Home » Dewan Housing mulls Rs 40 bn fund raising

Dewan Housing mulls Rs 40 bn fund raising

Dewan Housing mulls Rs 40 bn fund raising

In a communication to the stock exchange, Dewan Housing Finance Corporation informed that it plans to mop up Rs 4,000 crore through debentures.

Of the Rs 4,000 crore, a maximum of Rs 3,000 crore would be raised through private placement of secured debentures in one or more tranches.

The company also plans to raise Rs 1,000 crore through issue of unsecured redeemable non-convertible subordinated debentures.

During October-December 2012, the company posted 21.70 per cent growth in net profit to Rs 91.24 crore compared to Rs 74.97 crore in the corresponding quarter previous year.

The total income of the company rose to Rs 840.64 crore during the third quarter from Rs 661.89 crore in the same period a year ago.

During the quarter under consideration, the company sanctioned 22.97 per cent more loan at Rs 3,922.13 crore compared to Rs 3,189.53 crore in the corresponding quarter previous year.

For the first nine months of 2012-13, the housing finance firm has clocked 19.88 per cent rise in net profit, to Rs 254.92 crore, from Rs 212.65 crore in the same period of the previous fiscal.

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