Dewan Housing Finance Corporation Ltd (DHFL) is one of the best housing finance companies in India with an extensive network across the country that provides services to millions of customers in the low-to-moderate income (LMI) category.
The company's core deposit products include fixed deposit products trusts and institutions, for individuals, and corporate, Wealth2Health deposits, and recurring products. The company also offers home loans, such as home extension loans, home improvement loans, home construction loans, plot loans/land loans, plot and construction loans, home loans for the self-employed, and balance transfer of home loans; small to medium enterprise loans, including property term, business loans, plant and machinery, and medical equipment; mortgage loans, such as loan for purchase of commercial premises, loans against property, and loan through lease rental discounting and also NRI home loans.
About Company Information:
The company was incorporated by Rajesh Kumar Wadhawan on 11 April 1984, Maharashtra as Dewan Housing Finance & Leasing Co. Also, the company was renamed as Dewan Housing Development Finance in 1984, then after it was again renamed as Dewan Housing Finance Corporation (DHFC) with its registered office in Mumbai. The company again changed its name to Dewan Housing Finance Corporation Limited in August 1992. The company commenced its activities in August 1984 and has several branches all over India.
DHFL offers customers with a vast array of home loan products including loans on residential plots, homes, construction, LAP or loan against property as also non-residential, mortgage, and project loans. As on March 31 2018, the company had extended its network to 349 locations including 187 branches, 135 micro branches, 20 zonal/ regional / CPU offices, 2 disbursement hubs, and 1 collection centre in India. They have two representative offices in Dubai and London.
For the first time in the records of housing finance, DHFL has introduced a housing loan, allowing dual protection by way of accident risk cover and property insurance, free of charge to borrowers. The company also gives financial assistance to improve infrastructure facilities and for slum development. The company issued 84,19,875 equity shares of Rs 10/-each share aggregating to Rs 1684 lacs in right basis during the year 2000- 2001. On March 31 2014, DHFL signed the first-ever mortgage guarantee contract with IMGC (Indian Mortgage Guarantee Corporation).
This provides DHFL with a first loss guarantee on its pool of priority sector housing loans. In a first-of-its-kind deal, DHFL has securitized this priority sector housing loans with a Mortgage Guarantee to ICICI Bank Ltd. It has been rated AAA (SO) by CARE Ltd. This guarantee has allowed DHFL to reduce the level of credit enrichment that would have unless been required for securitization, through releasing capital which can be redeployed to earn greater returns.
On 6 October 2016, DHFL announced a decrease in its interest rates by 20 basis points to 9.35% for its new clients with effect from 11 October 2016. On January 4 2017, DHFL declared that it has reduced its home loan lending charges by 50 basis points from 9.10% to 8.60%, effective from January 4 2017.
On January 29 2019, Cobra Post claimed an expose of DHFL for utilising shell corporation to siphon up ₹ 31,000 crore investment from various banks for their own personal profits. DHFL has registered a response with BSE stating this is untrue. DHFL denied these allegations in a Hosted Investors / Analysts conference & explained that ₹ 31,000 crore loans specified in the allegation include its Project Loan Portfolio.
Dewan Housing Finance Corporation Limited Listings:
The DHFL Equity Shares/stocks are listed on the National Stock Exchange of India Limited (the "NSE") and BSE Limited (the "BSE", together with the NSE, the "Stock Exchanges").
The Key Dates to be noted for DHFL is:
March - The Year Ending Month
June - The AGM Date (Month)
June - Book Closure Date (Month)
As of May 2019 - Dewan Housing Finance Corporation Ltd, Management Team:
Alok Kumar Misra - Independent Director
Dheeraj Wadhawan - Non-Executive Director
Harshil Mehta - Executive President
Kapil Wadhawan - Chairman & Managing Director
Naveen Manghani - Asst. Company Secretary
Naveen Manghani - Secretary
Srinath Sridharan - Non-Executive Director
Sunjoy Joshi - Independent Director
How DHFL categorised under Finance Sector and Housing industry:
The finance sector is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
Dewan Housing Finance Corporation Ltd comes under Finance - Housing, Speciality Finance Industry. Speciality finance is nothing but the financing activity that's taking place outside the regular banking system. Typically, speciality finance firms are non-bank lenders that offer loans to consumers and small to midsize companies that cannot otherwise acquire financing. Specifically, consumer speciality finance includes auto finance, housing loans, collection, alternative financial services, credit card, and mortgage companies. DHFL falls under the sub-industry of Mortgage Finance.
DHFL‘s Competitors and Sector Peers:
Aavas Financiers Ltd, AUHOUF
Akme Star Housing Finance Ltd, AKMSTA
Can Fin Homes Ltd. CANFIN
Coral India Finance and Housing Ltd, CORIND
GIC Housing Finance Ltd, GICHOU
Hindustan Housing Company Ltd, HINHOU
Housing and Urban Development Corporation Ltd, HOUUR
Housing Development Finance Corporation Ltd, HOUSDE
Ind Bank Housing Ltd, INDBAN
India Home Loan Ltd, MANOHO
Indiabulls Housing Finance Ltd, INDIHO
International Housing Finance Corporation Ltd, INTERH
LIC Housing Finance Ltd, LICHOU
Manraj Housing Finance Ltd, MANRHO
Mehta Housing Finance Ltd, MEHHOU
PNB Housing Finance Ltd, PNBHOU
Reliance Home Finance Ltd, RELHOF
Repco Home Finance Ltd, REPHOM
Sahara Housingfina Corporation Ltd, SAHHOU
SRG Housing Finance Ltd, SRGHOU
Vax Housing Finance Corporation Ltd, VAXHOU
DHFL Contact Information:
Nehru Center, Discovery of Ind 9th Floor, Dr A b Road, Worli Mumbai, 400 018 India.