Housing finance company DHFL expects 30 per cent surge in disbursements from Karnataka

In accordance with its overall plans of expanding its disbursement book size by 30 per cent across the country, the housing finance company said it expects a 30 per cent surge in disbursements from Karnataka this year

The housing sector in Bengaluru has been witnessing a boom especially in the low and middle-income segment, says Santosh Nair, president and chief business officer, DHFL

Housing finance company DHFL on Friday said it expects a 30 per cent surge in disbursements from Karnataka, this year. This is in accordance with its overall plans of expanding its disbursement book size by 30 per cent across the country, the company said in a release.

Santosh Nair, president and chief business officer, DHFL said the government’s efforts towards ensuring the success of Housing For All by 2022 mission has laid a very strong foundation for the affordable housing industry. Leveraging on these opportunities and gaining support from the conducive environment, DHFL has been on a growth trajectory, he said.

DHFL registered a net profit increase of 26 per cent to Rs 1,172.1 crore for the year ended March 31, 2018. Assets Under Management grew by 33 per cent year-on-year, reaching Rs. 1, 11,086 crore from Rs. 83,560 crore as on March 31, 2018.

With operations in Karnataka since 1990, DHFL has 39 branches which service over 156 locations, he said. Bengaluru and its neighbouring locations have been critical to the company’s growth journey. Nair said the housing sector in Bengaluru has been witnessing a boom, especially in the low and middle-income segment.

“In this favourable scenario, we are optimistic about achieving 30 per cent growth in home loan disbursements from Karnataka.” He said 15 ‘Griha Utsavs’, housing expos in Tier II and III towns, were planned to be organised in Karnataka. Most housing units are covered under the Pradhan Mantri Awas Yojana scheme which provides an interest subsidy benefit of up to Rs 2.67 lakh for first home buyers.

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