DHFL receives CAREAAA and ICRAA1+ ratings

Deepthi | Myequity news | Date : 24-09-2018 12:20:00 IST

DHFL received RE-AFFIRMATION of credit ratings from CARE and ICRA. The credit rating for DHFL's short and long term borrowings including Fixed Deposits has been reaffirmed as CAREAAA (Outlook: Stable) and CAREAAA (FD); Stable (Triple AAA, Outlook: Stable) and ICRAA1+.

Mr. Kapil Wadhawan, Chairman and Managing Director, DHFL said, "The reiteration by CARE and ICRA on the high degree of safety of DHFL's bonds and the organisation's total commitment to its financial obligations, come at a very critical time. Over the past three decades, DHFL has been playing an increasingly transformative role in nation building by expanding home ownership and financial inclusion, transforming the lives of millions of Indian in the LMI and EWS segments.”

He also added, "DHFL's aggressive growth' over the last few years have been also reflected in CAREAAA {Triple A} credit rating, and DHFL has also been assigned BWR AAA by Brickworks Ratings. Backed by very robust financial performance, DHFL holds strong liquidity of approx. INR.10, OOO crore in the system to serve all its commitments and liabilities."

DHFL reiterated that the company has neither defaulted on any bonds or repayment of its financial obligations, nor has there been any instance of delay on any repayment of any liability. On September 21, 2018, DHFL fulfilled its commitment of repaying commercial papers worth INR 575 crore and as per schedule and terms, is repaying INR 400 crore on September 24, 2018.

DHFL's Assets Under Management (AUM) has been growing at a CAGR of 26.4% and with a YOY growth of 37%, reporting INR 1,20,939.5 crore as on 30th June 2018 from INR 88,235.7 crore as on June 30, 2017. DHFL continues to expand its loan growth disbursements in the affordable housing segment which were INR 13,582.9 crore for the quarter ended June 30, 2018, demonstrating a 65% increase over the corresponding quarter of the previous year.

About DHFL:

DHFL is one of the leading housing finance companies in India with a large network across the country that caters to millions of customers in the LMI category. Over the last 34 years, DHFL has provided customers with a vast array of home loan products including loans on homes, residential plots, construction, LAP or loan against property as also mortgage, non-residential and project loans.

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