DHFL expects home loan growth of 30% this fiscal

New Delhi: Dewan Housing Finance Ltd on Friday said it expects home loan growth of 30 per cent in the current fiscal, driven mainly by demand from smaller cities and towns.

“The company been expanding the outreach specifically in Tier 2 and 3 towns that are India’s new growth engines. We are fairly optimistic of achieving 30 per cent growth,” DHFL Joint Managing Director Harshil Mehta said.

In July 2017, DHFL launched ‘Griha Utsav’, an affordable housing exhibition in those locations to provide, easy access to affordable housing and finance solutions especially for the low and middle income segment, he said in a statement.

The government has laid a very strong foundation for the affordable housing industry over the last few quarters, acknowledging the immediate need for India to respond to the huge demand for affordable housing, Mehta said.

“The Housing For All by 2022 initiative is a tremendous undertaking that is set to positively impact India’s mortgage-to-GDP ratio. The government’s efforts have broad based the industry and have ushered in great transparency and governance through efforts like RERA,” he said.

DHFL registered a net profit growth of 26.1 per cent to Rs 293.3 crore for the second quarter ended September of 2017 -18. Its assets under Management (AUM) grew by 25.1 per cent reaching to Rs 94,089 crore during the quarter.