Business Daily from THE HINDU group of publications
Saturday, Feb 02, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Feb 02, 2008 ePaper | Mobile/PDA Version |
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Corporate Results
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Housing Finance Dewan Housing Q3 net up at Rs 23 cr Our Bureau Mumbai, Feb. 1 Dewan Housing Finance has reported a 69 per cent growth in Q3 net profit at Rs 23 crore, against Rs 13.52 crore in the corresponding quarter of the previous year. The rise in net profit was mainly on account of a rise in income from operations, which jumped 59 per cent to Rs 141 crore from Rs 88 crore. Other income, however, fell from Rs 40 lakh to Rs 12 lakh during the same period. Mr Prashant Chaturvedi, Chief Financial Officer said that the net interest margin of the company improved to 3 per cent in the third quarter, from 2.9 per cent in the previous year. Loan disbursements grew 30 per cent to Rs 516 crore (Rs 396 crore).The capital adequacy of the company stands much higher at 17 per cent at the end of the third quarter mainly due to a reduction in risk weights (from 75 per cent to 50 per cent) on home loans below Rs 20 lakh. The capital adequacy ratio at the end of March 2007 was around 14 per cent. The housing finance company plans to raise Rs 200 crore through qualified institutional placement. More Stories on : Housing Finance
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