose by 30.11 per cent for the period over last year.

The consolidated earnings per share rose from Rs 5.31 to Rs 7.01.This includes the contribution of its subsidiary DHFL Vysya (which DHFL acquired in July 2003).

DHFL alone has reported an increase in its PBT by 15 per cent (from Rs 23.8 crore in 2002-03 to Rs 27.4 crore in FY 2003-04) and its profit after tax has increased by 14 per cent (from Rs 19.62 crore in the previous year to Rs 22.39 crore in FY 2003-04).

The earnings per share rose from Rs 5.31 in the previous year to Rs 6.21 for the year ended March 31, 2004, said a company release.

Housing loans sanctioned by DHFL increased by 17.57 per cent to Rs 525.94 crore . Disbursements increased to Rs 468.54 crore (Rs 418.68 crore).

DHFL has declared a special dividend of 10 per cent, over and above the 15 per cent dividend declared for the year, as a gesture towards its shareholders, to commemorate its 20 years of growth.

During the year DHFL has securitised the pool of individual residential housing loans amounting to Rs 69.78 crore.

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