DHFL aims 24% growth in FY19
Kolkata: Housing finance company Dewan Housing Finance Ltd, bolstered by the government's affordable housing schemes, is targeting a growth of 24 per cent in the current fiscal, a top official of the company on Friday said.
"Housing finance sector is growing at 18-20 per cent this year and is likely to continue for the next 2-3 years.
Even by conservative estimates, we will grow 24 per cent this year," DHFL CFO Santosh Sharma said.
About 15 per cent of its total borrowers were Pradhan Mantri Awas Yojana (PMAY) beneficiaries last year.
Sharma said there are other schemes of National Housing Bank that promotes affordable housing in the country.
The company's incremental disbursement was close to Rs 45,000 crore in the last financial year, while this year (FY19), it expects the same to be at Rs 55,000 crore, another company official said.
The company's fundraising requirement target is Rs 50,000 crore in FY19, of which Rs 12,000 crore would be generated from securitisation of loans. Of the remaining Rs 38,000 crore that is required to be raised will be shared between bank loan and other debt instruments.
DHFL will raise Rs 12,000 crore from the proposed secured NCD issue that opens on May 22.
The Issue is scheduled to close on June 4, 2018 with an option of early closure or extension as decided by the Board of Directors of the Company ("Board") or the NCD Public Issue Committee.
The maturity options are between three and 10 years.
It also offers Mibor linked floating interest NCD.
Sharma said he expects hardening of rates by 25-50 basis points in the current