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Friday, Oct 20, 2006

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Money & Banking - Financial Performance
Dewan Housing net rises 23 pc

Our Bureau

Mumbai , Oct. 19

Dewan Housing Finance Ltd (DHFL) has reported a 23.43 per cent increase in net profit at Rs 11.43 crore (Rs 9.26 crore) for the quarter ended September 30, 2006.

Total income rose 40.9 per cent to Rs 76 crore (Rs 53.93 crore) while total expenditure climbed by 47 per cent to Rs 62.14 crore (Rs 42.15 crore).

Loan disbursements for the quarter grew 39.8 per cent to Rs 381.55 crore (Rs 273.75 crore).

Mr Prashant Chaturvedi, CFO, said the company would augment Tier II capital with a subordinate debt issue of Rs 40-50 crore.

The company's capital adequacy ratio stands at 13.5 per cent of its risk weighted assets against the minimum requirement of 12 per cent.

DHFL closed at Rs 75.50 on the BSE against the previous close Rs 75.15.

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