Private sector housing finance company DHFL expects a rise of over 30 percent in its net profit to Rs 700 crore during 2014-15 as it looks to expand presence in smaller towns.
Private sector housing finance company DHFL expects a rise of over 30 percent in its net profit to Rs 700 crore during 2014-15 as it looks to expand presence in smaller towns.
The company is also planning to hire around 200 people by the end of March 2015. "With announcement of some measures by the government, we are seeing positive sentiment in the market. We have already seen good growth for our business and are hoping to close this fiscal with a net profit of Rs 700 crore," DHFL President and Chief Operating Officer Deo Shankar Tripathi told PTI.
The company had recorded a profit of Rs 529 crore in 2013-14, he added.
"We are also expecting our total income to grow around 20 percent in this fiscal to over Rs 4,970 crore in 2013-14," Tripathi said.
Talking about disbursal of loans, he said DHFL has already distributed Rs 8,600 crore of loans during the April-September period of this fiscal, compared to Rs 6,800 crore in the year-ago period.
DHFL had disbursed Rs 15,000 crore loan in 2013-14 and is expected to give Rs 20,000 crore loan this fiscal, an industry source said.
As of September 30, 2014, DHFL's loan book stands at Rs 44,740 crore.
On its expansion plans, Tripathi said the company has opened 105 branches this year across different Tier-II and III cities in the country.
"There is huge demand for low-end housing in India, but there is not adequate supply. All state governments are trying to provide housing to low-income people by offering various schemes," he added.
The company has recently forayed into the North Eastern market and opened its office in Guwahati. Tripathi said DHFL will open 3-4 more branches in the region to tap the growing potential in the housing segment.
Talking about employee strength, he said: "At present we have 2,000 people on our roll. By the end of this fiscal, this is expected to go up to 2,200."
DHFL currently has a network of around 550 centres, in addition to two international representative offices in London and Dubai.
Last month, the company had roped in Bollywood star Shah Rukh Khan as its brand ambassador.
Dewan Housing stock price
On December 05, 2014, Dewan Housing Finance Corporation closed at Rs 400.45, down Rs 3.55, or 0.88 percent. The 52-week high of the share was Rs 428.30 and the 52-week low was Rs 161.00.
The company's trailing 12-month (TTM) EPS was at Rs 45.00 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 8.9. The latest book value of the company is Rs 277.90 per share. At current value, the price-to-book value of the company is 1.44.
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