• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Sarbajeet K. Sen

The company plans to float a $75-100 million real estate venture capital fund for which it has sought the SEBI approval.

New Delhi , May 6

DEWAN Housing Finance Ltd (DHFL), which took over the housing subsidiary of ING Vysya Bank a couple of years ago, is once again on the prowl, this time looking at portfolio acquisitions of players in the housing finance market.

"We are looking at accelerating our growth momentum through inorganic growth. I am especially looking at acquiring housing loan portfolios of banks," Mr Kapil Wadhawan, Managing Director, DHFL, said.

He said the company planned to float a $75-100 million real estate venture capital fund for which it had sought the approval of the Securities and Exchange Board of India.

"The fund would be used to provide equity participation in real estate projects," Mr Wadhawan said.

He said that, while DHFL will sponsor the venture capital fund through its wing DHFL Property Services Ltd, it is also looking at foreign participants. "We have received enquiries from entities in Europe and the US. There is growing interest among foreign investors in the Indian real estate sector," he said.

Mr Wadhawan said DHFL was looking to diversify its portfolio mix so that, in a couple of years, 25 per cent of its business comes from areas other than housing finance.

"We are looking at non-residential premises loans (such as loans for setting up clinics by doctors) and discounting of future rental where the receivables are earmarked to us against aloan," he said.

However, for its core business of housing finance, the company wants to continue its focus on financing the dwelling units of lower and middle income groups"Our non-performing asset is less than 1 per cent of loans, against an industry level of 3 per cent," he said.

Mr Wadhawan said, during the current fiscal, he was looking at incremental sanctions of around Rs 1,000 crore and disbursement of Rs 850-900 crore. "We want to reach a turnover of Rs 5,000 crore by 2007," he said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Institute of Surveyors & Loss Assessors

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line