DHFL Q1 net up 29% to Rs 260 crore

Mumbai: Dewan Housing Finance reported 29% increase in net profit to Rs 260 crore for the quarter ended June 30, aided by growth in affordable segment.

During the same quarter last year, the company has reported profit of Rs 201 crore.

Loan book of the company grew 20% to Rs 76,225 crore during the quarter ended June 30, 2017 as against Rs 63,647 crore in the corresponding quarter of the previous year.

"We have seen more demand for home loans in June than in March this year," said Kapil Wadhawan Chairman DHFL. "The demand is more in the affordable segment. We expect bumper growth in the second half of the fiscal, going by the demand in the first quarter."

Loan disbursements during the quarter was up 33% and sanctions up 23% to Rs 8,237 crore and Rs 10,863 crore, largely driven by demand from small towns and in the affordable segment.

Net Interest Margin stood at 3.05%

Gross NPA during the quarter stood at 0.97% amounting to Rs 737 crore.